First Interstate Bancorp: The Los Angeles banking...

First Interstate Bancorp: The Los Angeles banking company reported a third-quarter loss of $15.5 million, compared to a $214.4-million loss a year ago. The company said First Interstate Bank of Arizona has recorded a $350-million provision for loan losses for the quarter, primarily related to its real estate construction and commercial mortgage portfolio. Net charge-offs at the Arizona affiliate totaled $200 million for the quarter, resulting in a loss of $174 million for its Arizona affiliate. The firm said that while it was disappointed at results in the Arizona market, it should not obscure the positive results of its other leading affiliates.