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Bergen County bank reports quarterly loss

Community Bank of Bergen County on Thursday reported a net loss for its second quarter.

The Maywood-based bank, which has branches in Rochelle Park, Maywood and Fair Lawn, said in a news release it lost $13,000, or 1 cent per share, for the quarter. However, for the six months ended June 30, it reported net income of $205,000, or 12 cents per share.

The bank attributed the quarterly loss to the sale of “Other Real Estate Owned” properties, at a loss of $967,000. Excepting these sales, net income for the quarter would have been $511,000, or 29 cents per share.


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