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Earnings

July 18, 1986

First Interstate Bancorp, the nation's eighth-largest bank holding concern, said earnings rose 10.5% in both the second quarter and the first half. The parent of Los Angeles-based First Interstate Bank said a continuing high level of problem loans was still putting a damper on earnings. The company's chairman and chief executive, J. J. Pinola, attributed the situation to the company's increased loan volume and to problems in the agriculture, energy, lumber and mining industries. During the second quarter, First Interstate set aside $92.3 million for possible loan losses--up from $73.9 million a year earlier but down from $107.3 million in the first period of this year.

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