First Banks losses continue, but problem loans ease

First Banks lost another $47.8 million in the third quarter, but the privately held bank's problems with bad loans eased.
The third quarter's loss was just more than half the $91.1 million lost in the same period a year ago.
The holding company's main unit, First Bank, generally improved its capital position during the quarter, remaining "well capitalized" by regulatory standards. However, the holding company's capital ratios declined and remained below the "well-capitalized" level.
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