Valley Federal Savings & Loan promoted Bill...

Valley Federal Savings & Loan promoted Bill Brown to senior vice president in charge of the S&L;’s major loans and named him to its executive administration committee. Brown previously was vice president for major loans.

Because Valley Federal’s ailing performance showed some improvement in the first quarter, the thrift was recently allowed by federal regulators to resume making some loans. The S&L; had been barred from lending while it worked out a plan to boost its capital reserves.