Nonperforming assets at City Bank in Lynwood, Wash., have ballooned to 44.3% of its total, but the company said Monday that it is encouraged by its success in securing home sales.

The $1.4 billion-asset City Bank, weighed down by bad residential construction loans, swung to a loss of $8 million in the first quarter, from a profit of $9.7 million a year earlier.

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