LAKE WORTH, Fla. -- Suburban Bankshares lost $82,000 in the third quarter, compared with a $985,000 loss the same time a year ago.
John Dorland, Suburban's president and chief executive, said the third quarter loss was primarily due to costs associated with a terminated merger agreement with Command Credit Corp. The bank lost $148,000 for the nine months ended Sept. 30, compared with loss of $3.3 million in the same period a year ago.
Mr. Dorland said the bank is currently negotiating with several parties a merge or sale of the company.
Suburban, which has $165 million in assets, improved its leveraged capital ratio to 3.63%, up from 3.12% as of Dec. 31, 1992. Restructured and nonperforming assets fell to $12 million in the first nine months of the year, compared with $14 million.