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Marco Community Bancorp Inc., the holding company for Marco Community Bank and Commercial Lending Capital Corp., reported a net loss of $602,000, or 19 cents a share, in the third quarter.

That compared to profits of $402,000, or 13 cents a share, a year ago.

In a filing with the Securities and Exchange Commission, the company blamed the net loss primarily on the addition of $455,000 to the company's allowance for loan losses and $357,000 in expenses related to real estate that it owns.

Interest income totaled $2.6 million for the three months ending Sept. 30, compared to $3 million a year ago. Interest income on loans decreased to $383,000, due to lower yields resulting from higher levels of bad loans.

In the quarter, interest expense increased to $1.5 million, compared to $1.3 million a year ago.

The allowance for loan losses on Sept. 30 was $3.3 million. While management believes that its allowance for loan losses is “adequate,” more adjustments may be necessary if economic conditions change, the company said in its SEC filing.

Noninterest income was $46,000 in the quarter, compared to $59,000 a year ago.

Noninterest expenses increased to $1.7 million, from $1.1 million last year. The change is primarily due to increases in real estate expenses, professional fees, salaries and occupancy expense.