Independence Federal Savings Bank in Washington said Thursday that it lost $1.24 million in the third quarter and $2.5 million in the first nine months of the year.
The $195 million-asset thrift has not reported a quarterly profit since the fourth quarter of 2002. It lost $1 million in the first nine months of last year.
Independence's plan to sell itself to Carver Bancorp Inc. of New York collapsed last month, after the Office of Thrift Supervision rejected the companies' merger application. The OTS cited concerns about Carver's post-acquisition profitability and capital prospects.
Carver, which owns 150,000 shares of Independence, reduced its previously reported fiscal second-quarter earnings by $228,000 last week to reflect the deteriorating value of its stake. After the revision, Carver earned $206,000 in the quarter.
