Superior Bancorp in Birmingham, Ala., said Tuesday that it swung to a fourth-quarter loss of $11.5 million, from a $1.1 million profit a year earlier.
The loss was largely attributed to an increase in the $3.2 billion-asset company's loan-loss provision. It was $13.2 million in the quarter, compared with a $3 million provision in the fourth quarter of 2008.
Nonperforming assets rose 20 basis points compared with the third quarter, to 6.26% of total assets. Nonperforming assets rose 354 basis points year over year.
Superior charged off 1.03% of average loans, up 32 basis points from the third quarter's chargeoffs and up 71 basis points from the fourth quarter of 2008.
Its total risk-based capital ratio was 10.69%, down from 12.15%.
