Attached files

file filename
8-K - FORM 8-K - UNITED COMMUNITY FINANCIAL CORPd537443d8k.htm

Exhibit 99

 

LOGO

275 West Federal Street

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

First Quarter Net Income of $2.7 million

YOUNGSTOWN, Ohio (May 10, 2013) – United Community Financial Corp. (Company) (Nasdaq: UCFC), holding company of The Home Savings and Loan Company of Youngstown, Ohio (Home Savings), today reported consolidated net income of $2.7 million for the three months ended March 31, 2013.

Selected first quarter results:

 

   

Delinquent loans were $46.7 million at March 31, 2013, down 3.2% for the year to date

 

   

Nonperforming assets were $60.5 million at March 31, 2013, down 8.7% for the year to date

 

   

Classified loans were $57.6 million at March 31, 2013, down 3.8% for the year to date

 

   

Home Savings’ Tier 1 leverage ratio was 9.84% and the total risk based capital ratio was 18.28%

Patrick W. Bevack, President and Chief Executive Officer of United Community and Home Savings, commented that, “Net income for the quarter, along with improvement in asset quality and the successful completion of the private equity offering continues to move our Company forward. These positive steps provide United Community and Home Savings with the capital to grow our Company, raise our capital levels to levels that are commensurate with our risk profile and continue to execute our business plan.”

 

1


Asset Quality

Delinquent loans continued to decline through the first quarter of 2013. As of March 31, 2013, delinquent loans were $46.7 million, down $1.5 million, or 3.2%, from December 31, 2012. Nonperforming loans also continued to decline. Nonperforming loans as of March 31, 2013 were down $3.1 million, or 6.4%, from $47.8 million at December 31, 2012. Nonperforming assets were $60.5 million as of March 31, 2013, down $5.7 million, or 8.7%, from $66.2 million at December 31, 2012.

The provision for loan losses increased to $2.1 million in the first quarter of 2013, compared to $680,000 in the first quarter of 2012. This $1.4 million increase in the provision for loan losses is primarily a result of chargeoffs of $560,000 associated with one commercial lending relationship and a $382,000 specific reserve established on another commercial relationship due to events surrounding these credits that occurred in the first quarter of 2013.

Net Interest Income and Margin

Net interest income for the three months ended March 31, 2013 and December 31, 2012, was $12.9 million and $14.0 million, respectively. Total interest income decreased $1.4 million in the first quarter of 2013 compared to the prior quarter, primarily because of a decrease of $36.7 million in the average balance of outstanding loans. United Community also experienced a decrease in the yield on net loans of 29 basis points.

Total interest expense decreased $267,000 for the quarter ended March 31, 2013, as compared to the prior quarter. The change was due primarily to reductions of $235,000 in interest paid on deposits. The overall decrease in interest expense was attributable to a shift in deposit balances from certificates of deposit to relatively less expensive non-time deposits. Between December 31, 2012, and March 31, 2013, the average outstanding balance of certificates of deposit declined by $30.2 million, while non-time deposits increased by $9.4 million. Also contributing to the decrease was a reduction of six basis points in the cost of certificates of deposit, as well as a decrease of three basis points in the cost of non-time deposits.

Noninterest Income

Noninterest income decreased in the first quarter of 2013 to $5.7 million, as compared to noninterest income for the prior quarter of $6.9 million. Decreased noninterest income was a result of lower service fees and other charges, lower gains recognized on the sale of securities available for sale and decreased mortgage banking income recognized in the first quarter of 2013 as compared to the previous quarter.

The overall change in service fees and other charges was a result of a higher valuation adjustment recognized on deferred mortgage servicing rights in the last quarter of 2012 as compared to the first quarter of 2013. A lower gain recognized on the sale of available for sale securities was the result of fewer sales during the current quarter as compared to the prior quarter. The decline in mortgage banking income is attributable to a lower volume of sales in the first quarter of 2013 as compared to the prior quarter, as Home Savings retained a more significant portion of 15-year mortgage originations in its loan portfolio rather than selling such loans in the secondary market.

Noninterest Expense

Noninterest expense was $13.9 million in the first quarter of 2013, compared to $14.3 million in the prior quarter. In the first quarter of 2013, deposit insurance premiums were lower due to the bank being able to avail itself of more favorable insurance rates and a lower average asset base used in the calculation of insurance premiums. Professional fees were $796,000 lower during the quarter ended March 31, 2013 as compared to the quarter ended December 31, 2012. The improvement in asset quality has reduced the need to engage legal and other consultants to assist in the resolution of problem assets. Other expenses were $635,000 higher in the first quarter of 2013 as compared to the last quarter in 2012. This variance is the result of higher expenses accrued in the first quarter for loans expected to be repurchased from Fannie Mae and Freddie Mac.

