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Business in the Burbs

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CMS Bancorp reports narrower loss

August
11

CMS Bancorp Inc., the White Plains-based parent of Community Mutual Savings Bank, reported a net loss of $119,000, or 7 cents a share, for the quarter ended June 30, an improvement from a net loss of $178,000, or 10 cents a share, a year earlier.

“While we experienced a loss in the quarter…we have continued to see improvement in higher net interest income and better management of our costs,” Chief Executivve Officer John Ritacco said in a written statement.

He added that the bank’s assets have jumped 18.2 percent since September 30, primarily related to deposit growth iand the opening a new branch in Mount Kisco.

The bank’s allowance for loan losses was 0.32 percent of loans at the end of the quarter. “The company continues to see a modest increase in the level of loan delinquencies, primarily due to the high levels of unemployment, but had no non-performing loans,” Ritacco said.

This entry was posted on Tuesday, August 11th, 2009 at 4:31 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Earnings

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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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