Because of accounting errors, VIST Financial Corp. in Wyomissing, Pa., is revising its results for the past four quarters.

In a Securities and Exchange Commission filing Monday, the company said that it was revising the fair value on its junior subordinated debentures.

The revisions will delay the filing of the $1.27 billion-asset company's third-quarter report, it said.

However, not all of the adjustments will have a negative impact.

The fourth-quarter 2008 profit increased from $1.7 million as originally reported, to $2.1 million, and this year's second-quarter loss narrowed from $1.58 million to $1.5 million.

Still, the first-quarter profit fell from the originally reported $1.6 million to $1.53 million. And the third-quarter profit fell from $528,000 to $155,000.

Robert D. Davis, VIST's president and chief executive officer, said in press release that the error stemmed from its using the wrong accounting rule to determine the value of the debt and its cash flow.

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