	great american gta gains over mln in loans great american first savings bank said the bank recorded gains exceeding mln dlrs on sales of loans and mortgage securities valued at billion dlrs the san diego based bank said in a prepared release of its report to analysts here that the gains included mln dlrs in arbitrage profits from the premium paid for the separation of interest and principal components of new federal national mortgage association strip securities the bank said it reported a profit of more than mln dlrs on the transaction involving mln dlrs of fnma securities including the arbitrage gain great american recently announced plans to uire capital savings bank olympia wash and last year uired home federal savings and loan association tucson ariz and los angeles federal savings bank which resulted in new offices and three billion dlrs in assets the bank also said it plans to expand into other major western banking markets and is considering an uisition in colorado reuter 
