State Bank Corp. of Lake Havasu City, Ariz., cited credit costs and issues with deferred tax assets in posting a fourth-quarter loss of $2.9 million.
That compared with a $356,000 loss in the fourth quarter of 2009. For all of 2010 the loss was $10.2 million.
The fourth quarter of 2010 included a $2 million valuation allowance of a deferred tax asset and a $1.1 million loan-loss provision.