Penn Security earnings slip
SCRANTON - Penn Security Bank & Trust Co. parent Penseco Financial Services Corp. reported first-quarter earnings of $2.5 million, a 7.7 percent decrease from the earnings in the same period a year ago.
The bank saw a slip in net interest income of $438,000, or 5.5 percent, and an increase in provisions for loan losses of $108,000. Those declines were partially offset by decreases in the bank's interest expense.
Earnings per share for the quarter were 77 cents, down 6 cents from the year-ago quarter.
Scranton-based Penn Security Bank & Trust Co. has 12 branches in Northeast Pennsylvania and assets of nearly $930 million as of March 31.