 

2


Capital and Book Value per Common Share

Home Savings’ Tier 1 leverage ratio was 9.84% as of March 31, 2013, as compared to 8.70% as of December 31, 2012. Home Savings’ total risk-based capital ratio was 18.28% at March 31, 2013, as compared to 16.21% at December 31, 2012. Tangible book value per common share at March 31, 2013 was $4.81, as compared to $5.16 at December 31, 2012.

The Consent Order issued by the FDIC and the Ohio Division of Financial Institutions in 2012 required Home Savings to maintain a Tier 1 Leverage Capital Ratio at a minimum of 9.0% and a total risk-based capital ratio of no less than 12.0%. The FDIC and the Ohio Division terminated the Consent Order on January 31, 2013. Home Savings is now considered well capitalized and is no longer considered a troubled institution. The Memorandum of Understanding (MOU) entered into on January 31, 2013, now requires Home Savings to maintain these ratios at 8.5% and 12.0%, respectively. As of March 31, 2013, Home Savings was in compliance with the MOU.

On January 11, 2013, United Community entered into securities purchase agreements with 28 accredited investors, pursuant to which the Investors agreed to invest an aggregate of approximately $39.9 million in United Community for 6,574,272 newly issued common shares of United Community at a purchase price of $2.75 per share, and 7,942 newly created and issued perpetual mandatorily convertible non-cumulative preferred shares of United Community at a purchase price of $2,750 per share. On March 22, 2013, UCFC received $39.9 million from the completion of this portion of the capital raise. On March 26, 2013, United Community invested $16.0 million from those proceeds into Home Savings.

Home Savings is a wholly-owned subsidiary of the Company and operates 33 full-service banking offices and nine loan production offices located throughout Ohio and western Pennsylvania. Additional information on the Company and Home Savings may be found on the Company’s web site: www.ucfconline.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offer of securities shall be made except by means of a prospectus satisfying the requirements of Section 10 of the Securities Act of 1933, as amended (the “Act”). The securities offered in the private offerings have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

###

When used in this press release, the words or phrases “believes,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project”, “will have” 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 Company’s market area, changes in policies by regulatory agencies, fluctuations in interest rates, demand for loans in the Company’s 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 Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

 

3


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

 

4


UNITED COMMUNITY FINANCIAL CORP.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)

 

     March 31,
2013
    December 31,
2012
 
     (Dollars in thousands)  

Assets:

    

Cash and deposits with banks

   $ 20,739      $ 26,041   

Federal funds sold

     57,345        16,572   
  

 

 

   

 

 

 

Total cash and cash equivalents

     78,084        42,613   

Securities:

    

Available for sale, at fair value

     602,107        574,562   

Loans held for sale

     9,268        13,031   

Loans, net of allowance for loan losses of $21,827 and $21,130

     1,034,415        1,066,240   

Federal Home Loan Bank stock, at cost

     26,464        26,464   

Premises and equipment, net

     21,400        21,549   

Accrued interest receivable

     5,587        6,238   

Real estate owned and other repossessed assets

     15,782        18,440   

Core deposit intangible

     215        238   

Cash surrender value of life insurance

     29,106        28,881   

Other assets

     9,348        10,109   
  

 

 

   

 

 

 

Total assets

   $ 1,831,776      $ 1,808,365   
  

 

 

   

 

 

 

Liabilities and Shareholders’ Equity

    

Liabilities:

    

Deposits:

    

Interest bearing

   $ 1,291,170      $ 1,302,307   

Non-interest bearing

     169,790        159,767   
  

 

 

   

 

 

 

Total deposits

     1,460,960        1,462,074   

Borrowed funds:

    

Federal Home Loan Bank advances

     50,000        50,000   

Repurchase agreements and other

     90,593        90,598   
  

 

 

   

 

 

 

Total borrowed funds

     140,593        140,598   

Advance payments by borrowers for taxes and insurance

     14,258        23,590   

Accrued interest payable

     597        563   

Accrued expenses and other liabilities

     8,857        10,780   
  

 

 

   

 

 

 

Total liabilities

     1,625,265        1,637,605   
  

 

 

   

 

 

 

Shareholders’ Equity:

