Gastonia-based Citizens South Banking Corp. reported a $2.3 million fourth-quarter loss, badly missing analysts' estimates amid significantly higher loan charge-offs and loss provisions.

Its loss of 20 cents per share fell well below the consensus estimate of a 1-cent loss per share. That compares with a loss of $2 million in the same time period last year, and a gain of $126,000 in the third quarter.

The bank charged off $5.9 million in loans in the fourth quarter after an "extensive internal loan review," the bank said.

"While we are disappointed with the loss in the fourth quarter, we believe that the steps we are taking ultimately strengthen our balance sheet and position the company for an accelerated pace toward normalized earnings," CEO Kim Price said in a statement.

For the full year, Citizens South lost $1.3 million, or 11 cents per share. Andrew Dunn

Salisbury bank's new head

Piedmont Community Bank Holdings Inc. on Monday announced a leadership change at Community Bank of Rowan, the Salisbury company it bought last year.

Seamus Donaldson has been named Rowan market president, replacing former president and chief executive Bruce Jones, who is leaving Community Bank of Rowan to join his wife's property management and realty firm.

Donaldson, who previously served as the bank's senior vice president and chief credit officer, is a Salisbury native who "sees the importance of continuing the bank's effort to support and cater to the needs of the community," officials said in a release.

He has more than a dozen years of banking experience, including six at Rowan, where he and Jones worked closely together.

Community Bank of Rowan was established in 2006 and eventually grew to 23 employees at two locations, offering personal and business banking, mortgages, construction lending and other services. Raleigh-based Piedmont Community Bank Holdings acquired the company - which had $140 million in assets - in April. Kirsten Valle Pittman

Ethanol backs NASCAR

American Ethanol, which promotes the U.S.-made fuel, says it will sponsor drivers for Richard Childress Racing and RAB Racing for 2012.

It will serve as the primary sponsor for driver Austin Dillon in six races in NASCAR's Nationwide Series and one Sprint Cup Series event. It will also serve as an associate sponsor for all of Childress Racing's drivers, including veterans Kevin Harvick, Jeff Burton and Paul Menard.

American Ethanol will also partner with RAB Racing driver Kenny Wallace for the Daytona 500 in the Sprint Cup Series and five races in the Nationwide Series.

NASCAR's three series moved to Sunoco Green E15, which blends 15 percent ethanol into race fuel, for 2011 and will continue to fuel the series this year. Bruce Henderson

RIM replaces CEOs

Research In Motion Ltd. shares fell Monday after the company replaced co-CEOs Jim Balsillie and Mike Lazaridis with an insider who said he sees no need for radical change as the company struggles to compete with Apple Inc.

Thorsten Heins, a chief operating officer who joined RIM four years ago from Siemens AG, will replace the pair in the CEO post. Director Barbara Stymiest will take over as chairman.

RIM fell 8.5 percent to $15.56 at the close of trading Monday, the biggest drop in a month, after Heins told investors that no "drastic change" is needed. "Heins is a product execution guy, he's not a visionary," said Ehud Gelblum, an analyst at Morgan Stanley. "Heins has to give people a reason why they need a BlackBerry." Bloomberg