Premierwest Bancorp (PRWT: Quote) Tuesday reported a narrower loss for the second quarter, due mainly to lower non-interest expense, despite lower incomes.
The Medford, Oregon-based company's second-quarter net loss applicable to common shareholders was $1.97 million or $0.20 per share, compared to $2.67 million or $0.27 per share last year.
Net interest income for the quarter dropped 11 percent to $11.63 million from $13.13 million in the year-ago quarter. Total non-interest income decreased to $2.59 million from $2.69 million in the prior-year quarter.
Loan loss provisions for the quarter were $1.28 million. Provisions were absent last year.
Non-interest expense for the quarter decreased to $14.25 million from $17.87 million in the prior-year quarter.
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by RTT Staff Writer
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