Britton & Koontz Capital Corporation                                                                                                                   EXHIBIT 99.1

500 Main Street
601-445-5576
P O Box 1407
601-445-2481  Fax
Natchez, MS  39121
http://www.bkbank.com,
 
corporate@bkbank.com
   
FOR IMMEDIATE RELEASE:
FOR MORE INFORMATION:
July 29,  2011
W. Page Ogden, President & CEO
(Nasdaq - BKBK)
William M. Salters, Treasurer & CFO
 

 
BRITTON & KOONTZ CAPITAL REPORTS EARNINGS FOR SECOND QUARTER 2011

Natchez, Mississippi – The Board of Directors of Britton & Koontz Capital Corporation (Nasdaq: BKBK, "B&K Capital" or "the Company") today reported net income and earnings per share for the three and six month period ended June 30, 2011.

Net income for the quarter ended June 30, 2011, was $393 thousand, or $.18 per diluted share, compared to $504 thousand, or $.24 per diluted share, for the quarter ended June 30, 2010.  The decrease for the three month period is primarily related to write-downs to other real estate of approximately $244 thousand in regard to updated appraisal reports. Additional items affecting the change in net income are higher mortgage-related income and sales from investment securities offset by lower net interest income.  For the six month period ended June 30, 2011, net income and diluted earnings per share was $969 thousand and $0.46, respectively, an increase from $567 thousand and $0.27, respectively, for the same period in 2010.  The increase for the six month period is due primarily to $875 thousand of additional gains on the sale of investment securities and higher mortgage-related income of $215 thousand offset by a drop in net interest income of $694 thousand resulting from a declining net interest margin and the additional charges to other real estate.

Net interest income for the three and six month periods ended June 30, 2011, decreased $386 thousand and $694 thousand, respectively, over the same period in 2010.  Average earning assets during the quarter ended June 30, 2011 held steady at $361 million while they dropped only slightly for the six month comparison.  Although average earning assets remained relatively stable, the shift in the mix of average earning assets was the primary driver of the Company’s lower net interest income for the three and six-month periods as cash flows from higher-yielding assets, loans and investment securities were moved to lower-yielding accounts in the first six months of 2011.  Even though the lower interest rate environment during the past year has made profitable reinvestment of cash flows back into the market difficult and loan demand remains flat, the decline in interest rates did not contribute materially to a decrease in net interest income.  The lower rates did contribute to the decline in interest rate spread and margin compression during both comparative periods.  Interest rate spread declined 39 and 32 basis points to 2.85% and 2.97% for the three and six month period ended June 30, 2011, respectively.  Interest rate margin declined 43 and 36 basis points to 3.20% and 3.32% for the three and six months ended June 30, 2011, respectively.

Non-interest income increased $722 thousand for the 2nd quarter of 2011 compared to the 2nd quarter of 2010, while non-interest income increased $1.1 million for the first six months of 2011 compared to the corresponding period in 2010.  Both period increases were primarily due to gains on the sale of investment securities and higher-mortgage related income.  Non-interest expense increased $408 thousand for the 2nd quarter of 2011 compared to the 2nd quarter of 2010, due mainly to the higher charges to other real estate and other smaller increases across the board.  Non-interest expense remained stable at $6.8 million for the six months ended June 30, 2011, increasing only $21 thousand compared to the corresponding period in 2010.
 
 
 
 

The following information was filed by Britton Koontz Capital Corp (BKBK) on Friday, July 29, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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