PLYMOUTH MEETING, Pa. -- Progress Financial Corp., the parent of Progress Federal Savings Bank, said it is recording a $1.5 million provision for the disposition of real estate owned during the quarter ended June 30.

The provision will expedite the disposition of almost all of the bank's foreclosed real estate during 1994, including its largest foreclosed property, which consists of a medical office building in the Bronx, New York.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.