Homefed Corp.: The parent of Home Federal...

Homefed Corp.: The parent of Home Federal Savings and Loan reported a first-quarter profit of $30.5 million, up 23% from the $24.7-million profit reported for the same quarter the previous year. Chairman Kim Fletcher said the increase was attributed to improvement in several of HomeFed’s earnings components, including net interest income, which was $101.7 million for the quarter, up from $92.9 million a year ago. Loan-loss provisions, which are charges on earnings, were $10 million, up from $5 million the previous year. Non-performing loans as of March 31 totaled 2.27% of the S&L;’s $17.4 billion in assets. The percentage of bad loans to assets was down from 2.41% on Dec. 31. The S&L; made $14.8 million from its real estate operations, up from $8.8 million during the year-ago quarter.