Vestin Realty Mortgage II (VRTB) reported second quarter net loss of about $28.6 million or $1.92 per share, compared to net income of about $4.4 million or $0.29 per share in the prior year quarter.
The company specified that quarterly loss was due to non-performing loans and its recording of loan loss provision of about $22.3 million.
Revenues for the quarter declined to $5.9 million from $8.3 million in the year-ago quarter.
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