Capital Bank Corp. in Raleigh, N.C., had a loss of $9.7 million in the third quarter.
The dismal results came after the $1.6 billion-asset company said it would sell a majority of its common stock to private-equity-backed North American Financial Holdings Inc. The results were reported Friday.
Capital Bank lost $14.2 million in the second quarter but earned $3 million a year earlier. The huge swing from last year's quarter was largely because of a $3.2 million increase in the loan-loss provision.
