Loyola cuts ATMs to install computer

October 27, 1991

Loyola Federal Savings and Loan Association temporarily suspended its Saturday hours and automated teller machine service this weekend as it completed final tests on a new million-dollar computer system.

The thrift's normal hours and ATM service was to resume tomorrow morning, and future weekends would not be affected, Loyola's chairman, Joseph W. Mosmiller, said yesterday.

"This is a major conversion for us," Mr. Mosmiller said. A year in the planning, the installation of the new software system replaced 37 computer programs at the $2.1 billion thrift.

Mr. Mosmiller said customers of the savings and loan's 34 branches had been notified by mail over the past few weeks about the planned disruption of services. He said that the new computer system will improve the thrift's operations.

Baltimore-based Loyola Capital Corp., which owns Loyola Federal Savings, announced last week that it earned $2.5 million, or 55 cents a share, for the third quarter, compared with $2.1 million, or 44 cents a share, for the same period a year ago.

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