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8-K - FORM 8-K - UNITED COMMUNITY FINANCIAL CORP | c14636e8vk.htm |
EXHIBIT 99
275 West Federal Street
Youngstown, Ohio 44503-1203
Youngstown, Ohio 44503-1203
FOR IMMEDIATE RELEASE
Media Contact: | Investor Contact: | |
Colleen Scott | James R. Reske | |
Vice President of Marketing | Chief Financial Officer | |
Home Savings | United Community Financial Corp. | |
(330) 742-0638 | (330) 742-0592 | |
cscott@homesavings.com | jreske@ucfconline.com |
United Community Financial Corp. Announces Fourth Quarter Results
YOUNGSTOWN, Ohio (March 25, 2011) United Community Financial Corp. (Company) (Nasdaq:
UCFC), holding company of The Home Savings and Loan Company of Youngstown, Ohio (Home Savings),
today reported a consolidated net loss of $17.3 million, or $(0.56) per diluted share, for the
three months ended December 31, 2010. This compares to a net loss of $16.3 million, or $(0.54) per
diluted share, for the three months ended December 31, 2009. The Company also reported a
cumulative net loss of $37.3 million, or $(1.22) per diluted share, for the twelve months ended
December 31, 2010 as compared to a cumulative net loss of $16.8 million, or $(0.56) per diluted
share, for the twelve months ended December 31, 2009.
The increased losses in both the fourth quarter and the twelve months ended December 31, 2010 are
primarily a result of increases in the provision for loan losses. The increased provision in both
time periods is a result of a higher level of chargeoff activity, additional loan downgrades within
the commercial real estate portfolio and increased specific reserves assigned to a number of
commercial real estate loans.
Selected fourth quarter results:
| Nonperforming loans reduced $3.2 million to $139.5 million from the prior quarter |
||
| Nonperforming assets reduced $3.1 million to $179.9 million from the prior last quarter |
||
| Net interest margin reduced 25 basis points to 3.17% from the prior quarter |
1
| Increased the allowance for loan losses by $10.0 million from the prior quarter |
||
| Home Savings Tier 1 leverage ratio reduced 39 basis points from the prior quarter to
7.84% |
||
| Home Savings Total Risk Based Capital reduced 58 basis points from the prior quarter to
12.54% |
||
| Book value per share and tangible book value per share each declined $0.82 from the
prior quarter to $5.69 and $5.67, respectively |
Asset Quality
Nonperforming loans at December 31, 2010 decreased to $139.5 million, compared to $142.7 million at
September 30, 2010, a decrease of $3.2 million during the period. Real estate owned and other
repossessed assets were $40.3 million at December 31, 2010 and September 30, 2010. Nonperforming
assets decreased $3.1 million, from $183.0 million at September 30, 2010, to $179.9 million at
September 30, 2010.
Mr. Bevack commented that Home Savings will continue to take measures to accomplish the goal of
restoring financial strength and profitability to the Company. Our key initiative is improving
asset quality. He added, It is very important that we find resolution to problem assets as
quickly and economically as possible. While we have seen improvement in the last half of the year
with a decrease in nonperforming assets, it is our desire to accelerate this trend.
Capital and Book Value
Home Savings Tier 1 leverage ratio was 7.84% as of December 31, 2010, compared to 8.22% at
December 31, 2009. The Companys total risk-based capital ratio was 12.54% at December 31, 2010,
as compared to 12.80% at December 31, 2009. Book value per share and tangible book value per share
at December 31, 2010 were $5.69 and $5.67, respectively.
Home Savings is a wholly-owned subsidiary of the Company and operates 38 full-service banking
offices and six loan production offices located throughout Ohio and western Pennsylvania.
Additional information on the Company and Home Savings may be found on the Companys web site:
www.ucfconline.com.
###
2
When used in this press release, the words or phrases believes, will likely result, are
expected to, will continue, is anticipated, estimate, project or similar expressions are
intended to identify forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties,
including changes in economic conditions in the Companys market area, changes in policies by
regulatory agencies, fluctuations in interest rates, demand for loans in the Companys market area,
and competition that could cause actual results to differ materially from historical earnings and
those presently anticipated or projected. The Company cautions readers not to place undue reliance
on any such forward-looking statements, which speak only as of the date made. The Company advises
readers that the factors listed above could affect the Companys financial performance and could
cause the Companys actual results for future periods to differ materially from any opinions or
statements expressed with respect to future periods in any current statements.
