9 17 Benjamin Benjamin NNP 18 26 Franklin Franklin NNP 27 34 Federal Federal NNP 35 42 Savings Savings NNP 43 44 & & CC 45 49 Loan Loan NNP 50 61 Association Association NNP 62 66 said say VBD 67 69 it it PRP 70 75 plans plan VBZ 76 78 to to TO 79 90 restructure restructure VB 91 93 in in IN 94 97 the the DT 98 102 wake wake NN 103 105 of of IN 106 107 a a DT 108 121 third-quarter third-quarter JJ 122 126 loss loss NN 127 129 of of IN 130 131 $ $ $ 131 134 7.7 7.7 CD 135 142 million million CD 142 143 , , , 144 146 or or CC 147 148 $ $ $ 148 152 1.01 1.01 CD 153 154 a a DT 155 160 share share NN 160 161 , , , 162 172 reflecting reflect VBG 173 175 an an DT 176 177 $ $ $ 177 179 11 11 CD 180 187 million million CD 188 196 addition addition NN 197 199 to to TO 200 209 loan-loss loan-loss JJ 210 218 reserves reserve NNS 218 219 . . . 222 225 The the DT 226 234 Portland Portland NNP 234 235 , , , 236 240 Ore. Ore. NNP 240 241 , , , 242 248 thrift thrift NN 249 253 said say VBD 254 257 the the DT 258 271 restructuring restructuring NN 272 278 should should MD 279 283 help help VB 284 286 it it PRP 287 291 meet meet VB 292 295 new new JJ 296 303 capital capital NN 304 313 standards standard NNS 314 318 from from IN 319 322 the the DT 323 332 Financial Financial NNP 333 344 Institution Institution NNP 345 351 Reform Reform NNP 351 352 , , , 353 361 Recovery Recovery NNP 362 365 and and CC 366 377 Enforcement Enforcement NNP 378 381 Act Act NNP 381 382 . . . 383 384 A a DT 385 389 year year NN 390 393 ago ago RB 393 394 , , , 395 403 Benjamin Benjamin NNP 404 412 Franklin Franklin NNP 413 416 had have VBD 417 423 profit profit NN 424 426 of of IN 427 428 $ $ $ 428 431 1.8 1.8 CD 432 439 million million CD 439 440 , , , 441 443 or or CC 444 446 23 23 CD 447 452 cents cent NNS 453 454 a a DT 455 460 share share NN 460 461 . . . 464 466 In in IN 467 483 over-the-counter over-the-counter JJ 484 491 trading trading NN 492 501 yesterday yesterday NN 501 502 , , , 503 511 Benjamin Benjamin NNP 512 520 Franklin Franklin NNP 521 525 rose rise VBD 526 528 25 25 CD 529 534 cents cent NNS 535 537 to to TO 538 539 $ $ $ 539 543 4.25 4.25 CD 543 544 . . . 547 550 The the DT 551 558 company company NN 559 563 said say VBD 564 567 the the DT 568 581 restructuring restructuring NN 581 583 ’s 's POS 584 591 initial initial JJ 592 597 phase phase NN 598 602 will will MD 603 610 feature feature VB 611 612 a a DT 613 620 gradual gradual JJ 621 630 reduction reduction NN 631 633 in in IN 634 640 assets asset NNS 641 644 and and CC 645 650 staff staff NN 651 660 positions position NNS 660 661 . . . 662 665 The the DT 666 670 plan plan NN 671 674 may may MD 675 682 include include VB 683 690 selling sell VBG 691 699 branches branch NNS 699 700 , , , 701 714 consolidating consolidate VBG 715 717 or or CC 718 729 eliminating eliminate VBG 730 741 departments department NNS 741 742 , , , 743 746 and and CC 747 754 winding wind VBG 755 759 down down RP 760 762 or or CC 763 772 disposing dispose VBG 773 775 of of IN 776 788 unprofitable unprofitable JJ 789 794 units unit NNS 795 801 within within IN 802 804 18 18 CD 805 811 months month NNS 811 812 . . . 815 824 Initially initially RB 824 825 , , , 826 829 the the DT 830 837 company company NN 838 842 said say VBD 843 845 it it PRP 846 850 will will MD 851 856 close close VB 857 860 its its PRP$ 861 871 commercial commercial JJ 872 883 real-estate real-estate NN 884 891 lending lending NN 892 900 division division NN 900 901 , , , 902 905 and and CC 906 910 stop stop VB 911 922 originating originate VBG 923 926 new new JJ 927 933 leases lease NNS 934 936 at at IN 937 940 its its PRP$ 941 951 commercial commercial JJ 952 957 lease lease NN 958 968 subsidiary subsidiary NN 968 969 . . . 972 979 Details detail NNS 980 982 of of IN 983 986 the the DT 987 1000 restructuring restructuring NN 1001 1003 wo wo MD 1003 1006 n’t n't RB 1007 1009 be be VB 1010 1014 made make VBN 1015 1020 final final JJ 1021 1026 until until IN 1027 1037 regulators regulator NNS 1038 1045 approve approve VBP 1046 1049 the the DT 1050 1061 regulations regulation NNS 1062 1070 mandated mandate VBN 1071 1073 by by IN 1074 1077 the the DT 1078 1081 new new JJ 1082 1089 federal federal JJ 1090 1093 act act NN 1093 1094 , , , 1095 1098 the the DT 1099 1106 company company NN 1107 1111 said say VBD 1111 1112 . . .