1
 CityFed Financial Corp. said 
2
attribution

2
it expects to report a loss of at least $125 million to $150 million for the third quarter.
5001
span

3
 In the year-earlier period, CityFed had net income of $485,000, but no per-share earnings.
5001
background

4
 CityFed's president and chief executive officer, John Atherton, said 
5
attribution

5
the loss stems from several factors.
5003
span

6
 He said 
7
attribution

7
nonperforming assets rose to slightly more than $700 million from $516 million between June and September.
5006
span

8
 Approximately 85% of the total consisted of nonperforming commercial real estate assets.
5006
elaboration-set-member

9
 Accordingly, CityFed estimated 
10
attribution

10
that it will provide between $85 million and $110 million for credit losses in the third quarter.
5009
span

11
 CityFed added 
5012
attribution

12
that significant additional loan-loss provisions may be required by federal regulators as part of the current annual examination of City Federal Savings Bank, CityFed's primary subsidiary,
5012
span

13
 based in Somerset, N.J. 
12
elaboration-additional-e

14
City Federal operates 105 banking offices in New Jersey and Florida.
5011
background

15
 Mr. Atherton said 
5020
attribution

16
CityFed will also mark its portfolio of high-yield corporate bonds 
5016
span

17
to market 
16
elaboration-object-attribute-e

18
as a result of federal legislation 
5018
span

19
requiring 
20
attribution

20
that savings institutions divest themselves of such bonds.
5019
span

21
 That action, 
5021
span

22
CityFed said, 
21
attribution-e

23
will result in a charge against third-quarter results of approximately $30 million.
5022
Same-Unit

24
 CityFed also said 
5029
attribution

25
it expects to shed its remaining mortgage loan origination operations outside its principal markets in New Jersey and Florida 
5029
span

26
and, as a result, is taking a charge for discontinued operations.
25
cause

27
 All these actions,
5030
span

28
 Mr. Atherton said, 
27
attribution-e

29
will result in a loss of $125 million to $150 million for the third quarter.
5031
Same-Unit

30
 He added, however: 
5036
attribution

31
Depending on the resolution of certain accounting issues 
5034
span

32
relating to mortgages servicing 
31
elaboration-object-attribute-e

33
and the outcome of the annual examination of City Federal currently in progress with respect to the appropriate level of loan loss reserves, 
5035
Same-Unit

34
the total loss for the quarter could significantly exceed this range.
5036
span

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span
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span

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span



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span
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span

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span



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span
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span

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span
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span

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span
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span

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span



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span
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evaluation-s

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span



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span
5027
span

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span
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span

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span



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span



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span
5023
span

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span
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span

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span



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span
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result

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span
18
elaboration-object-attribute-e

5020
span
5015
span

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span
5022
Same-Unit

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multinuc
5015
cause

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span
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List

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span
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List

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span
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explanation-argumentative

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multinuc
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span

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span
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List

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span
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List

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span
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span

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span
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Same-Unit

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multinuc
5037
span

5032
span
5003
elaboration-set-member

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span
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elaboration-additional

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span
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Same-Unit

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multinuc
34
contingency

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span
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span

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span
5026
evaluation-s

