Mid-Southern Bancorp, Inc. Reports Results Of Operations For The Third Quarter Of 2020
Net interest income after provision for loan losses decreased $177,000, or 10.1%, for the quarter ended September 30, 2020 to $1.6 million as compared to $1.8 million for the quarter ended September 30, 2019.
- Net interest income after provision for loan losses decreased $177,000, or 10.1%, for the quarter ended September 30, 2020 to $1.6 million as compared to $1.8 million for the quarter ended September 30, 2019.
- The average cost of interest-bearing liabilities decreased to 0.62% for the quarter ended September 30, 2020 from 0.76% for the same period in 2019.
- Noninterest expense decreased $362,000, or 19.2%, for the quarter ended September 30, 2020 as compared to the same period in 2019.
- The provision for the current quarter reflects expected credit losses based upon the conditions that existed as of September 30, 2020.