GLENDALE, Calif. - Fidelity Federal Bank, stung by a huge loan-loss provision, lost $14.8 million in the fourth quarter.
It had lost a $37 million in the comparable 1993 period.
For the full year the bank lost $128.4 million, versus a $65.9 million loss for all of 1993.
The fourth quarter saw loan-loss provisions of $21.9 million, up from $3 million in the third quarter. The provision a year earlier was $23.6 million.
Notwithstanding the fourth-quarter loss, Fidelity officials said the savings bank continues to maintain capital ratios necessary to be considered "adequately capitalized" under Office of Thrift Supervision regulations.
On the basis of a nearly completed annual examination being conducted by the OTS, the $3.7 billion-asset thrift incrementally increased its loan- loss provisions as of Dec. 31 by $16.7 million.
"Management does not believe that the additional OTS incremental reserves were necessary," said Richard Greenwood, chief executive.