Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener. On March 12, 2009, TIB Financial ( TIBB) reported that its Q4 FY08 net loss widened, hurt by increased provision for loan losses. Net loss increased to $13.42 million or $0.93 per share from $6.50 million or $0.49 per share in the same quarter of the last year. The latest quarterly consensus estimate was a loss of $0.14 per share. Total interest and dividend income dropped 11.1% to $21.22 million from $23.86 million during Q4 FY07. Total average interest earning assets rose 13.8% to $1.50 billion, while yield on average interest earning assets declined to 5.63% from 7.20% in Q4 FY07. Total interest expense slipped 16.1% to $10.50 million from $12.51 million. Total average interest bearing liabilities climbed 17.3% to $1.34 billion, whereas rate paid on interest bearing liabilities dived 122 basis points to 3.12% from 4.34%. Subsequently, net interest income edged down 5.6% to $10.72 million from $11.35 million. As a result, net interest margin contracted to 2.85% from 3.44%, while net interest spread decelerated to 2.51% from 2.86%. Non-interest loss was at $2.76 million, down 35.5% from $4.27 million in the year-ago quarter. TIBB's provision for credit losses more than doubled to $15.10 million, while net loan charge-offs jumped more than three-fold to $9.35 million. Furthermore, allowance for loan losses as a percentage of total loans advanced to 1.94% from 1.32% in Q4 FY07. Finally, non-performing loans (NPL) soared 147.3% to $39.78 million, while NPL as a percentage of gross loans increased to 3.25% from 1.42% a year ago. Moreover, the bank remains well capitalized, as its Tier 1 and total capital to risk weighted assets stood at 11.3% and 12.6% as of December 31, 2008. For FY08, TIBB's total interest and dividend income slipped 6.9% to $88.16 million, while non-interest income plunged 42.2% to $784,000. Moreover, the bank's net loss widened to $20.93 million from $2.42 million a year ago.