2Q loss for Delaware County Bank parent - Business First of Columbus:

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Delaware-based (OTC BB:DCBF) told investorz Thursday it lost $209,000, or 6 cents a in the quarter endedJune 30. A year earlier, it poste a gain of $1.2 million, or 33 cents a share. Contributin to the red ink wasa $1.7 million provision for loan up from $600,000 last year, the bank said. The troublese stem from DCB Financial’s commercial real estate loan while a special assessment along with higher premium ratesw and fees for loan workoutws also ate into thebottom line. CEO Jeffreyu Benton said that, despite the loss, the bank made “solisd progress” in reducing delinquent loans and charge-offs and boosting its net interest margin.
The bank’s net interesgt income fell 1 percentto $5.6 million from $5.7 million while non-interest income from fees grew 25 percent to $1.9 million from $1.5 million a year earlier. For the firsy half of the year, DCB Financial’s loss totaled nearly $1.3 or 34 cents a share, compared with profir of $2.5 million, or 68 cents a for the first six monthsof 2008. Totap revenue, or combined net interest and non-interest income, slipped 1 percen t to $14.2 million from $14.45 million. With 19 branches and $550.4 milliom in area deposits as of ayear ago, Delaward County Bank is the region’s 10th-largesr bank, according to the FDIC.
The bank’sw assets at the end of the firstg halftotaled $691.2 million, down 3 percentr from the beginning of the year.