Feb. 08--CommunityOne Bancorp said Friday it had net income of $2.29 million for the fourth quarter, compared with a loss of $6.29 million a year ago.
CommunityOne completed in June the merging of Bank of Granite Corp. with FNB United Corp. The banks took the name CommunityOne Bank. The bank has 55 branches in central, southern and western North Carolina.
Diluted earnings were 11 cents a share compared with a loss of 29 cents a year ago.
Loan revenue for the fourth quarter was up 25.4 percent to $14.6 million. Fee revenue was down 40.4 percent to $4.15 million, primarily reflecting a 77 percent drop in mortgage fees to $235,000.
For fiscal 2013, the bank had a loss of $1.5 million compared with a loss of $40 million in fiscal 2012.
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