1
 HomeFed Corp. said 
5002
attribution

2
third-quarter net income slid 14% to $23.9 million, or $1.10 per fully diluted share, from $27.9 million, or $1.21 a fully diluted share,
5002
span

3
 because of increased bad assets and unexpected trouble
5001
span

4
 in unloading foreclosed property.
3
elaboration-object-attribute-e

5
 The decline surprised analysts
5006
List

6
 and jolted HomeFed's stock,
5005
span

7
 which lost 8.6% of its value,
5004
span

8
 closing at $38.50 on the New York Stock Exchange, down $3.625.
7
elaboration-additional-e

9
 HomeFed had been one of the handful of large West Coast thrifts
5011
span

10
 that in recent quarters had counteracted interest-rate problems
5009
span

11
 dogging the industry 
10
elaboration-object-attribute-e

12
by keeping a lid on problem assets 
5008
List

13
and lending heavily into the furious California housing market.
5008
List

14
 Analysts had been projecting fully diluted earnings in the third quarter in the range of about $1.30 a share.
5013
span

15
 However, HomeFed's loan originations and purchases plunged 26% in the quarter, to $1.4 billion from $1.9 billion a year earlier.
5019
span

16
 Meanwhile, non-performing assets rose to $593 million from $518.7 million.
5016
span

17
 Some $380 million of the troubled assets is repossessed real estate, a 55.6% surge from the $244.2 million of repossesed property 
5015
span

18
HomeFed held a year ago.
17
elaboration-object-attribute-e

19
 HomeFed has $17.9 billion of assets.
5016
circumstance

20
 HomeFed said
21
attribution

21
 most of the troubled assets are apartment complexes, shopping malls and other commercial real estate.
5021
span

22
 It said 
5022
attribution

23
about half are in California,
5022
span

24
 with the rest scattered across the country.
23
elaboration-additional

25
 It said 
5025
attribution

26
sales of such properties were slower than anticipated in the third quarter,
5025
Contrast

27
 but it expects sales to pick up in the rest of the year.
5025
Contrast

28
 HomeFed said 
29
attribution

29
the slide in loan originations was more a matter of design than a sign of cooling in the California market.
5033
span

30
 Any such downturn in California would be grim news for West Coast thrifts, particularly the less healthy ones,
5032
span

31
 which have performed poorly even with a torrid market.
30
elaboration-object-attribute-e

32
 But HomeFed said
5038
attribution

33
 it purposely curbed loan originations in the quarter 
5038
span

34
because of uncertainty over the new capital requirements and regulations
5035
span

35
 that will emerge from negotiations
5034
span

36
 over implementing the government's massive thrift bailout bill.
35
elaboration-object-attribute-e

37
 It said 
38
attribution

38
its real-estate operations earned a record $21.7 million, more than double year-earlier real estate profit of $9 million.
5039
span

39
 And analysts said
40
attribution

40
 they see no signs of an imminent swoon in California real estate, even with last week's earthquake.
5043
span

41
 The thrift said 
5048
attribution

42
earnings also were nicked in the quarter by a $4 million provision for losses 
5048
span

43
associated with its previously reported plan 
5047
span

44
to liquidate a real-estate franchise network.
43
elaboration-object-attribute-e

45
 For the nine months, HomeFed earned $82.5 million, or $3.52 a fully diluted share, a 4.3% increase from year-earlier net income of $79.1 million, or $3.43 a fully diluted share.
5050
elaboration-additional

5001
span
2
explanation-argumentative

5002
span
5003
span

5003
span
5007
span

5004
span
6
elaboration-additional-e

5005
span
5006
List

5006
multinuc
5003
consequence-s

5007
span
5030
span

5008
multinuc
5009
means

5009
span
5010
span

5010
span
9
elaboration-object-attribute-e

5011
span
14
consequence-n

5012
span



5013
span
15
concession

5014
span



5015
span
16
elaboration-set-member

5016
span
5028
span

5017
span



5018
span



5019
span
5031
span

5020
span



5021
span
5024
span

5022
span
5023
span

5023
span
5021
elaboration-additional

5024
span
5027
span

5025
multinuc
5026
span

5026
span
5024
elaboration-additional

5027
span
5028
elaboration-additional

5028
span
5029
span

5029
span
5019
elaboration-additional

5030
span
5050
span

5031
span
5046
span

5032
span
5037
concession

5033
span
5041
span

5034
span
34
elaboration-object-attribute-e

5035
span
33
reason

5036
span



5037
span
5040
span

5038
span
5037
span

5039
span
5044
span

5040
span
5033
evidence

5041
span
5042
span

5042
span
5031
elaboration-additional

5043
span
5039
elaboration-additional

5044
span
5041
consequence-s

5045
span



5046
span
5007
elaboration-additional

5047
span
42
elaboration-object-attribute-e

5048
span
5049
span

5049
span
5030
elaboration-additional

5050
span
5051
span

5051
span



