MetroCorp Bancshares Inc. in Houston announced a revision to its fourth-quarter results, widening its loss largely as a result of additional loan-loss provisioning.
The $1.6 billion-asset, two-bank holding company announced late Wednesday that it was revising its loss to $7.3 million for the quarter, up from the $5.9 million it had reported. MetroCorp increased its provision for loan losses by $2.2 million, to a total provision of $13 million.
Of the $2.2 million rise, $1.2 million was related to weakening quality in its Texas loan portfolio and the remainder was related to two commercial real estate loans in California.