The Company does not undertake, and specifically disclaims any obligation, to release publicly the
result of any revisions that may be made to any forward-looking statements to reflect events
or circumstances after the date of such statements or to reflect the occurrence of anticipated or
unanticipated events.
3
UNITED COMMUNITY FINANCIAL CORP.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
December 31, | December 31, | |||||||
2010 | 2009 | |||||||
(Dollars in thousands) | ||||||||
Assets: |
||||||||
Cash and deposits with banks |
$ | 18,627 | $ | 22,330 | ||||
Federal funds sold and other |
18,480 | 22,744 | ||||||
Total cash and cash equivalents |
37,107 | 45,074 | ||||||
Securities: |
||||||||
Available for sale, at fair value |
362,042 | 281,348 | ||||||
Loans held for sale |
10,870 | 10,497 | ||||||
Loans, net of allowance for loan losses of $50,883 and $42,287, respectively |
1,649,486 | 1,866,018 | ||||||
Federal Home Loan Bank stock, at cost |
26,464 | 26,464 | ||||||
Premises and equipment, net |
22,076 | 23,139 | ||||||
Accrued interest receivable |
7,720 | 9,090 | ||||||
Real estate owned and other repossessed assets |
40,336 | 30,962 | ||||||
Core deposit intangible |
485 | 661 | ||||||
Cash surrender value of life insurance |
27,303 | 26,198 | ||||||
Other assets |
13,409 | 18,976 | ||||||
Total assets |
$ | 2,197,298 | $ | 2,338,427 | ||||
Liabilities and Shareholders Equity |
||||||||
Liabilities: |
||||||||
Deposits: |
||||||||
Interest bearing |
$ | 1,551,210 | $ | 1,642,722 | ||||
Non-interest bearing |
138,571 | 126,779 | ||||||
Total deposits |
1,689,781 | 1,769,501 | ||||||
Borrowed funds: |
||||||||
Federal Home Loan Bank advances |
202,818 | 221,323 | ||||||
Repurchase agreements and other |
97,797 | 96,833 | ||||||
Total borrowed funds |
300,615 | 318,156 | ||||||
Advance payments by borrowers for taxes and insurance |
20,668 | 19,791 | ||||||
Accrued interest payable |
809 | 1,421 | ||||||
Accrued expenses and other liabilities |
9,370 | 9,775 | ||||||
Total liabilities |
2,021,243 | 2,118,644 | ||||||
Shareholders Equity: |
||||||||
Preferred stock-no par value; 1,000,000 shares authorized and unissued |
| | ||||||
Common stock-no par value; 499,000,000 shares authorized; 37,804,457
shares issued and 30,937,704 and 30,897,825 shares, respectively, outstanding |
142,318 | 145,775 | ||||||
Retained earnings |
111,049 | 148,674 | ||||||
Accumulated other comprehensive income (loss) |
(4,778 | ) | 4,110 | |||||
Unearned employee stock ownership plan shares |
| (5,821 | ) | |||||
Treasury stock, at cost, 6,866,753 and 6,906,632 shares, respectively |
(72,534 | ) | (72,955 | ) | ||||
Total shareholders equity |
176,055 | 219,783 | ||||||
Total liabilities and shareholders equity |
$ | 2,197,298 | $ | 2,338,427 | ||||
UNITED COMMUNITY FINANCIAL CORP.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
For the Three Months Ended | For the Twelve Months Ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2010 | 2009 | 2010 | 2009 | |||||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||||
Interest income |
||||||||||||||||
Loans |
$ | 22,063 | $ | 27,590 | $ | 97,413 | $ | 118,122 | ||||||||
Loans held for sale |
167 | 428 | 415 | 1,006 | ||||||||||||
Securities: |
||||||||||||||||
Available for sale |
3,011 | 2,964 | 11,727 | 11,455 | ||||||||||||
Federal Home Loan Bank stock dividends |
267 | 300 | 1,158 | 1,223 | ||||||||||||
Other interest earning assets |
10 | 7 | 35 | 57 | ||||||||||||
