UNITED COMMUNITY FINANCIAL CORP - FORM 8-K - EX-99

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8-K - FORM 8-K - UNITED COMMUNITY FINANCIAL CORP	d132864d8k.htm

EXHIBIT 99

LOGO

275 West Federal Street

Youngstown, Ohio 44503-1203

FOR IMMEDIATE RELEASE


Media Contact:		Investor Contact:
Colleen Scott		Gary M. Small
Vice President of Marketing		President and Chief Executive Officer
Home Savings		United Community Financial Corp.
(330) 742-0638		(330) 742-0472
cscott@homesavings.com

UCFC ANNOUNCES FIRST QUARTER RESULTS

AND DECLARES DIVIDEND

•

Net quarterly income of $3.3 million, or $0.07 per diluted share—ROA of 0.66%

•

Pre-tax, pre-provision income increased $1.8 million, or 34.7% in the first quarter of 2016, compared to the first quarter of 2015

•

Loans increased 16.0% in the first quarter of 2016, compared to the first quarter of 2015

•

Deposits increased 4.3% in the first quarter of 2016, compared to the first quarter of 2015 and 8.6% on an annualized basis, compared to December 31, 2015

•

Dividend of $0.025 per common share declared

•

James & Sons Insurance acquisition completed

YOUNGSTOWN, Ohio (April 19, 2016) – United Community Financial Corp. (Company) (Nasdaq: UCFC), parent company of The Home Savings and Loan Company (Home Savings), announced today that net income for the quarter ended March 31, 2016 totaled $3.3 million, or $0.069 per diluted common share compared to $3.7 million, or $0.074 per diluted common share for the quarter ended March 31, 2015.

Gary M. Small, President and Chief Executive Officer of the Company, commented, “The quarter reflects continued execution against our long-term strategy. We are seeing excellent opportunities, particularly in our commercial and residential mortgage business. We delivered strong loan growth, excellent revenue growth and focused expense management. For the quarter, we saw positive operating leverage with revenue up over 9% while expenses were down 1.7% compared to the first quarter of 2015.”

Balance Sheet Highlights

Total Loans

Total loans, including loans held for sale, increased $195.5 million, or 16.3% to $1.4 billion at March 31, 2016, compared to March 31, 2015, and 12.8% on an annualized basis during the quarter compared to December 31, 2015. Growth of the commercial loan portfolio was the primary driver. Commercial loan production of $73.8 million for the first quarter was approximately double the pace of the first quarter of 2015, while commercial loan balances grew just over 10% for the quarter and over 50% compared to the first quarter of 2015. Unfunded commercial loan commitments grew by 18.1% during the quarter to approximately $122.2 million at March 31, 2016.

Residential loans, including residential loans held for sale, grew at a measured pace, increasing $51.5 million at March 31, 2016 compared to the March 31, 2015. Pipeline levels remain strong; at the end of the first quarter, they were approximately 18% ahead of the same period last year.

Total Deposits

Total deposits increased $59.9 million, or 4.3% to $1.4 billion at March 31, 2016, compared to March 31, 2015, and 8.6% on an annualized basis during the quarter compared to December 31, 2015. The Company continues to see improvement in growing consumer and business deposits with the growth of public funds being a key driver in the first quarter of 2016. Noninterest bearing checking accounts grew $31.3 million, or 15.7% at March 31, 2016, compared to March 31, 2015.

First Quarter Results

Net Interest Income and Margin

Net interest income on a fully taxable equivalent basis was $15.0 million in the first quarter of 2016, up 7.8% from the $13.9 million recorded in the first quarter of 2015. The improvement in net interest income was due to the growth in average net loan balances totaling $179.5 million.

Net interest margin was 3.21% for the first quarter of 2016, an increase from 3.16% reported in the fourth quarter of 2015. This increase was due to realizing the benefit from the prepayment of high-cost debt in the fourth quarter. The Company continues to experience pressure on the yields of earning assets due to a prolonged period on low interest rates.

Provision for Loan Losses

The Company recognized a provision for loan losses expense of $2.2 million in the first quarter of 2016, compared to a recovery of $184,000 in the first quarter of 2015. The elevated provision in the quarter was necessary as a result of loan growth and a charge-off of a long-held commercial real estate loan.

