SAN DIEGO -- BSD Bancorp Inc. said it would file plans with regulators to merge its three banks into one with $400 million of assets.

American Valley Bank of El Cajon and Coast Bank of Long Beach would merge into BSD's principal subsidiary, Bank of San Diego.

BSD Bancorp also said it would report a significant loss for the current quarter because of merger-related costs and an addition to loan-loss reserves.

James S. Brown, BSD chairman, said the merger would reduce costs and increase efficiency, "the key to success in the 1990s."

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