03:38 PM EDT, 05/14/2025 (MT Newswires) -- Accord Financial Corp. ( ACCFF ) late Wednesday afternoon said it swung to a loss in the first quarter, reflecting lower revenues, as it deals with an "uncertain business environment".

For Q1, Accord reported adjusted loss per common share basic and diluted of $0.14, compared to a profit of $0.18 a year earlier.

It had a net loss attributable to shareholders of $1.346 million, compared to net income of $632,000 a year earlier, and EPS loss basic and diluted of $0.16, compared to $0.07.

Accord had revenues of $15.509 million, down from $20.666 million.

President and CEO, Simon Hitzig, in a statement said: "Throughout 2024 Accord completed important strategic initiatives to streamline the business, control operating expenses and position the Company for a stronger 2025. However, the uncertain business environment continues to weigh on many companies in our core markets. In addition to tempering our credit appetite, the impact of unpredictable trade and economic conditions on our borrowers warrant an elevated allowance for expected credit losses."

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