PASADENA, Calif. -- Southern California thrifts are suffering weak residential loan demand, but you wouldn't know it by looking at the balance sheet of Cenfed Bank.

In a region that could be called the cradle of the S&L crisis, and where thrifts are still having trouble making a lot of money, the $1.4 billion-asset Cenfed stands out. In the past two years, the Pasadena-based thrift posted solid growth in assets and earnings after a $3 million loss in 1990. In Los Angeles County, where thrifts abound, Cenfed is the only one to post of double-digit growth in loans this year - 20%.

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