Britton & Koontz Capital Corp. of Natchez, Miss., has revised its fourth-quarter results to reflect a loss instead of a gain.

The $393.8 million-asset company said Wednesday that it re-evaluated its potential exposure to two commercial real estate loans in Mississippi, and decided to nearly triple its loan-loss provision to $1.5 million from $550,000.

The increased provision caused fourth-quarter earnings to decline $569,000, resulting in a $58,000 loss. Earnings for the year were $1.6 million — 59% less than originally reported.

Britton & Koontz said it may have to charge off some or all of the credit exposure from the two loans, equal to about $1.5 million, by the end of the first quarter.

The bank foreclosed on real estate securing one of the loans in January, but an insurance claim is pending for substantial damage and theft that occurred during the foreclosure proceedings, according to a press release.

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