Atlantic Coast Financial Corporation (ACFC: Quote) reported a second-quarter net loss of $3.0 million or $1.20 per share, wider than the net loss of $1.7 million or $0.69 per share in the comparable quarter last year.
Net interest income for the latest quarter rose to $5.1 million from $5.0 million last year. Net interest margin dropped to 2.76 percent from 2.86 percent last year.
Non-interest income for the quarter was $1.8 million, compared to $2.2 million last year.
Provision for loan losses increased to $3.7 million from $3.5 million in the year-ago quarter.
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by RTT Staff Writer
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