Santa Barbara Savings’ earnings will be delayed.

The ailing savings and loan, a unit of Financial Corp. of Santa Barbara, said it won’t report its 1984 profits until the middle of next month. It said the results are being delayed while the association determines how much to add to reserves to handle expected losses on land development projects. In addition, Philip Brinkerhoff, the S&L;’s new chief executive, said the S&L; will show a profit in the fourth quarter because it has completed the sale of 20 branch offices.