NEW YORK, May 9 -- Citigroup said Friday it would shed about $400 billion in real estate, loans and other assets over the next few years as it tries to return to profitability after huge losses in the mortgage and credit markets.

The Private Bank of California (the "Bank") (OTCBB: PBCA) announced its financial results for the quarter ended March 31, 2008, highlighted by its first quarter of profitability.

Shares rise on a predicted return to profitability for the lender, though doubts remain. IndyMac Bancorp Chief Executive Michael Perry came out swinging Thursday against Wall Street's increasingly dim view of the mortgage lender's future, and that gave the stock a pop.