MANITOWOC, Wis. (AP) _ County Bancorp Inc. (ICBK) on Thursday reported a first-quarter loss of $5.2 million, after reporting a profit in the same period a year earlier.
The Manitowoc, Wisconsin-based bank said it had a loss of 78 cents per share. Losses, adjusted for asset impairment costs, were 4 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The bank that lends to dairy farmers posted revenue of $16.8 million in the period. Its revenue net of interest expense was $11.5 million, also falling short of Street forecasts.
County Bancorp shares have decreased 24% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.50, a rise of 6% in the last 12 months.