The 4-year-old Transcommunity Financial Corp. of Richmond, Va., said it lost $72,000 in the third quarter, only 15% as much as a year earlier.
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Losses for the nine months fell 46%, to $1.1 million, the $174 million-asset company said Friday.
It also said it had applied for permission to establish a fourth bank. Bank of Rockbridge is expected to open in Lexington, Va., in the first quarter, chairman and chief executive William C. Wiley said in Transcommunity's press release.
The company owns three Virginia banks: Bank of Powhatan, Bank of Goochland, and Bank of Louisa. The Powhatan bank is profitable; the others, less than three years old, are not.
