HARTFORD -- Northeast Federal Corp. said it lost $59.8 million in the third quarter, mainly because of a writedown of supervisory goodwill.

The $3.9 billion-asset company, parent of Northeast Savings, said the writedown reflected "deteriorating economic conditions in our primary market areas and the impact of" Office of Thrift Supervision regulations.

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.