CapitalSource loss swells

Posted: 6:57 pm Mon, November 2, 2009
By Daily Record Staff

CapitalSource Inc., of Chevy Chase, a specialized commercial loan company, reported a third-quarter net loss of $274.2 million, or 87 cents per diluted share, compared to net income of $13.7 million, or 5 cents per diluted share, for the same period last year.

Net investment income was $135.7 million this year, compared to $157.3 million in the 2008 period. The company more than doubled its provision for loan losses this year, to $221.4 million in the 2009 quarter from $110.3 million in the year-ago period. It attributed the increase to “continuing stress” in its commercial real estate portfolio.