Wednesday, October 17, 2001
Provident posts loss
Dayton Business Journal
Provident Financial Group Inc., holding company of Provident Bank, lost money in the third quarter. The company cited the ailing economy and a decline in the value of its portfolio of aircraft leases.
Net loss was $7.4 million, or 15 cents per share. Last year, Provident earned $11 million, or 22 cents per share, during the third quarter.
The company also reduced its forecast for the fourth quarter, at 40 cents to 65 cents per share, and fiscal year 2002 earnings at $2.60 to $3 per share.
Based in Cincinnati, Provident operates 18 full-service branches in the Dayton area and holds more than $726 million in deposits locally.
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