ASHEBORO, N.C., March 14, 2011 (GLOBE NEWSWIRE) -- FNB United Corp. (Nasdaq:FNBN), the holding company for CommunityONE Bank, N.A., and its wholly owned subsidiary, Dover Mortgage Company, today reported financial results for the fourth quarter of 2010. During the quarter, FNB United reported a net operating loss of $29.6 million, due largely to its recognition of provisions for loan losses of $22.4 million in the quarter. Adjusting for dividends payable to the U.S. Treasury on the preferred stock issued in the Capital Purchase Program, the fourth quarter 2010 loss attributable to common shareholders was $30.4 million, or $2.67 per diluted share. During the fourth quarter of 2009, FNB United recognized a provision for loan losses of $24.7 million and incurred a net loss of $28.9 million, or $2.53 per diluted share.
FNB United Corp. Announces Fourth Quarter Results
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