Offering a glimpse of how investment sales contribute to the profit picture at financial institutions, Cal Fed Bancorp said it reaped $4.4 million in fee income from mutual funds and annuities in the first quarter.

Investment product sales at the Los Angeles-based thrift's 124 branches in California and Nevada topped $112 million in the first quarter, setting a record for per-branch sales. By contrast, investment sales totaled $81.1 million and added $3.7 million to noninterest fee income during 1995's first quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.