Brighton-based Peoples Federal Bancshares Inc., the holding company for Peoples Federal Savings Bank, reported a $2.7 million net loss for the third quarter ended Sept. 30, compared to the $308,000 net income for the same period last year.

The third quarter loss was the result of a non-recurring charge of $5.3 million for the contribution made to the Peoples Federal Savings Bank Charitable Foundation in the fourth quarter of 2010, according to a statement.

"As we work toward implementing a growth strategy, focused on building profitable lending and deposit relationships, we remain committed to serving our communities with the highest level and quality of customer service," said Maurice H. Sullivan Jr., chairman and chief executive officer. "Our local charities and neighborhoods will benefit from our support through the $5.3 million donation to the Peoples Federal Savings Charitable Foundation."