SECURITY PACIFIC <SPC> LOANS PUT ON NON-ACCRUAL Security Pacific Corp said it is placing medium and long-term loans to Brazil and Ecuador on a non-accrual basis as of March 31, a move that will reduce first quarter earnings by 7.2 mln dlrs, or nine cts per share, after taxes. Despite the anticipated reduction to quarterly earnings, Security Pacific said it still expects to report first quarter earnings higher than the 88 mln dlrs, or 1.11 dlrs per share reported for the first quarter of 1986. The bank holding company said the action affects 401 mln dlrs of loans to Brazil and 73 mln of loans to Ecuador. Brazil suspended interest payments on its 68 billion dlrs of medium- and long-term debt on February 20. Ecuador, which has foreign debt of roughly eight billion dlrs, has not paid any interest to foreign banks since February. In March Ecuador said it would suspend interest payments for the rest of the year because of an earthquake which halted the export of oil, which accounts for about 75 pct the country's export revenues. In its announcement, Security Pacific said it will record interest income only as it is received in cash. The company also said it believes that Brazil will reach an agreement with its banks and that interest payments will resume later in 1987. The Brazilian negotiations resume on Friday in New York when Central Bank Governor Francisco Gros is expected to ask banks for a 90-day roll-over of some 9.5 billion dlrs of term debt that matures on April 15.