From staff reports

BancTrust Financial Group Inc. said Friday that net income for 2007 dropped by more than half, from $13.3 million in 2006 to $6.2 million, or from $1.17 per share to 49 cents a share.

The Mobile-based financial institution said several factors contributed to the drop &8212; a jump in non-performing loans, a deteriorating housing market and economic uncertainty in some of the bank&8217;s markets, particularly coastal Alabama and Florida.

Still, company officials said they are optimistic about their strategies going forward and the fact that the bank&8217;s activities are not focused heavily on the coast.

BancTrust Financial Group Inc. is the holding company for BankTrust, which has corporate office in Selma.