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million, or a loss of $6.87 per share, which compares with net earningsof $16.9 million, or 33 centsa per share a year earlier. For fiscal the company reported a lossof $336.u million, or a loss of $6.51 per share, whic compares with net earnings of $93.3 million, or $1.8 per share in fiscal 2007. Basec on the results, the Spokane bank holding company STSA) said it won’t pay cash bonuses to its executivdemanagement team. Results for the latest quarter include a noncash chargeof $223.8 milliohn related to the impairment of goodwill, including the sustainex drop in its stock pricre and market capitalization; and a provisioj for credit losses of $228.
5 million, relatex to “worsening economic conditions (and) the continued stress on real estat values.” “During the fourtjh quarter of 2008, we witnessexd acceleration in the slowdown of the which caused higher levels of credit stress among our borrowers and an elevation in the levekl of both our nonperforming and classified We, therefore, modified our approach in determininyg the fair market value of loana identified as impaired,” said Harold Gilkey, chairman and CEO, in a
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