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Liberty Bell Bank in Marlton, N.J., said it has been victimized by a check-kiting incident, which widened its loss in the second quarter.
July 30
Roma Financial (ROMA) in Robbinsville, N.J., swung to a loss in the second quarter thanks to a check-kiting scheme.
Meanwhile, it still awaits Federal Reserve Board approval of its sale to Investors Bancorp (ISBC).
The $1.7 billion-asset Roma reported a quarterly loss of $355,000, compared with a $1 million profit a year earlier, it announced Friday. The company lost $1.1 million in a check-kiting scheme conducted by one of its customers, it
"This loss overshadowed improving loan quality which significantly lowered provisions for loan losses in both the quarter and six-month period compared to the same time frames in 2012," Peter Inverso, Roma's president and chief executive, said in a news release.
Roma's