Small continued, “While we did experience an increase in net charge-offs during the quarter, the quality of our portfolio continues to improve as the book is more diversified and the level of criticized assets continue to fall. The chargeoff was not inconsistent with expectations for the year. We see this as an isolated event as credit metrics continue to improve.”

Non-Interest Income

Non-interest income was $4.7 million in the first quarter of 2016 compared to $4.1 million in the first quarter of 2015. Deposit related fees are strong, increasing $261,000 in that time period. Additionally, the benefit of insurance related income from James & Sons Insurance is now being recognized. Partially offsetting these increases was a $274,000 higher valuation allowance recognized on mortgage servicing rights in the current quarter due to the decline of long-term interest rates in the first quarter of 2016.

Non-Interest Expense

Non-interest expense was $12.5 million for the first quarter of 2016, which represented a decrease of $217,000, or 1.7%, from the same quarter last year. Affecting the save was a one-time reduction in supervisory exam fees. The efficiency ratio continues to show improvement from 70.07% in the first quarter of 2015 to 63.90% in the first quarter of 2016.

Equity

Tangible book value per common share at March 31, 2016 improved to $5.27, as compared to $5.14 at December 31, 2015. Much of this improvement was due to changes in accumulated other comprehensive income as the drop in long-term interest rates resulted in a higher valuation of the Company’s securities portfolio. The Company continues its share repurchase program, repurchasing 431,000 shares during the quarter.

Dividend to be Paid

The Board of Directors declared a quarterly cash dividend of $0.025 per common share payable May 13, 2016 to shareholders of record at the close of business May 3, 2016.

Conference Call

United Community Financial Corp. will host an earnings conference call on Wednesday, April 20, 2016, at 10:00 a.m. ET., to provide an overview of the Company’s first quarter 2016 results and highlights. The conference call may be accessed by calling 1-877-272-7661 ten minutes prior to the start time. Please ask to be joined into the United Community Financial Corp. (UCFC) call. Additionally, a live webcast may be accessed from the Company’s website www.irucfconline.com. Click on 1st Quarter 2016 Conference Call on our corporate profile page to join the webcast.

United Community Financial Corp.

Home Savings is a wholly owned subsidiary of the Company and operates retail banking offices and loan production centers in Ohio, western Pennsylvania and West Virginia. Additional information on the Company, Home Savings and James & Sons Insurance may be found on the Company’s web site: www.irucfconline.com.

###

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”, “can expect” 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.

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.

UNITED COMMUNITY FINANCIAL CORP.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)


	March 31, 2016			December 31, 2015
	(Dollars in thousands)
Assets:
Cash and deposits with banks	$	22,191		$	20,528
Federal funds sold		18,379			15,382

Total cash and cash equivalents		40,570			35,910
Securities:
Available for sale, at fair value		365,369			357,670
Held to maturity (fair value of $108,702 and $109,664, respectively)		107,838			110,699
Loans held for sale, at lower of cost or market		3,391			9,085
Loans held for sale, at fair value		32,607			26,716
Loans, net of allowance for loan losses of $16,903 and $17,712		1,359,146			1,316,192
Federal Home Loan Bank stock, at cost		18,068			18,068
Premises and equipment, net		20,594			20,678
Accrued interest receivable		5,783			5,978
Real estate owned and other repossessed assets		1,846			2,727
Goodwill		1,620			—
Core deposit intangible		17			30
Cash surrender value of life insurance		54,731			54,366
Other assets		24,850			29,870

Total assets	$	2,036,430		$	1,987,989

Liabilities and Shareholders’ Equity
Liabilities:
Deposits:
Interest bearing	$	1,235,783		$	1,208,238
Non-interest bearing		230,831			227,505

Total deposits		1,466,614			1,435,743
Borrowed funds:
Federal Home Loan Bank advances
Long-term advances		47,170			46,975
Short-term advances		244,000			232,000

Total Federal Home Loan Bank advances		291,170			278,975
Repurchase agreements and other		529			535

Total borrowed funds		291,699			279,510
Advance payments by borrowers for taxes and insurance		16,247			21,174
Accrued interest payable		110			53
Accrued expenses and other liabilities		9,956			7,264

