Traditions Bancorp Reports Third Quarter 2024 Earnings: Net Loss Driven by Merger Expenses and Loan Loss Reserves

Traditions Bancorp, Inc. (TRBK), the parent company of Traditions Bank, reported a net loss of $0.8 million for the third quarter of 2024, primarily due to merger expenses and the allocation of $2.1 million to loan loss reserves. Despite the net loss, the company highlights positive growth in loans and deposits, along with strong mortgage banking income, while acknowledging the challenges of rising funding costs and a challenging rate environment.

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