Delanco Bancorp Reports Second Quarter Loan Loss Provision

(OTCBB:DLNO) Delanco Bancorp, Inc. Press ReleaseSource: Delanco Bancorp, Inc. Delanco Bancorp Reports Second Quarter Loan Loss ProvisionWednesday October 8, 4:00 pm ET DELANCO, N.J.-Delanco Bancorp, Inc. , parent of Delanco Federal Savings Bank, announced recently that it expects to take a provision of $442,000 in the second quarter for the impairment of loans primarily in its commercial loan portfolio. During the second quarter, the Bank charged off $145,000 of loans against its loan loss reserve. An amount of $442,000 has been added to the reserve due to identified weaknesses in the loan portfolio resulting from worsening economic conditions and decreasing property values in the local market.The increased provision is expected to lower pre-tax earnings by approximately $
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