Losses reduced at Bank of San Francisco.

SAN FRANCISCO - Bank of San Francisco Co. reported a net loss of $2 million in the third quarter, versus an $8.1 million loss a year earlier.

For the first nine months, the company, which has $283 million of assets, lost $8.5 million, versus $18 million in the same period last year.

The latest loss stemmed from a $1 million charge for foreclosed real estate, a $618,000 loan-loss provision, and the high cost of carrying nonperforming assets, the company said.

During the quarter, Bank of San Francisco completed a private placement of preferred stock that added $6 million capital.

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