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SAN DIEGO INDUSTRY NOTES

April 08, 1986

SDN Bancorp, parent corporation of San Dieguito National Bank, reported a $396,000 net loss for the year ended Dec. 31 compared to $111,000 in net income during the previous year. Assets fell 7% to $55.6 million. The loss resulted from net charge-offs of almost $800,000 in loan losses and over $200,000 in losses generated by real estate acquired through foreclosure.

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