IRWINDALE, Calif -- H.F. Ahmanson & Co. said it has completed a yearlong effort to clean up its balance sheet by selling $1.2 billion of delinquent and nonaccruing single-family real estate loans.

The parent of Home Savings of America, the nation's largest thrift, said the sale and a $163 million provision for certain real estate development projects will result in a loss of about $290 million for the second quarter.

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