SAN FRANCISCO -- Financial Center Bancorp said its subsidiary, Financial Center Bank, has agreed to sell certain assets to Heller Financial Inc. at undisclosed terms.
The sale of assets now held by the bank's First Capital division will yield a pretax gain of $3.2 million when the deal is closed in the first quarter of 1992, Financial Center said.
Heller, a Chicago-based commercial finance affiliate of Fuji Bank of Japan, has $7 billion in assets. It said it would leave the First Capital division under current management.
The San Francisco bank, which has $245 million in assets, also said it is taking a $2.05 million charge for loan-loss provisions and operational reserves. The charge will reflect unsellable residential real estate loans and costs of lease obligations on discontinued operations of the bank's mortgage division.