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Banks striving to counter slew of problem loans: tactics include bolstering reserves, selling property.

Publication: San Diego Business Journal
Publication Date: 25-AUG-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Two more local banks are feeling the pain from the rising numbers of problem loans.

Discovery Bancorp reported holding nearly 6 percent in problem loans as of June 30. Discovery said July 25 that it sold its headquarters building in San Marcos and is leasing back the space from the new owner, Windsor Projects, to increase its liquidity and capital base.

Meanwhile, San Diego-based Imperial Capital Bank, with about 3.4 percent of its assets classified as nonperforming, signed a "memorandum of understanding" Aug. 8 with its regulators to make certain changes to operations following...

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