Levy Bancorp Posts Loss of $440,000 in 3rd Quarter
Levy Bancorp, parent company of Bank of A. Levy, posted a loss to $440,000 in the third quarter that ended Sept. 30, compared to a $40,000 loss in the third quarter of 1992.
In addition, Levy also reported a loss of $4.7 million for the nine months that ended Sept. 30, compared to a loss of $684,000 for the same period in 1992.
The losses for the latest quarter were attributed largely to $1.4 million in loan losses and recording of $1-million reserve against cumulative deferred tax benefits. Levy Bancorp, based in Ventura, has 17 offices throughout Ventura County.
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