GLENDALE, Calif. - Glenfed Inc. said Tuesday that its subsidiary, Glendale Federal Bank, has fallen out of compliance with the risk-based capital requirement.

In the earnings statement for its first fiscal quarter, which ended Sept. 30, the thrift holding company said the bank's risk-based capital ratio was 6.85%, compared with the federal requirement of 7.2%. Tangible capital, at 1.97% of assets, exceeded the minimum 1.5%, and core capital of 3.01% met the 3% standard.

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