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The company, which has branches in central Alabama, had a loan loss provision of $11.1 million for the quarter.
"BancTrust's first-quarter loss reflected continued softness in the economy and its impact on real estate-based loans in our coastal markets, which accounted for the majority of our losses," W. Bibb Lamar Jr., CEO and president, said in a news release.
"We remain highly focused on addressing our non-performing loans and foreclosed real estate, and improving our credit quality."
To see more of the Montgomery Advertiser, or to subscribe to the newspaper, go to http://www.montgomeryadvertiser.com. Copyright (c) 2009, Montgomery Advertiser, Ala. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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