Provident Bankshares Corp. of Baltimore said Thursday that its second-quarter net income fell 22.5%, to $15.5 million, from a year earlier. Related Links Complete 2Q 2007 Earnings Coverage
The $6.3 billion-asset Provident blamed a $3.5 million commercial business loan that was charged off during the quarter. It also cited a 7.5% drop in net interest income, to $48.5 million, and the flat yield curve.
Its loans rose 4.5%, to $3.9 billion, and deposits rose 1%, to $4.2 billion.Luke Mullins