Beverly National Corp. and its subsidiary, Beverly National Bank, has reported a net loss for the third quarter of $2.7 million, compared to net income of $921,000 for the same quarter last year, a $3.6 million negative swing.

Net income for the quarter was impacted by charges, pre-tax, of $3.7 million related to the write-down of the company’s investment in Fannie Mae and Freddie Mac preferred stocks, the company said.

Beverly National Corp. also reported a net loss for the nine months ended Sept. 30 of $748,000, compared to net income of $2.6 million for the same period last year.