RANDOLPH, Mass. - One Bancorp said it may be unable to "continue as a going concern" because of potential regulatory claims, the weak New England economy and real estate market, and its pending bankruptcy.
The company added that the value of its securities may also be written down.
One Bancorp, which formerly operated a thrift in Maine, filed for Chapter 11 bankruptcy protection on July 14. It posted a second-quarter net loss of $3.7 million, compared with a loss of $4.3 million a year earlier.