WGNB Corp., Carrollton, Ga., has announced increases in its nonperforming assets and loan loss provision for the fourth quarter due to deteriorating conditions in the residential real estate market.The company said it expects to report a loan loss provision of approximately $2.3 million for the quarter, compared with $750,000 in the third quarter, and nonperforming assets of $42.0 million, compared with $23.5 million in the third quarter. "In response to market conditions, management has been actively reviewing our loan portfolio with a particular emphasis on our residential real estate exposure," said H.B. "Rocky" Lipham III, WGNB's chief executive officer. "We have spent the last three months evaluating credit, analyzing valuations, and aggressively collecting on problem residential real estate loans." The company can be found on the Web at http://www.wgnb.com.

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