By HOW ARD KAPILOFF

As expected, California Federal Bank on Monday reported a net loss of $326.3 million for the first quarter, due to a $280 million charge to expedite the sale of assets. The loss compares to a $10.5 million net gain posted by the bank in the same period last year.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.