Monarch Community Bancorp Inc. (MCBF) announced a second-quarter net loss available to common shareholders of $372,000 compared to net loss available to common shareholders of $70,000 last year. Loss per share for the quarter was $0.19 compared to a loss of $0.04 for the same period in 2011.
The loss represents a decline in interest income due to a decrease in the average loans outstanding, an increase in salaries and employment benefits associated with opening new residential loan production offices, and higher foreclosure costs associated with a more conservative approach in recognizing losses from foreclosed assets.
Non-interest income for the quarter increased 60%, from $728,000 to $1.2 million for the same period a year ago. This increase is primarily attributable to an increase in other income of $357,000 and in gain on sale of loans of $113,000. The increase in other income was largely due to an increase in the gain on sale of repossessed of property.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.