Bad Tahoe construction loan hurts financial institution
By Rick Stouffer, Pittsburgh Tribune-Review
First Commonwealth Financial Corp. today reported a $3 million third-quarter loss, resulting from losses on problems loans.
For the three months ended Sept. 30, the Indiana, Pa.-based financial institution’s loss equaled 4 cents a share. A year ago, the bank reported a profit of $10.2 million, or 14-cents-a-share, in the July-September time period.