Business in the Burbs

Earnings flat at Montebello-based Provident

April

Provident New York Bancorp reported today that earnings in its fiscal second quarter, which ended March 31, were flat at $4.4 million, or 11 cents a share, compared to a year ago. The Montebello-based parent of Provident Bank said net interest income decreased $537,000, or 2.6 percent, to $20.5 million, mostly as a result of an increase in interest expense of $2.7 million for deposits and $2.3 million for borrowings. In the quarter, the bank reported, commercial loans grew $63 million, or 16 percent, compared to last year.

This entry was posted on Wednesday, April 25th, 2007 at 6:22 pm by David Schepp.
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