Security Capital Bancorp of Salisbury, N.C., lost $4 million in the quarter ended Sept. 30.

The loss, which was expected, stemmed primarily from the recognition of deferred tax liabilities in the merger of its three savings bank subsidiaries into a commercial bank, said David B. Jordan, vice chairman and chief executive officer. The conversion will be completed early next year. The $1.2 billion-asset bank will combine Omnibank, Citizen Savings, and Home Savings Bank under the same name, Security Capital Bank.

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