First Chester County Corp. in West Chester, Pa., announced its first-quarter financial results this week, more than four months after the quarter ended.
The $1.29 billion-asset company said Wednesday that it swung to a loss of $1.8 million in the first quarter, from a $3.3 million profit a year earlier.
First Chester blamed the loss on a decline in net interest income, as well as on increases in writedowns of nonperforming assets and in professional fees related to its pending merger with Tower Bancorp Inc.
Chief Executive John Featherman 3rd said in a release that the company expects to file its second-quarter report in coming weeks to become current on all its filings.
