Bank of San Francisco continues to bleed red ink -- losing $6 million in the second quarter, compared with a $4 million loss the same time a year ago.

The ailing company has racked up $9.2 million in losses this year, and in the last 18 months has lost a hefty $19 million.

What's helped the bank is its uncanny ability to raise funds through its parent, the Bank of San Francisco Company Holding Co., and through its primary benefactor, Petra Masagung, a wealthy Indonesian shopping center magnate.

In July, San Francisco raised $20 million, which effectively cured its leverage capital problems. Because of its high exposure to commercial real estate, state and federal banking regulators imposed a 7% leverage capital requirement.

Despite the losses, bank officials are upbeat.

"Our capital ratios and the stability of the bank have improved substantially as a result of the July capital contribution," said Kent Price, chairman and chief executive. "We are also making progress toward the elimination of the problem-asset portfolio."

Contributing to the loss were costs associated with asset write-downs, carrying costs for nonperforming assets, and charges stemming from the settlement of litigation. As a condition for making his investment in July, Mr. Masagung required the company to settle a previous lawsuit.

The holding company said that despite a hefty 14.16% risk-based capital ratio and a 10.89% leverage capital ratio, it is still not in compliance with some regulatory requirements imposed a year ago.

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