Provident Community Bancshares Inc. (PCBS) reported a second-quarter net income to common shareholders of $24 thousand or $0.01 per share, compared to a net loss of $110 thousand or $0.06 per share in the prior year quarter.
The company the improvement in 2012 was primarily due to a reduction in Other Real Estate Owned or OREO expenses of $721,000 due to expense reductions and recoveries on OREO and the absence of any other-than-temporary impairment of securities in 2012 compared to $191,000 in 2011.
Net interest income for the quarter rose to $1.81 million from $2.30 million in the year-ago quarter, while non-interest income decreased to $658 thousand from $660 thousand in the comparable quarter last year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.