Coast Savings Financial Inc. reported a third-quarter loss, citing a previously announced capital restructuring program. 

The Los Angeles thrift holding company said it had a loss of $92.2 million, or $6.98 a share, for the quarter ended Sept. 30.
Coast earned $10.2 million, or 67 cents a share, in the year-ago quarter.
The year-ago results have been restated to comply with government regulations. 

The restructuring program is designed to increase the company's tangible capital ratio.
It includes removing $242 million in good will from the books, issuing $150 million in preferred stock and commencing an exchange offer for $52 million in convertible bonds. 

During the third quarter, the company charged about $46 million against earnings in reducing goodwill, added $20 million to its general loan loss reserves and established a $30 million reserve for its high-yield bond portfolio.
The company said its junk-bond portfolio after these moves had been reduced to less than 1% of assets.