    

Preferred stock-no par value; 1,000,000 shares authorized and 7,942 and 0 shares, respectively issued and outstanding, $21,841 and $0 liquidation value, respectively

     15,911        —     

Common stock-no par value; 499,000,000 shares authorized; 44,378,729 and 37,804,457 shares, respectively, issued and 39,606,586 and 33,027,886 shares, respectively, outstanding

     148,937        128,026   

Retained earnings

     88,191        86,345   

Accumulated other comprehensive income

     3,719        6,682   

Treasury stock, at cost, 4,772,143 and 4,776,571 shares, respectively

     (50,247     (50,293
  

 

 

   

 

 

 

Total shareholders’ equity

     206,511        170,760   
  

 

 

   

 

 

 

Total liabilities and shareholders’ equity

   $ 1,831,776      $ 1,808,365   
  

 

 

   

 

 

 


UNITED COMMUNITY FINANCIAL CORP.

CONSOLIDATED STATEMENTS OF NET INCOME

(Unaudited)

 

     For the Three Months Ended  
     March 31,
2013
    December 31,
2012
    March 31,
2012
 
     (Dollars in thousands, except per share data)  

Interest income

      

Loans

   $ 12,627      $ 13,862      $ 17,656   

Loans held for sale

     89        119        100   

Securities:

      

Available for sale

     3,428        3,488        3,494   

Federal Home Loan Bank stock dividends

     283        316        300   

Other interest earning assets

     9        12        12   
  

 

 

   

 

 

   

 

 

 

Total interest income

     16,436        17,797        21,562   

Interest expense

      

Deposits

     2,087        2,322        4,032   

Federal Home Loan Bank advances

     523        535        732   

Repurchase agreements and other

     909        929        919   
  

 

 

   

 

 

   

 

 

 

Total interest expense

     3,519        3,786        5,683   
  

 

 

   

 

 

   

 

 

 

Net interest income

     12,917        14,011        15,879   

Provision for loan losses

     2,064        2,102        680   
  

 

 

   

 

 

   

 

 

 

Net interest income after provision for loan losses

     10,853        11,909        15,199   
  

 

 

   

 

 

   

 

 

 

Non-interest income

      

Non-deposit investment income

     541        373        541   

Service fees and other charges

     1,782        2,794        2,317   

Net gains (losses):

      

Securities available for sale (includes $721, $1,164 and $414, respectively, accumulated other comprehensive income reclassifications for unrealized net gains on available for sale securities)

     721        1,164        414   

Other -than-temporary loss on equity securities

      

Total impairment loss

     —          (13     —     

Loss recognized in other comprehensive income

     —          —          —     
  

 

 

   

 

 

   

 

 

 

Net impairment loss recognized in earnings

     —          (13     —     

Mortgage banking income

     1,643        2,083        1,471   

Real estate owned and other repossessed assets

     (431     (744     (729

Other income

     1,437        1,282        1,077   
  

 

 

   

 

 

   

 

 

 

Total non-interest income

     5,693        6,939        5,091   
  

 

 

   

 

 

   

 

 

 

Non-interest expense

      

Salaries and employee benefits

     7,451        7,253        8,333   

Occupancy

     822        849        799   

Equipment and data processing

     1,760        1,821        1,689   

Franchise tax

     431        445        438   

Advertising

     139        292        141   

Amortization of core deposit intangible

     23        25        29   

Deposit insurance premiums

     554        1,026        1,109   

Professional fees

     408        1,204        880   

Real estate owned and other repossessed asset expenses

     493        239        702   

Other expenses

     1,783        1,148        2,374   
  

 

 

   

 

 

   

 

 

 

Total non-interest expenses

     13,864        14,302        16,494   
  

 

 

   

 

 

   

 

 

 

Income before income taxes

     2,682        4,546        3,796   

Income tax expense (includes $0 income tax expense from reclassification items, respectively)

     —          1,950        —     
  

 

 

   

 

 

   

 

 

 

Net income

     2,682        2,596        3,796   

Amortization of discount on preferred stock

     821        —          —     
  

 

 

   

 

 

   

 

 

 

Earnings available to common shareholders

   $ 1,861      $ 2,596      $ 3,796   
  

 

 

   

 

 

   

 

 

 

Earnings per common share

      

Basic

   $ 0.06      $ 0.08      $ 0.12   

Diluted

     0.05        0.08        0.12   


UNITED COMMUNITY FINANCIAL CORP.

