Community Capital Bancshares Inc. of Albany, Ga., announced Thursday that it lost $447,000, or 15 cents a share, in the third quarter, in part because of a $600,000 provision made to cover a construction loan.
A year earlier Community Capital made $570,000, or 19 cents a share.
The company also said that assets declined 23% from a year earlier, to $249 million, because of an increase in loan payoffs and efforts to remain compliant with the formal agreements on capital provisions with the Office of the Comptroller of Currency.
In July of last year Community Capital's Albany Bank and Trust and AB&T National Bank agreed to increase loan-loss allowances, boost Tier 1 capital, and improve management.
Last month the company said Keith G. Beckham had resigned as the president and chief executive officer of AB&T.