Total liabilities		1,784,626			1,743,744

Shareholders’ Equity:
Preferred stock-no par value; 1,000,000 shares authorized and no shares outstanding		—			—
Common stock-no par value; 499,000,000 shares authorized; 54,138,910 shares issued and 47,506,526 and 47,517,644 shares, respectively, outstanding		173,037			174,304
Retained earnings		142,616			140,819
Accumulated other comprehensive loss		(12,938	)		(19,220	)
Treasury stock, at cost, 6,632,384 and 6,621,266 shares, respectively		(50,911)			(51,658)
Total shareholders’ equity		251,804			244,245

Total liabilities and shareholders’ equity	$	2,036,430		$	1,987,989

UNITED COMMUNITY FINANCIAL CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)


	For the Three Months Ended
	March 31,			December 31,			March 31,
	2016			2015			2015
	(Dollars in thousands, except per share data)
Interest income
Loans	$	13,801		$	13,612		$	12,691
Loans held for sale		332			371			294
Securities:
Available for sale, nontaxable		123			35			—
Available for sale, taxable		1,935			2,002			2,861
Held to maturity, nontaxable		55			51			—
Held to maturity, taxable		577			573			—
Federal Home Loan Bank stock dividends		182			182			182
Other interest earning assets		15			10			6

Total interest income		17,020			16,836			16,034
Interest expense
Deposits		1,612			1,664			1,533
Federal Home Loan Bank advances		530			387			305
Repurchase agreements and other		5			295			316

Total interest expense		2,147			2,346			2,154

Net interest income		14,873			14,490			13,880
Taxable equivalent adjustment		95			45			—

Net interest income (FTE)⁽¹⁾		14,968			14,535			13,880
Provision (recovery) for loan losses		2,155			893			(184	)

Net interest income after provision for loan losses (FTE)		12,813			13,642			14,064

Non-interest income
Non-deposit investment income		300			316			292
Service fees and other charges:
Mortgage servicing fees		698			692			674
Deposit related fees		1,326			1,573			1,065
Mortgage servicing rights valuation		(435	)		111			(161	)
Mortgage servicing rights amortization		(468	)		(445	)		(443	)
Other service fees		18			19			17
Net gains (losses):
Securities available for sale		153			131			11
Mortgage banking income		1,382			1,538			1,553
Real estate owned and other repossessed assets charges, net		(13	)		(134	)		(90	)
Card fees		881			907			816
Other income		816			743			384

Total non-interest income		4,658			5,451			4,118

Non-interest expense
Salaries and employee benefits		7,088			5,756			7,176
Occupancy		862			744			918
Equipment and data processing		1,835			1,760			1,672
Financial institutions tax		442			317			326
Advertising		127			191			142
Amortization of core deposit intangible		13			13			14
Prepayment penalty		—			1,280			—
FDIC insurance premiums		326			295			326
Other insurance premiums		89			102			84
Professional fees:
Legal and consulting fees		197			338			217
Other professional fees		70			502			376
Real estate owned and other repossessed asset expenses		72			45			141
Other expenses		1,343			1,412			1,289

Total non-interest expenses		12,464			12,755			12,681

Income before income taxes		5,007			6,338			5,501
Taxable equivalent adjustment		95			45			—
Income tax expense (benefit)		1,592			1,965			1,815

Net income	$	3,320		$	4,328		$	3,686

Earnings per common share:
Basic	$	0.070		$	0.091		$	0.075
Diluted		0.069			0.090			0.074

⁽¹⁾	Net interest income is also presented on a fully taxable equivalent (FTE) basis, the Company believes this non-GAAP measure is the preferred industry measurement for this item.

UNITED COMMUNITY FINANCIAL CORP.

