Main Street Banks Inc. of Atlanta said it earned $7.7 million in the fourth quarter, 10% less than a year earlier.
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One reason, it said Tuesday, was $300,000 of costs incurred as a result of the agreement announced Dec. 15 to sell itself to BB&T Corp. of Winston-Salem, N.C., for $623 million of stock.
Noninterest income fell 7% from the third quarter, to $6.8 million, because of less revenue from mortgages and Small Business Administration lending.
Full-year profits slipped 5%, to $29.4 million. At yearend the company had $2.4-billion of assets.
