Bank of Boston to Write Off $300...
From Times Staff and Wire Reports
Bank of Boston to Write Off $300 Million: Bank of Boston Corp. said its earnings for the final quarter of 1989 will be reduced by about $300 million largely because of problem real estate loans and the uncertainty of the New England economy. The large regional banking company also said it added $280 million to its loan-loss reserves to cover future losses. However, Bank of Boston said it expects to break even for the three months ended Dec. 31 and earn a profit for the full year.