CONSOLIDATED AVERAGE BALANCES

(Unaudited)


	For the three months ended
	March 31, 2016							December 31, 2015							March 31, 2015
	Average		Interest					Average		Interest					Average		Interest
	outstanding		earned/		Yield/			outstanding		earned/		Yield/			outstanding		earned/		Yield/
	balance		paid		rate			balance		paid		rate			balance		paid		rate
	(Dollars in thousands)
Interest earning assets:
Net loans ⁽¹⁾	$	1,331,265	$	13,802		4.15	%	$	1,290,238	$	13,612		4.22	%	$	1,151,729	$	12,691		4.41	%
Loans held for sale		35,359		332		3.76	%		39,589		371		3.75	%		26,633		294		4.42	%
Securities:
Available for sale-taxable		337,226		1,935		2.30	%		355,438		2,002		2.25	%		498,777		2,861		2.29	%
Available for sale-nontaxable ⁽²⁾		18,134		189		4.17	%		5,199		53		4.08	%		—		—		—	%
Held to maturity-taxable		99,043		577		2.33	%		102,172		573		2.24	%		—		—		—	%
Held to maturity-nontaxable ⁽²⁾		10,375		83		3.20	%		9,401		77		3.28	%		—		—		—	%
Federal Home Loan Bank stock		18,068		182		4.03	%		18,068		182		4.03	%		18,068		182		4.03	%
Other interest earning assets		18,130		15		0.33	%		18,185		10		0.22	%		20,362		6		0.12	%

Total interest earning assets		1,867,600		17,115		3.67	%		1,838,290		16,880		3.67	%		1,715,569		16,034		3.74	%
Non-interest earning assets		133,988							134,366							132,105

Total assets	$	2,001,588						$	1,972,656						$	1,847,674

Interest bearing liabilities:
Deposits:
Checking accounts	$	481,350		266		0.22	%	$	474,213		262		0.22	%	$	469,224		230		0.20	%
Savings accounts		283,892		41		0.06	%		278,748		41		0.06	%		278,163		40		0.06	%
Certificates of deposit		447,459		1,305		1.17	%		456,102		1,361		1.19	%		431,690		1,263		1.17	%
Federal Home Loan Bank advances
Long-term advances		47,043		289		2.46	%		46,847		272		2.32	%		46,261		258		2.23	%
Short-term advances		236,747		241		0.41	%		192,674		114		0.24	%		121,978		47		0.15	%
Repurchase agreements and other		532		5		3.76	%		27,929		295		4.22	%		30,555		316		4.14	%

Total interest bearing liabilities	$	1,497,023		2,147		0.57	%	$	1,476,513		2,345		0.64	%	$	1,377,871		2,154		0.63	%

Non-interest bearing liabilities
Total noninterest bearing deposits		228,308							219,379							196,049
Other noninterest bearing liabilities		27,111							30,256							27,596

Total noninterest bearing liabilities		255,419							249,635							223,645

Total liabilities	$	1,752,442						$	1,726,148						$	1,601,516
Shareholders’ equity		249,146							246,508							246,158

Total liabilities and equity	$	2,001,588						$	1,972,656						$	1,847,674

Net interest income and interest rate spread			$	14,968		3.09	%			$	14,535		3.04	%			$	13,880		3.11	%

Net interest margin						3.21	%						3.16	%						3.24	%
Average interest earning assets to average interest bearing liabilities						124.75	%						124.50	%						124.51	%

⁽¹⁾	Nonaccrual loans are included in the average balance at a yield of 0%.

⁽²⁾	Yields are on a fully taxable equivalent basis.

UNITED COMMUNITY FINANCIAL CORP.

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)


	At or for the quarters ended
	March 31, 2016			December 31, 2015			September 30, 2015			June 30, 2015			March 31, 2015
	(Dollars in thousands, except per share data)
Financial Data
Total assets	$	2,036,430		$	1,987,989		$	1,970,887		$	1,922,789		$	1,860,620
Total loans, net		1,359,146			1,316,192			1,277,330			1,224,468			1,168,434
Total securities		473,207			468,369			479,817			477,747			492,412
Total deposits		1,466,614			1,435,743			1,410,484			1,439,247			1,406,744
Average interest-bearing deposits		1,212,701			1,209,063			1,219,735			1,218,467			1,179,077
Average noninterest-bearing deposits		228,308			219,379			211,923			209,174			196,049
Total shareholders’ equity		251,804			244,245			243,929			236,462			247,104
Net interest income		14,873			14,490			14,301			13,851			13,880
Net interest income (FTE)⁽¹⁾		14,968			14,535			14,320			13,857			13,880
Provision (recovery) for loan losses		2,155			893			673			753			(184	)
Noninterest income		4,658			5,451			4,873			5,275			4,118
Noninterest expense		12,464			12,755			12,285			12,208			12,681
Income tax expense (benefit)		1,592			1,965			2,073			2,040			1,815
Net income		3,320			4,328			4,143			4,125			3,686

