Citing deteriorating credit quality, TIB Financial Corp., of Naples, Fla., said Thursday it lost $13.3 million in the fourth quarter, roughly double the amount it lost a year earlier.

The $1.6 billion-asset company hiked its provision for loan losses 150%, to $15.1 million, as chargeoffs increased 235%, to $9.4 million, and nonperforming loans increased 148%, to $39.8 million. The nonperformers made up 3.25% of total loans at yearend.

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