Charter Federal in black for year.

BRISTOL, Va. -- Charter Federal Savings Bank earned $9.6 million, or $2.09 a share, for its fiscal year ended June 30, compared with a $36 million loss for the same time a year ago.

The loss in 1993 was primarily due to the writeoff of about $41 million in goodwill.

Charter returned 1.35% on average assets and 29.6% on average equity for the year. For the fourth quarter, the $732.9 million-asset thrift earned $2.2 million, compared with $2.2 million the same time the prior year. Charter also finalized the sale of mortgage interests related to its obligations under a letter of credit issued in connection with a moderate income housing project in Jacksonville, Fla. The sale reduced the institution's level of classified assets by $12.5 million.

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