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Pennsylvania's five new banks had a rough time this first half of the year, with Pittsburgh's Penn Capital being no exception.
All five institutions posted negative annualized net income for the period ended June 30, according to Danielson Associates Inc. The Rockville, Md.-based research firm stated the losses were not abnormal, but they were higher than deficits among new banks in recent years.
Penn Capital, which opened shop in September 1990, posted a $262,000 annualized net loss for the period ended June 30. Assets stood at $24 million, while …