Jacksonville Bancorp Inc. (JAXB) Friday reported a loss for the second quarter compared to a profit last year, due mainly to higher loan loss provisions.
The Jacksonville, Florida-based company's second-quarter net loss was $11.82 million or $2.01 per share, compared to a net profit of $1.05 million or $0.18 per share last year.
Net interest income for the quarter dropped to $5.10 million from $6.29 million in the year-ago quarter. Total non-interest income declined to $290 thousand from $404 thousand in the prior-year quarter.
Loan loss provisions for the quarter increased to $11.58 million from $1.11 million last year.
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