PFF Bancorp expected to post loss on loan loss provisions.
Global Banking News - 04 April 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Analysts polled by Thomson Financial, on average, are expecting California-based community bank PFF Bancorp Inc (NYSE: PFB) to report a loss of USD0.32 per share in the fourth quarter and a full-year loss of USD1.26 per share, according to a report by the Associated Press.
PFF reportedly said that it expects its provision for loan losses in the fiscal fourth quarter ended March 31, 2008 to total more than USD120m, mainly resulting from continued deterioration in its construction portfolio. The bank has completed the virtual sale of the entire loan portfolio of its subsidiary Diversified Builder Services Inc, resulting in a loan-loss provision of USD48m.
PFF, which operates 37 branches in southern California and the Los Angeles area, is expected to announce fourth-quarter and full-year results in early May.
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|Publication:||Global Banking News (GBN)|
|Date:||Apr 4, 2008|
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