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SECURITY PACIFIC SEES BIG LOSS

Security Pacific Corp., which grew into a major banking force in the 1980s, said Monday it expects to lose up to $360 million this quarter due to problem loans and may slash 4,000 jobs, or 10 percent of its work force.

The nation's fifth-largest bank holding company also said it would set aside an unexpectedly large $850 million to cover loans that may go bad and to pay for restructuring.

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