First Pactrust Bancorp Inc. (BANC) Monday reported a loss for the second quarter compared to a profit last year, due mainly to higher non-interest expenses.
The Irvine, California-based company's second-quarter net loss available to common shareholders was $1.05 million or $0.09 per share, compared to a net profit of $1.55 million or $0.16 per share last year. On average, eight analysts polled by Thomson Reuters expected earnings of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.
Net interest income for the quarter grew to $8.43 million from $7.01 million in the year-ago quarter. Total non-interest income dropped to $639 thousand from $1.64 million in the prior-year quarter.
Eight analysts had a consensus revenue estimate of $9.88 million for the quarter.
Loan loss provisions for the quarter decreased to $279 thousand from $451 thousand last year.
Non-interest expense for the quarter advanced to $9.94 million from $6.0 million in the prior-year quarter.
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