Shares of Bridge Capital Holdings fell sharply Friday after the San Jose, Calif., company restated its second-quarter earnings to show a $1.3 million loss.
Bridge Capital had initially reported a profit of $1.6 million.
The restatement, announced after the market closed Thursday, reflected the decision to add $5 million to its loan-loss provision after further stress testing of its construction and development loan portfolio.
The $800 million-asset company previously announced a $1.2 million provision for the quarter.
By late Friday shares of Bridge Capital had dropped 12.6% from Thursday's close, to $10.50.