Share Data
Basic earnings per common share	$	0.070		$	0.091		$	0.087		$	0.085		$	0.075
Diluted earnings per common share		0.069			0.090			0.086			0.084			0.074
Book value per common share		5.30			5.14			5.12			4.95			5.01
Tangible book value per common share		5.27			5.14			5.12			4.95			5.01
Market value per common share		5.87			5.90			5.00			5.35			5.46
Common shares outstanding at end of period		47,507			47,518			47,614			47,763			49,309
Weighted average shares outstanding—basic		47,272			47,356			47,480			48,359			49,022
Weighted average shares outstanding—diluted		47,551			47,636			47,744			48,634			49,295

Key Ratios
Return on average assets ⁽²⁾		0.66	%		0.88	%		0.85	%		0.88	%		0.80	%
Return on average equity ⁽³⁾		5.33	%		7.02	%		6.87	%		6.73	%		5.99	%
Net interest margin		3.21	%		3.16	%		3.18	%		3.16	%		3.24	%
Efficiency ratio⁽⁴⁾		63.90	%		63.74	%		63.54	%		63.40	%		70.07	%
Nonperforming loans to net loans, end of period		1.48	%		1.27	%		1.20	%		1.55	%		1.72	%
Nonperforming assets to total assets, end of period		1.08	%		0.98	%		0.95	%		1.16	%		1.25	%
Allowance for loan loss as a percent of loans, end of period		1.23	%		1.33	%		1.35	%		1.36	%		1.45	%
Delinquent loans to total net loans, end of period		1.52	%		1.72	%		1.65	%		1.45	%		1.66	%

⁽¹⁾	Net interest income is presented on a fully taxable equivalent (FTE) basis, the Company believes this non-GAAP measure is the preferred industry measurement for this item

⁽²⁾	Net income divided by average total assets

⁽³⁾	Net income divided by average total equity

⁽⁴⁾	Excludes penalty on the prepayment of repurchase agreements

UNITED COMMUNITY FINANCIAL CORP.

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)


	At or for the quarters ended
	March 31, 2016			December 31, 2015			September 30, 2015			June 30, 2015			March 31, 2015
	(Dollars in thousands)
Loan Portfolio Composition
Commercial loans
Multi-family	$	80,581		$	80,170		$	74,042		$	69,485		$	63,597
Owner/nonowner occupied commercial real estate		184,279			175,456			167,366			148,025			132,305
Land		8,938			9,301			9,709			10,231			9,437
Construction		49,858			38,812			26,545			16,265			11,030
Commercial and industrial		83,256			66,013			65,004			69,269			54,036

Total		406,912			369,752			342,666			313,275			270,405
Residential mortgage loans
Real estate		741,401			733,685			723,619			709,342			696,387
Construction		38,994			40,898			40,723			34,074			37,293

Total		780,395			774,583			764,342			743,416			733,680
Consumer loans
Consumer		187,323			188,258			186,661			183,696			180,735

Total		187,323			188,258			186,661			183,696			180,735

Total loans		1,374,630			1,332,593			1,293,669			1,240,387			1,184,820
Less:
Allowance for loan losses		16,903			17,712			17,482			16,881			17,221
Deferred loan costs, net		(1,419	)		(1,311	)		(1,143	)		(962	)		(835	)

Total		15,484			16,401			16,339			15,919			16,386

Total loans, net		1,359,146			1,316,192			1,277,330			1,224,468			1,168,434
Loans held for sale, net		35,998			35,801			38,274			35,102			31,243

Total loans	$	1,395,144		$	1,351,993		$	1,315,604		$	1,259,570		$	1,199,677


	At or for the quarters ended
	March 31, 2016			December 31, 2015			September 30, 2015			June 30, 2015			March 31, 2015
	(Dollars in thousands)
Deposit Portfolio Composition
Checking accounts
Interest bearing checking accounts	$	194,586		$	160,264		$	168,025		$	179,969		$	184,029
Non-interest bearing checking accounts		230,831			227,505			208,598			206,228			199,512

