PHILADELPHIA -- Meritor Savings Bank said it lost $8.5 million in the second quarter, half the $17 million loss reported a year earlier. The per-share figure fell to 15 cents from 49 cents.

The thrift, which has $5.6 billion in assets, lowered its provision for possible credit losses by $6.4 million, to $4.4 million. Its net interest income was down a slight $100,000, to $19.5 million, despite a $700,000 decline in interest-earning assets to $5.2 billion at June 30.

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