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TIB Financial Corp., based in Naples, Florida, has returned to profitability after undergoing a balance sheet restructuring by its new owner, North American Financial Holdings. The $1.8 billion-asset company reported a fourth-quarter profit of $560,000, a significant improvement from the $45.1 million loss it experienced the previous year. TIB attributed last year's loss to deferred tax asset writedowns, a large loan-loss provision, and a goodwill impairment charge. The company's net income rose 11% to $12.4 million, primarily due to fair-value accounting adjustments following the sale to North American. TIB has met the capital requirements set by regulators and has a leverage ratio of 8.1%, a Tier 1 risk-based capital ratio of 13.0%, and a total risk-based capital ratio of 13.1%.Generated from the website