FIRST BANK <FBS> SEES LOSS ON BRAZILIAN LOANS
First Bank Systems Inc, in reporting
higher first quarter net, said that if interest is not paid on
the 140 mln dlrs in Brazilian loans and nine mln dlrs in
Ecuadorian loans for the rest of 1987, its profits for the
entire year will be cut by 6.9 mln dlrs.
    The banking firm said the non-performing status of these
loans cut first quarter net by 1.7 mln dlrs.
    Earlier it reported first quarter profits of 57.4 mln dlrs
or 95 cts a share, up from 46.6 mln dlrs or 80 cts a share in
the year-ago period.
    Nonaccrual loans, restructured loans and other real estate
were 637 mln dlrs, or 2.24 pct of total assets, compared to 514
mln dlrs or 1.84 pct of assets at the end of 1986 and 636.1
mln, or 2.46 pct of assets at March 31, 1986.
    The provision for loan losses in the quarter was 35 mln
dlrs, compared to 152.1 mln in the first quarter 1986, when
there was a special addition to the reserve of 100 mln dlrs.
Net charge offs were 34.7 mln, compared to 41.1 mln dlrs a year
earlier.
REUTER^M
