First Citizens Reports $157,037 Quarterly Loss

First Citizens Bank, a single-office bank in Sherman Oaks, reported a $157,037 loss in the second quarter, compared with a year-earlier profit of $79,018.

The bank said the loss reflected a $100,000 increase in its reserves for possible loan losses, higher operating costs and lower interest income.

For the first six months of 1991, First Citizens lost $98,090 compared with a $143,538 profit a year earlier. The bank’s assets as of June 30 totaled $34.4 million, nearly unchanged from a year earlier.