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

 

     At or for the quarters ended  
     March 31,
2013
    December 31,
2012
    September
30, 2012
    June 30,
2012
    March 31,
2012
 
     (In thousands, except per share data)  

Financial Data

          

Total assets

   $ 1,831,776      $ 1,808,365      $ 1,830,944      $ 1,906,995      $ 2,041,964   

Total loans, net

     1,034,415        1,066,240        1,100,328        1,249,595        1,325,101   

Total securities

     602,107        574,562        551,795        431,040        530,283   

Total deposits

     1,460,960        1,462,074        1,490,642        1,541,699        1,571,859   

Total shareholders’ equity

     206,511        170,760        171,580        195,631        190,014   

Net interest income

     12,917        14,011        14,128        16,420        15,879   

Provision for loan losses

     2,064        2,102        30,279        6,264        680   

Noninterest income, excluding other-than-temporary impairment losses

     5,693        6,952        3,752        6,949        5,091   

Net impairment losses recognized in earnings

     —          13        —          —          —     

Noninterest expense

     13,864        14,302        17,330        17,043        16,494   

Income tax expense (benefit)

     —          1,950        (2,838     —          —     

Net income (loss)

     2,682        2,596        (26,891     62        3,796   

Share Data

          

Basic earnings (loss) per common share

   $ 0.06      $ 0.08      $ (0.82   $ —         $ 0.12   

Diluted earnings (loss) per common share

     0.05        0.08        (0.82     —           0.12   

Book value per common share

     4.81        5.17        5.22        5.95        5.78   

Tangible book value per common share

     4.81        5.16        5.21        5.94        5.77   

Market value per common share

     3.88        2.89        3.49        2.98        2.44   

Common shares outstanding at end of period

     39,607        33,028        32,891        32,885        32,876   

Weighted average shares outstanding—basic

     33,565        32,880        32,751        32,802        32,693   

Weighted average shares outstanding—diluted

     33,829        33,153        32,751        32,843        23,697   

Key Ratios

          

Return on average assets

     0.59     0.57     -5.67     0.01     0.74

Return on average equity

     6.14     6.06     -53.53     0.12     7.89

Net interest margin

     3.01     3.23     3.17     3.55     3.30

Efficiency ratio

     75.55     69.50     93.62     78.50     77.35

Capital Ratios

          

Tier 1 leverage ratio

     9.84     8.70     8.27     9.32     8.96

Tier 1 risk-based capital ratio

     17.02     14.95     14.59     15.16     13.94

Total risk-based capital ratio

     18.28     16.21     15.85     16.43     15.21

Equity to assets

     11.27     9.44     9.37     10.26     9.31

Tangible common equity to tangible assets

     10.07     9.43     9.36     10.24     9.29


UNITED COMMUNITY FINANCIAL CORP.

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

 

     At or for the quarters ended  
     March 31,
2013
    December 31,
2012
    September 30,
2012
    June 30,
2012
    March 31,
2012
 
     (Dollars in thousands)  

Loan Portfolio Composition

          

Real Estate Loans

          

One-to four-family residential

   $ 570,377      $ 577,249      $ 587,220      $ 635,756      $ 649,000   

Multi-family residential*

     69,857        80,923        82,518        98,545        114,493   

Nonresidential*

     132,662        138,188        150,693        229,303        263,891   

Land*

     15,216        15,808        16,363        19,113        19,735   

Construction Loans

          

One-to four-family residential and land development

     32,866        28,318        32,483        42,077        49,311   

Multi-family and nonresidential*

     4,584        4,534        4,480        4,528        4,527   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total real estate loans

     825,562        845,020        873,757        1,029,322        1,100,957   

Consumer Loans

     206,496        214,593        222,995        225,067        231,008   

Commercial Loans

     23,077        26,543        22,183        24,799        26,434   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Loans

     1,055,135        1,086,156        1,118,935        1,279,188        1,358,399   

Less:

          

Allowance for loan losses

     21,827        21,130        20,048        30,933        34,523   

Deferred loan costs, net

     (1,107     (1,214     (1,441     (1,340     (1,225
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

     20,720        19,916        18,607        29,593        33,298   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loans, net

   $ 1,034,415      $ 1,066,240      $ 1,100,328      $ 1,249,595      $ 1,325,101   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

* Categories are considered commercial real estate

 

     At or for the quarters ended  
     March 31,
2013
    December 31,
2012
    September 30,
2012
    June 30,
2012
    March 31,
2012
 
     (Dollars in thousands)  

