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Banking & Finance

BRIEFLY

September 17, 1992|From Times Staff and Wire Reports

First Interstate Raises Profit Estimate: The Los Angeles bank said better than expected results from its revamping will result in 1992 profit of $270 million to $280 million, up from its previous forecast of $220 million to $240 million. Chief Executive Edward M. Carson cited successes in managing problem loans and improving the quality of loans. Non-performing loans and other assets at the end of the year should be flat to down from mid-year, Carson predicted. The news sent First Interstate's stock up by $2.125 per share to $38.375 in New York Stock Exchange trading.

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