After initially reporting a second-quarter profit of $434,000, a Texas community banking company is restating its results to show a $709,000 loss.

Surety Capital Corp. in Hurst, Tex., announced the $1.14 million swing last week after boosting loss reserves to cover $5.4 million in chargeoffs.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.