As a result of the continued decline in property values in Southwest Florida, Bank of Florida Corp. reported $3 million in write-downs for a large residential condo project and two eight-unit condominium buildings in Lee County and Lehigh Acres. Due to these write-offs, the company said the provision for loan losses increased to $6.2 million. In its preliminary earnings, the Naples-based bank said it expects to report a net loss of $3.4 million. For the third quarter, nonperforming loans increased to $29.1 million compared to $24.3 million as of the second quarter of 2008.
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