Valley Federal Savings Quarterly Earnings Plunge
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Valley Federal Savings & Loan reported it earned $132,000 in the third quarter that ended Sept. 30 compared to $5.9 million, or 96 cents a share, in the same period a year earlier.
However, Valley Fed’s profit was not enough to cover required payments to preferred dividend shareholders. As a result, Valley Fed posted a per share loss for the quarter of 3 cents a share.
For the nine months that ended Sept. 30, the company lost $3.1 million.
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