United Security Bancshares Inc. of Thomasville, Ala., said its fourth-quarter earnings fell 15% from a year earlier, to $3.1 million.
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Earnings for the full year rose 4%, to $13.7 million, the $621 million-asset United Security said Monday.
Fourth-quarter noninterest income fell 7%, to $1.3 million, largely because of a drop in overdraft and insufficient funds charges on checking accounts, the company said. Noninterest expenses rose 9%, to $5.9 million, as the cost of salaries, health insurance, and incentive pay increased.
United Security also raised its loan-loss provision by 30%, to $1.4 million. The company did not return phone calls requesting comment.
