Britton & Koontz Capital Corporation reported first-quarter earnings of $600,000 or 28 cents a share, a 41% drop from the year before. The parent company of Britton & Koontz Bank says the drop from the $846,000 that was earned in 2008 was caused by an increase in the allowance for possible loan losses. B&K says it experienced an increase in nonperforming loans during the first three months of the year, mainly in its Mississippi locations. The Natchez, Miss.-based bank says its assets grew over the past year, from $366 million in the first quarter of 2008, to $408 million in early 2009.
B reports drop in earnings
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