Total interest income |
25,518 | 31,289 | 110,748 | 131,863 | ||||||||||||
Interest expense |
||||||||||||||||
Deposits |
6,808 | 10,223 | 32,062 | 45,985 | ||||||||||||
Federal Home Loan Bank advances |
881 | 1,022 | 3,588 | 5,797 | ||||||||||||
Repurchase agreements and other |
941 | 951 | 3,737 | 4,167 | ||||||||||||
Total interest expense |
8,630 | 12,196 | 39,387 | 55,949 | ||||||||||||
Net interest income |
16,888 | 19,093 | 71,361 | 75,914 | ||||||||||||
Provision for loan losses |
22,551 | 22,740 | 62,427 | 49,074 | ||||||||||||
Net interest income after provision for loan losses |
(5,663 | ) | (3,647 | ) | 8,934 | 26,840 | ||||||||||
Non-interest income |
||||||||||||||||
Non-deposit investment income |
319 | 350 | 1,619 | 1,424 | ||||||||||||
Service fees and other charges |
2,631 | 2,286 | 6,369 | 8,531 | ||||||||||||
Net gains (losses): |
||||||||||||||||
Securities available for sale |
1,508 | | 8,803 | 1,863 | ||||||||||||
Other -than-temporary loss on equity securities |
||||||||||||||||
Total impairment loss |
(14 | ) | (56 | ) | (58 | ) | (778 | ) | ||||||||
Loss recognized in other comprehensive income |
| | | | ||||||||||||
Net impairment loss recognized in earnings |
(14 | ) | (56 | ) | (58 | ) | (778 | ) | ||||||||
Mortgage banking income |
1,909 | 2,677 | 4,365 | 6,164 | ||||||||||||
Real estate owned and other repossessed assets |
(1,611 | ) | (1,617 | ) | (6,123 | ) | (7,918 | ) | ||||||||
Gain on retail branch sale |
| | 1,387 | | ||||||||||||
Other income |
1,731 | 1,211 | 5,531 | 4,632 | ||||||||||||
Total non-interest income |
6,473 | 4,851 | 21,893 | 13,918 | ||||||||||||
Non-interest expense |
||||||||||||||||
Salaries and employee benefits |
7,852 | 7,148 | 32,699 | 30,493 | ||||||||||||
Occupancy |
890 | 871 | 3,583 | 3,669 | ||||||||||||
Equipment and data processing |
1,678 | 1,557 | 6,627 | 6,525 | ||||||||||||
Franchise tax |
499 | 399 | 2,011 | 2,083 | ||||||||||||
Advertising |
286 | 459 | 860 | 1,136 | ||||||||||||
Amortization of core deposit intangible |
40 | 51 | 176 | 223 | ||||||||||||
Deposit insurance premiums |
1,375 | 1,050 | 5,686 | 7,304 | ||||||||||||
Professional fees |
1,185 | 946 | 4,106 | 3,520 | ||||||||||||
Real estate owned and other repossessed asset expenses |
2,313 | 431 | 4,971 | 2,713 | ||||||||||||
Other expenses |
2,254 | 1,742 | 7,612 | 5,974 | ||||||||||||
Total non-interest expenses |
18,372 | 14,654 | 68,331 | 63,640 | ||||||||||||
Income (loss) before income taxes and discontinued operations |
(17,562 | ) | (13,450 | ) | (37,504 | ) | (22,882 | ) | ||||||||
Income taxes expense (benefit) |
(231 | ) | 2,812 | (231 | ) | (1,160 | ) | |||||||||
Net income (loss) before discontinued operations |
(17,331 | ) | (16,262 | ) | (37,273 | ) | (21,722 | ) | ||||||||
Discontinued operations |
||||||||||||||||
Net income of Butler Wick Corp. |
| | | 4,949 | ||||||||||||
Net income (loss) |
$ | (17,331 | ) | $ | (16,262 | ) | $ | (37,273 | ) | $ | (16,773 | ) | ||||
Earnings (loss) per share |
||||||||||||||||
Basiccontinuing operations |
$ | (0.56 | ) | $ | (0.54 | ) | $ | (1.22 | ) | $ | (0.73 | ) | ||||
Basicdiscontinued operations |
| | | 0.17 | ||||||||||||
Basic |
(0.56 | ) | (0.54 | ) | (1.22 | ) | (0.56 | ) | ||||||||
Dilutedcontinuing operations |
(0.56 | ) | (0.54 | ) | (1.22 | ) | (0.73 | ) | ||||||||
Diluteddiscontinued operations |
| | | 0.17 | ||||||||||||
Diluted |
(0.56 | ) | (0.54 | ) | (1.22 | ) | (0.56 | ) |
UNITED COMMUNITY FINANCIAL CORP.
