NEW YORK (Thomson Financial) - Shares of Frontier Financial Corp. fell in morning trading Tuesday after the company reported second-quarter earnings of $2.1 million, or 4 cents a share, missing the mean estimate of analysts polled by Thomson Reuters for a profit of 10 cents a share.
The shares slid 12.9% to $9.75.
The company reported earnings of $18.2 million, or 40 cents a share, a year earlier.
The provision for loan losses rose to $24.5 million from $1.9 million in the year-ago period. Net interest income fell 2.9% to $44.9 million from $46.2 million a year earlier.
Christie Rizk cr/vj COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
