Friday, May 17, 2002
W. Chester bank covers bad loans
The parent of Peoples Community Bank in West Chester Township says it has set aside an extra $1 million to cover problem loans it made to the Erpenbeck Co.
Peoples Community Bancorp, in a quarterly report filed with the government Wednesday, said a $3.7 million increase in nonperforming loans came mainly from a $3.5 million boost tied to a series of loans to the financially troubled home builder.
Peoples Community Bank, not affiliated with Peoples Bank of Northern Kentucky, said it added $1 million to loan-loss reserves due to the lending relationship with the builder.
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