October 22, 2009 / 9:27 PM / 10 years ago

UPDATE 1-Citizens Republic Q3 loss narrower than expected

* Q3 loss/shr $0.48 vs est $0.63

* Q3 net interest income down 7 pct to $80.9 mln

* Loan loss provision up by a third to $77.8 mln

* Shares rise 4 pct in after-mkt trade

Oct 22 (Reuters) - Loss-making Midwestern bank Citizens Republic Bancorp Inc CRBC.O posted a narrower-than-expected quarterly loss, despite a spike in loan loss provisions and expenses.

Third-quarter net loss was $62.1 million, or 48 cents a share, compared with a net loss of $18.9 million, or 20 cents a share, last year.

Analysts on average had expected a loss of 63 cents per share, according to Thomson Reuters I/B/E/S.

The Flint, Michigan-based company said net interest income fell 7 percent to $80.9 million in the quarter.

Provision for loan losses rose 33 percent to $77.8 million during the quarter.

Non-performing assets were $608 million as of Sept. 30, up from $364.4 million in the year-ago quarter, it said.

Earlier this year, the bank said it planned to increase the number of common shares to 1.05 billion, and that it would seek an additional $290 million from the U.S. Treasury.

Shares of the company were up 4 percent in trading after the bell. They closed at 66 cents Thursday on Nasdaq. (Reporting by Brenton Cordeiro in Bangalore; Editing by Gopakumar Warrier)

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