CMS Bancorp has net loss in quarter
-
- February
- 13
CMS Bancorp Inc. of White Plains, the parent of Community Mutual Savings Bank, said it had a net loss of $130,000, or 7 cents a share, on net interest income of $1.3 million in the fourth quarter. For the comparable period a year earlier, it had a net loss of $13,000 on net interest income of $950,000.
The bank converted to stock ownership on April 4 last year. The company attributed the higher losses to higher legal and compensation-related expenses and a $15,000 loan loss reserve provision.
CMS Bancorp said it would consolidate its Greenburgh and White Plains branches at a new location at the Crossroads Shopping Plaza in Greenburgh, and open a new branch in Mount Kisco. The changes are scheduled for the second quarter.
This entry was posted
on Wednesday, February 13th, 2008 at 5:49 pm by Jerry Gleeson.
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