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
At or for the quarters ended | ||||||||||||||||||||
December 31, 2010 | September 30, 2010 | June 30, 2010 | March 31, 2010 | December 31, 2009 | ||||||||||||||||
(In thousands, except per share data) | ||||||||||||||||||||
Financial Data |
||||||||||||||||||||
Total assets |
$ | 2,197,298 | $ | 2,317,948 | $ | 2,314,109 | $ | 2,279,719 | $ | 2,338,427 | ||||||||||
Total loans, net |
1,649,486 | 1,726,381 | 1,786,038 | 1,823,899 | 1,866,018 | |||||||||||||||
Total securities |
362,042 | 390,636 | 307,154 | 272,239 | 281,348 | |||||||||||||||
Total deposits |
1,689,781 | 1,685,033 | 1,696,531 | 1,728,592 | 1,769,501 | |||||||||||||||
Total shareholders equity |
176,055 | 201,333 | 212,691 | 214,482 | 219,783 | |||||||||||||||
Net interest income |
16,888 | 18,786 | 17,971 | 17,716 | 19,093 | |||||||||||||||
Provision for loan losses |
22,551 | 17,116 | 10,310 | 12,450 | 22,740 | |||||||||||||||
Noninterest income, excluding other-than-temporary impairment losses |
6,487 | 4,159 | 4,745 | 6,560 | 4,907 | |||||||||||||||
Net impairment losses recognized in earnings |
14 | 44 | | | 56 | |||||||||||||||
Noninterest expense |
18,372 | 15,700 | 17,291 | 16,968 | 14,654 | |||||||||||||||
Income tax expense (benefit) |
(231 | ) | | | | 2,812 | ||||||||||||||
Net loss |
(17,331 | ) | (9,915 | ) | (4,885 | ) | (5,142 | ) | (16,262 | ) | ||||||||||
Share Data |
||||||||||||||||||||
Basic loss per share |
$ | (0.56 | ) | $ | (0.32 | ) | $ | (0.16 | ) | $ | (0.17 | ) | $ | (0.54 | ) | |||||
Diluted loss per share |
(0.56 | ) | (0.32 | ) | (0.16 | ) | (0.17 | ) | (0.54 | ) | ||||||||||
Book value per share |
5.69 | 6.51 | 6.88 | 6.94 | 7.11 | |||||||||||||||
Tangible book value per share |
5.67 | 6.49 | 6.87 | 6.92 | 7.09 | |||||||||||||||
Market value per share |
1.34 | 1.33 | 1.68 | 1.50 | 1.45 | |||||||||||||||
Shares outstanding at end of period |
30,938 | 30,925 | 30,898 | 30,898 | 30,898 | |||||||||||||||
Weighted average shares outstandingbasic |
30,906 | 30,899 | 30,039 | 29,955 | 29,879 | |||||||||||||||
Weighted average shares outstandingdiluted |
30,906 | 30,899 | 30,039 | 29,955 | 29,879 | |||||||||||||||
Key Ratios |
||||||||||||||||||||
Return on average assets |
-3.06 | % | -1.70 | % | -0.85 | % | -0.90 | % | -2.69 | % | ||||||||||
Return on average equity |
-33.91 | % | -18.41 | % | -8.91 | % | -9.18 | % | -27.18 | % | ||||||||||
Net interest margin |
3.17 | % | 3.42 | % | 3.30 | % | 3.28 | % | 3.33 | % | ||||||||||
Efficiency ratio |
78.08 | % | 66.80 | % | 82.92 | % | 78.59 | % | 56.97 | % | ||||||||||
Capital Ratios |
||||||||||||||||||||
Tier 1 leverage ratio |
7.84 | % | 8.23 | % | 8.71 | % | 8.47 | % | 8.22 | % | ||||||||||
Tier 1 risk-based capital ratio |
11.26 | % | 11.85 | % | 11.90 | % | 11.47 | % | 11.53 | % | ||||||||||
Total risk-based capital ratio |
12.54 | % | 13.12 | % | 13.16 | % | 12.73 | % | 12.80 | % | ||||||||||
Equity to assets |
8.01 | % | 8.69 | % | 9.19 | % | 9.41 | % | 9.40 | % | ||||||||||
Tangible common equity to tangible assets |
7.99 | % | 8.67 | % | 9.17 | % | 9.38 | % | 9.37 | % |
UNITED COMMUNITY FINANCIAL CORP.
