Record earnings were reported by Glendale-based Citadel...

Record earnings were reported by Glendale-based Citadel Holding Corp. for the year ended Dec. 31, 1986, despite lower profit in the fourth quarter. Earnings for both 1986 and 1985 were affected by large, unusual legal, consulting and other expenses incurred in connection with the disputed merger and, in 1986, the canceled exchange offer of Great Western Financial Corp., a spokesman said. Annual and fourth-quarter earnings, however, also were affected by large provisions for loan losses, he added.