NATCHEZ — Publicly traded Britton & Koontz Capital Corp. has suspended its quarterly cash dividend for the foreseeable future in the wake of discovery by the bank’s board that second quarter financial statements were inaccurate.

Britton and Koontz Capital Corp. is the holding company for Britton and Koontz Bank, which operates banks in Natchez, Vicksburg and Baton Rouge. It is headquartered in Natchez.

The report outlining the discovery was filed Tuesday with the U.S. Securities and Exchange Commission after the bank’s management presented its findings and made its recommendations to the board.

The bank intends to amend the financials for the three-month and six-month periods ending June 30 to reflect a second quarter net income after tax of $229,000, or 11 cents a share.

The previously reported numbers showed an income of $393,000 or 18 cents a share.

The company’s net income for the six-month period ending June 30 will be $805,000, or 38 cents a share, down from previously reported numbers of $969,000 or 45 cents a share.

In addition, the loan loss provision for the second quarter of 2011 will increase from $300,000 to $562,000 and from $1.1 million to $1.3 million for the six-month period ending June 30.

The allowance for loan and lease losses will increase from $3.3 million to $3.5 million.

Shareholders’ equity from June will decrease from $39.9 million to $39.8 million.

The third quarter allowance for loan and lease losses is estimated to be between $1 million to $1.25 million in the aggregate. An additional third quarter provision is in response to the transfer of a $4.2 million commercial real estate loan to non-accrual, impaired status.

The report says management will re-evaluate the company’s disclosure controls and consider restoring the dividend as the company’s loan and securities portfolios allow.

B&K stock (BKBK) plummeted after the news. The stock closed Thursday at $6.75, down 75 cents, or 10 percent, on the day. The stock had traded at $11.30 on Monday before the earning inaccuracies were publicized. Investors had shaved 40 percent off its stock price by Thursday.