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
At or for the quarters ended | ||||||||||||||||||||
December 31, 2010 | September 30, 2010 | June 30, 2010 | March 31, 2010 | December 31, 2009 | ||||||||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||||||||
Loan Portfolio Composition |
||||||||||||||||||||
Real Estate Loans |
||||||||||||||||||||
One-to four-family residential |
$ | 757,426 | $ | 778,005 | $ | 779,565 | $ | 777,380 | $ | 773,831 | ||||||||||
Multi-family residential* |
135,771 | 136,681 | 138,875 | 143,992 | 150,480 | |||||||||||||||
Nonresidential* |
331,390 | 355,914 | 383,882 | 389,407 | 397,895 | |||||||||||||||
Land* |
25,138 | 25,413 | 26,217 | 25,122 | 23,502 | |||||||||||||||
Construction Loans |
||||||||||||||||||||
One-to four-family residential and land development |
108,583 | 117,297 | 133,534 | 161,625 | 178,095 | |||||||||||||||
Multi-family and nonresidential* |
15,077 | 14,537 | 14,870 | 14,682 | 13,741 | |||||||||||||||
Total real estate loans |
1,373,385 | 1,427,847 | 1,476,943 | 1,512,208 | 1,537,544 | |||||||||||||||
Consumer Loans |
279,453 | 289,296 | 295,007 | 301,457 | 309,202 | |||||||||||||||
Commercial Loans |
46,304 | 48,902 | 53,566 | 56,726 | 60,217 | |||||||||||||||
Total Loans |
1,699,142 | 1,766,045 | 1,825,516 | 1,870,391 | 1,906,963 | |||||||||||||||
Less: |
||||||||||||||||||||
Allowance for loan losses |
50,883 | 40,884 | 40,728 | 47,768 | 42,287 | |||||||||||||||
Deferred loan costs, net |
(1,227 | ) | (1,220 | ) | (1,250 | ) | (1,276 | ) | (1,342 | ) | ||||||||||
Total |
49,656 | 39,664 | 39,478 | 46,492 | 40,945 | |||||||||||||||
Loans, net |
$ | 1,649,486 | $ | 1,726,381 | $ | 1,786,038 | $ | 1,823,899 | $ | 1,866,018 | ||||||||||
* | Such categories are considered commercial real estate |
At or for the quarters ended | ||||||||||||||||||||
December 31, 2010 | September 30, 2010 | June 30, 2010 | March 31, 2010 | December 31, 2009 | ||||||||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||||||||
Deposit Portfolio Composition |
||||||||||||||||||||
Checking accounts |
||||||||||||||||||||
Interest bearing checking accounts |
$ | 110,092 | $ | 103,204 | $ | 104,905 | $ | 101,068 | $ | 108,513 | ||||||||||
Non-interest bearing checking accounts |
138,571 | 128,702 | 126,437 | 125,741 | 126,779 | |||||||||||||||
Total checking accounts |
248,663 | 231,906 | 231,342 | 226,809 | 235,292 | |||||||||||||||
Savings accounts |
218,946 | 214,197 | 212,778 | 210,091 | 202,900 | |||||||||||||||
Money market accounts |
311,692 | 310,884 | 310,506 | 300,610 | 291,320 | |||||||||||||||
Total non-time deposits |
779,301 | 756,987 | 754,626 | 737,510 | 729,512 | |||||||||||||||
Retail certificates of deposit |
910,480 | 928,046 | 939,568 | 988,747 | 1,024,961 | |||||||||||||||
Brokered certificates of deposit |
| | 2,337 | 2,335 | 15,028 | |||||||||||||||
Total certificates of deposit |
910,480 | 928,046 | 941,905 | 991,082 | 1,039,989 | |||||||||||||||
Total deposits |
$ | 1,689,781 | $ | 1,685,033 | $ | 1,696,531 | $ | 1,728,592 | $ | 1,769,501 | ||||||||||
Certificates of deposit as a percent of total deposits |
53.88 | % | 55.08 | % | 55.52 | % | 57.33 | % | 58.77 | % |
UNITED COMMUNITY FINANCIAL CORP.
