Coast Savings Financial Inc.: The Los Angeles-based...
From Times Staff and Wire Reports
Coast Savings Financial Inc.: The Los Angeles-based parent company of Coast Savings & Loan reported a third-quarter loss of $92.2 million, contrasted with earnings of $10.2 million a year ago. The company cited one-time charges associated with a major restructuring, including a $46-million reduction in goodwill, a $20-million addition to its general loan-loss reserves and a $30-million market valuation reserve for its high-yield bond portfolio. Excluding the charges, the company said its earnings for the quarter would have been about $7.1 million.
