Shawshank, Va 3/22/12 (StreetBeat) – Mobile's BancTrust Financial Group Inc. (Nasdaq: BTFG), parent company of BankTrust, said Wednesday that it plans to seek a merger partner in the wake of a failed effort to recapitalize the company as an independent entity.According to the Press-Register, BancTrust also announced that it expected its net loss for 2011 to increase dramatically, from $1.4 million to more than $51 million.
Part of the loss was due to increasing its loan-loss provision by $13.25 million for the quarter and year that ended Dec. 31, 2011.
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