Bancorp Loan Writeoff: Orange-based West Coast Bancorp,...
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Bancorp Loan Writeoff: Orange-based West Coast Bancorp, the holding company for Sunwest Bank in Tustin, Heritage Thrift & Loan Assn. in Brea and Sacramento First National Bank in Sacramento, said it will write off a $1.4-million loan, reducing anticipated third-quarter earnings by $850,000. The company said that despite the writeoff, it expects to report a net profit for the year. The company said the loan in question was made by its inactive West Coast Realty Finance unit, which is not a regulated banking institution.
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