First Charter Corp. in Concord, N.C., said late Wednesday that it expects third- and fourth-quarter earnings shortfalls.

The $2.8 billion-asset company said it expects to earn $9.1 million to $9.6 million, or 29 cents to 31 cents a share, in each quarter. That is well below analyst predictions of 34 cents a share in the third quarter and 36 cents in the fourth, according to First Call/Thomson Financial.

First Charter blamed rising interest rates and diminished economic growth. It said those factors have softened loan demand and forced the company to boost loan-loss provisions in the last three months from 0.04% to 1.32%.

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