Progress Financial Corp. in Blue Bell, Pa., is expected to report disappointing second-quarter earnings because of troubles with its leasing portfolio.

Cassandra Toroian, an analyst at Ryan, Beck & Co. in Livingston, N.J., has cut her estimate from 27 cents per share to 23 cents on the basis of a projection that the $665 million-asset thrift holding company will boost its allowance for loan losses.

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