Deposit Portfolio Composition

          

Checking accounts

          

Interest bearing checking accounts

   $ 136,952      $ 132,947      $ 128,794      $ 126,502      $ 129,795   

Non-interest bearing checking accounts

     169,790        159,767        159,361        162,152        164,155   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total checking accounts

     306,742        292,714        288,155        288,654        293,950   

Savings accounts

     274,419        264,411        259,578        259,593        256,628   

Money market accounts

     341,804        345,651        345,428        344,750        339,824   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total non-time deposits

     922,965        902,776        893,161        892,997        890,402   

Retail certificates of deposit

     537,995        559,298        597,481        648,632        681,457   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total certificates of deposit

     537,995        559,298        597,481        648,632        681,457   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total deposits

   $ 1,460,960      $ 1,462,074      $ 1,490,642      $ 1,541,629      $ 1,571,859   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Certificates of deposit as a percent of total deposits

     36.82     38.25     40.08     42.07     43.35


UNITED COMMUNITY FINANCIAL CORP.

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

 

     At or for the quarters ended  
     March 31,
2013
    December 31,
2012
    September 30,
2012
    June 30,
2012
    March 31,
2012
 
     (Dollars in thousands)  

Allowance For Loan Losses

          

Beginning balance

   $ 21,130      $ 20,048      $ 30,933      $ 34,523      $ 42,271   

Provision

     2,064        2,102        30,279        6,264        680   

Net chargeoffs

     (1,367     (1,020     (41,164     (9,854     (8,428
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ending balance

   $ 21,827      $ 21,130      $ 20,048      $ 30,933      $ 34,523   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Charge-offs

          

Real Estate Loans

          

One-to four-family

   $ 637      $ 317      $ 15,010      $ 962      $ 762   

Multi-family

     41        (1     5,632        588        68   

Nonresidential

     459        224        15,340        7,057        2,579   

Land

     (196     (155     1,561        44        1,776   

Construction Loans

          

One-to four-family residential and land development

     (75     259        2,658        516        2,098   

Multi-family and nonresidential

     18        (16     (120     4        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total real estate loans

     884        628        40,081        9,171        7,283   

Consumer Loans

     443        397        1,536        160        745   

Commercial Loans

     40        (5     (453     523        400   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 1,367      $ 1,020      $ 41,164      $ 9,854      $ 8,428   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     At or for the quarters ended  
     March 31,
2013
    December 31,
2012
    September 30,
2012
    June 30,
2012
    March 31,
2012
 
     (Dollars in thousands)  

Nonperforming Loans

          

Real Estate Loans

          

One-to four family residential

   $ 5,978      $ 5,437      $ 5,817      $ 26,705      $ 23,721   

Multi-family residential

     1,727        2,027        1,512        9,582        5,411   

Nonresidential

     21,021        20,743        17,484        43,103        41,871   

Land

     5,957        6,047        6,228        8,316        8,472   

Construction Loans

          

One-to four-family residential and land development

     4,931        7,466        9,527        18,335        22,455   

Multi-family and nonresidential

     —          —          —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total real estate loans

     39,614        41,720        40,568        106,041        101,930   

Consumer Loans

     3,608        4,842        4,921        6,702        6,165   

Commercial Loans

     1,492        1,225        1,068        1,786        1,813   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Loans

   $ 44,714      $ 47,787      $ 46,557      $ 114,529      $ 109,908   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Nonperforming Loans and Nonperforming Assets

          

Past due 90 days and on nonaccrual status

   $ 36,515      $ 38,378      $ 41,335      $ 97,357      $ 91,153   

Past due 90 days and still accruing

     3,594        3,678        47        47        303   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Past due 90 days

     40,109        42,056        41,382        97,404        91,456   

Past due less than 90 days and on nonaccrual

     4,605        5,731        5,175        17,125        18,452   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Nonperforming Loans

     44,714        47,787        46,557        114,529        109,908   

Other Real Estate Owned

     15,349        18,075        19,732        24,325        28,517   

Repossessed Assets

     433        365        474        453        540   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Nonperforming Assets

   $ 60,496      $ 66,227      $ 66,763      $ 139,307      $ 138,965   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Troubled Debt Restructured Loans

          

Accruing

   $ 23,812      $ 21,006      $ 17,002      $ 18,530      $ 35,657   

Non-accruing

     3,616        4,430        4,531        14,250        15,161   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 27,428      $ 25,436      $ 21,533      $ 32,780      $ 50,818