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.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.