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
At or for the quarters ended | ||||||||||||||||||||
December 31, 2010 | September 30, 2010 | June 30, 2010 | March 31, 2010 | December 31, 2009 | ||||||||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||||||||
Allowance For Loan Losses |
||||||||||||||||||||
Beginning balance |
$ | 40,884 | $ | 40,728 | $ | 47,768 | $ | 42,287 | $ | 38,845 | ||||||||||
Provision |
22,551 | 17,116 | 10,310 | 12,450 | 22,740 | |||||||||||||||
Net chargeoffs |
(12,552 | ) | (16,960 | ) | (17,350 | ) | (6,969 | ) | (19,298 | ) | ||||||||||
Ending balance |
$ | 50,883 | $ | 40,884 | $ | 40,728 | $ | 47,768 | $ | 42,287 | ||||||||||
Net Charge-offs |
||||||||||||||||||||
Real Estate Loans |
||||||||||||||||||||
One-to four-family |
$ | 1,483 | $ | 1,834 | $ | 2,318 | $ | 998 | $ | 762 | ||||||||||
Multi-family |
1,819 | 160 | 1,067 | 1,585 | 208 | |||||||||||||||
Nonresidential |
6,923 | 7,041 | 25 | 1,951 | 1,410 | |||||||||||||||
Land |
284 | 11 | | 318 | | |||||||||||||||
Construction Loans |
||||||||||||||||||||
One-to four-family residential and land development |
669 | 6,595 | 11,924 | 1,018 | 3,860 | |||||||||||||||
Multi-family and nonresidential |
(1 | ) | | 310 | | 118 | ||||||||||||||
Total real estate loans |
11,177 | 15,641 | 15,644 | 5,870 | 6,358 | |||||||||||||||
Consumer Loans |
639 | 905 | 1,330 | 904 | 1,312 | |||||||||||||||
Commercial Loans |
736 | 414 | 376 | 195 | 11,628 | |||||||||||||||
Total |
$ | 12,552 | $ | 16,960 | $ | 17,350 | $ | 6,969 | $ | 19,298 | ||||||||||
At or for the quarters ended | ||||||||||||||||||||
December 31, 2010 | September 30, 2010 | June 30, 2010 | March 31, 2010 | December 31, 2009 | ||||||||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||||||||
Nonperforming Loans |
||||||||||||||||||||
Real Estate Loans |
||||||||||||||||||||
One-to four family residential |
$ | 27,417 | $ | 27,505 | $ | 30,279 | $ | 30,054 | $ | 26,766 | ||||||||||
Multi-family residential |
10,983 | 12,443 | 8,816 | 7,885 | 7,863 | |||||||||||||||
Nonresidential |
39,838 | 44,561 | 48,653 | 36,083 | 24,091 | |||||||||||||||
Land |
5,188 | 5,943 | 5,943 | 11,627 | 5,160 | |||||||||||||||
Construction Loans |
||||||||||||||||||||
One-to four-family residential and land development |
44,021 | 40,000 | 49,146 | 42,963 | 42,819 | |||||||||||||||
Multi-family and nonresidential |
2,414 | 2,414 | 2,414 | 382 | 392 | |||||||||||||||
Total real estate loans |
129,861 | 132,866 | 145,251 | 128,994 | 107,091 | |||||||||||||||
Consumer Loans |
3,725 | 3,543 | 3,482 | 3,898 | 5,383 | |||||||||||||||
Commercial Loans |
5,945 | 6,304 | 6,407 | 5,672 | 3,413 | |||||||||||||||
Total Loans |
$ | 139,531 | $ | 142,713 | $ | 155,140 | $ | 138,564 | $ | 115,887 | ||||||||||
Total Nonperforming Loans and Nonperforming Assets |
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Past due 90 days and on nonaccrual status |
$ | 117,499 | $ | 126,062 | $ | 129,534 | $ | 131,951 | $ | 103,864 | ||||||||||
Past due 90 days and still accruing |
6,330 | 4,253 | 2,628 | 536 | 3,669 | |||||||||||||||
Past due 90 days |
123,829 | 130,315 | 132,162 | 132,487 | 107,533 | |||||||||||||||
Past due less than 90 days and on nonaccrual |
15,702 | 12,398 | 22,978 | 6,077 | 8,354 | |||||||||||||||
Total Nonperforming Loans |
139,531 | 142,713 | 155,140 | 138,564 | 115,887 | |||||||||||||||
Other Real Estate Owned |
39,914 | 39,963 | 41,470 | 34,605 | 30,340 | |||||||||||||||
Repossessed Assets |
422 | 334 | 576 | 813 | 622 | |||||||||||||||
Total Nonperforming Assets |
$ | 179,867 | $ | 183,010 | $ | 197,186 | $ | 173,982 | $ | 146,849 | ||||||||||
Total Troubled Debt Restructured Loans |
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Accruing |
$ | 11,240 | $ | 13,254 | $ | 18,214 | $ | 23,153 | $ | 17,640 | ||||||||||
Non-accruing |
33,331 | 14,934 | 10,855 | 8,764 | 5,008 | |||||||||||||||
Total |
$ | 44,571 | $ | 28,188 | $ | 29,069 | $ | 31,917 | $ | 22,648 | ||||||||||