Total checking accounts		425,417			387,769			376,623			386,197			383,541
Savings accounts		288,324			280,889			277,313			282,737			282,643
Money market accounts		312,577			312,125			309,004			313,602			310,983

Total non-time deposits		1,026,318			980,783			962,940			982,536			977,167
Retail certificates of deposit		440,296			454,960			447,544			456,711			429,577

Total certificates of deposit		440,296			454,960			447,544			456,711			429,577

Total deposits	$	1,466,614		$	1,435,743		$	1,410,484		$	1,439,247		$	1,406,744

Certificates of deposit as a percent of total deposits		30.02	%		31.69	%		31.73	%		31.73	%		30.54	%

UNITED COMMUNITY FINANCIAL CORP.

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)


	At or for the quarters ended
	March 31, 2016			December 31, 2015			September 30, 2015			June 30, 2015			March 31, 2015
	(Dollars in thousands)
Allowance For Loan Losses
Beginning balance	$	17,712		$	17,482		$	16,881		$	17,221		$	17,687
Provision (recovery)		2,155			893			673			753			(184	)
Net chargeoffs		(2,964	)		(663	)		(72	)		(1,093	)		(282	)

Ending balance	$	16,903		$	17,712		$	17,482		$	16,881		$	17,221


	At or for the quarters ended
	March 31, 2016			December 31, 2015			September 30, 2015			June 30, 2015			March 31, 2015
	(Dollars in thousands)
Net (Charge-offs) Recoveries
Commercial loans
Multi-family	$	7		$	7		$	9		$	(64	)	$	13
Owner/nonowner occupied commercial real estate		(2,213	)		(67	)		(109	)		(31	)		9
Land		—			(100	)		(12	)		—			—
Construction		—			21			(88	)		(603	)		—
Commercial and industrial		(74	)		141			137			127			75

Total		(2,280	)		2			(63	)		(571	)		97
Residential mortgage loans
Real estate		(300	)		(611	)		(17	)		(306	)		20
Construction		—			—			—			—			—

Total		(300	)		(611	)		(17	)		(306	)		20
Consumer loans
Consumer		(384	)		(54	)		8			(216	)		(399	)

Total		(384	)		(54	)		8			(216	)		(399	)

Total net chargeoffs	$	(2,964	)	$	(663	)	$	(72	)	$	(1,093	)	$	(282	)


	At or for the quarters ended
	March 31, 2016			December 31, 2015			September 30, 2015			June 30, 2015			March 31, 2015
	(Dollars in thousands)
Nonperforming Loans
Commercial loans
Multi-family	$	—		$	—		$	—		$	85		$	85
Owner/nonowner occupied commercial real estate		7,557			3,599			3,694			5,637			5,700
Land		384			384			484			496			531
Construction		—			—			415			415			1,051
Commercial and industrial		4,652			4,016			4,016			4,016			4,016

Total		12,593			7,999			8,609			10,649			11,383
Residential mortgage loans
Real estate		5,312			6,181			4,845			6,475			6,652
Construction		—			—			—			—			—

Total		5,312			6,181			4,845			6,475			6,652
Consumer loans
Consumer		2,200			2,567			1,887			1,887			2,061

Total		2,200			2,567			1,887			1,887			2,061

Total nonperforming loans	$	20,105		$	16,747		$	15,341		$	19,011		$	20,096

Total Nonperforming Loans and Nonperforming Assets
Past due 90 days and on nonaccrual status	$	15,663		$	16,279		$	14,891		$	14,246		$	15,357
Past due 90 days and still accruing		—			—			—			—			—

Past due 90 days		15,663			16,279			14,891			14,246			15,357
Past due less than 90 days and on nonaccrual		4,442			468			450			4,765			4,739

Total nonperforming loans		20,105			16,747			15,341			19,011			20,096
Other real estate owned		1,832			2,651			3,262			3,127			2,908
Repossessed assets		14			76			54			234			211

Total nonperforming assets	$	21,951		$	19,474		$	18,657		$	22,372		$	23,215

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UNITED COMMUNITY FINANCIAL CORP Reports