Exhibit 99.1
FOR IMMEDIATE RELEASE
July 27, 2009
FOR FURTHER INFORMATION
CONTACT DAVID A. BOCHNOWSKI
(219) 853-7575
NORTHWEST INDIANA BANCORP
REPORTS SECOND QUARTER EARNINGS
Munster, Indiana — NorthWest Indiana Bancorp, the holding company for Peoples Bank, reported
earnings of $1.1 million for the quarter ended June 30, 2009 and $2.8 million in earnings for the
six months ended June 30, 2009.
The June 30, 2009 quarterly earnings of $1.1 million, or $0.37 in earnings per basic and
diluted share, compares to earnings of $1.5 million, or $0.51 in earnings per basic and diluted
share for the second quarter of 2008. For the current quarter, the return on average assets (ROA)
was 0.63% and return on average equity (ROE) was 7.61%.
The June 30, 2009 six month earnings of $2.8 million, or $0.98 in earnings per basic and
diluted share, compares to earnings of $3.1 million, or $1.10 in earnings per basic and $1.09 in
earnings per diluted share for the six months ended June 30, 2008. For the current six month
period, the return on average assets (ROA) was 0.82% and return on average equity (ROE) was 10.16%.
At June 30, 2009, the Bancorp’s assets totaled $664.0 million, a decrease of $776 thousand or 0.1%
for the six month period.
“Our strategy in the current business cycle has been to maintain core earnings and a strong
capital position while actively managing the stress the economic downturn has exerted on asset
quality. As a result of our actions, core earnings are up and Peoples Bank remains well
capitalized by regulatory standards,” said David A. Bochnowski, Chairman and Chief Executive
Officer.
According to Bochnowski, the decrease in the Bank’s overall earnings is directly tied to an
unprecedented $710,000 increase in FDIC deposit insurance premiums. “Fortunately America’s banking
system is strong enough to preserve the deposit insurance system, but we are doing so at a steep
cost. We did not expect that our FDIC insurance premium would rise 2366.7% over the same period a
year earlier,” said Bochnowski.
Net interest income, the difference between interest income from loans and investments and
interest expense paid to fund providers, totaled $5.7 million for the current quarter, compared to
$5.6 million for the quarter ended June 30, 2008, an increase of $108 thousand or 1.9%. For the
six months ended June 30, 2009, net interest income totaled $11.5 million, compared to $10.6
million for the six months ended June 30, 2008, an increase of $936 thousand, or 8.8%. As a result
of the increase in net interest income, the Bancorp’s net interest margin on a tax adjusted basis
was 3.86% and 3.89% for
the three and six months ended June 30, 2009, respectively. The increase
in net interest income continues to be positively impacted by an increase in commercial related
loan balances, and a decrease
in the cost of funds as a result of the Federal Reserve’s continued action in maintaining a
low interest rate environment.
Noninterest expense related to operating activities totaled $5.0 million for the quarter ended
June 30, 2009, compared to $4.1 million for the quarter ended June 30, 2008, an increase of $805
thousand, or 19.4%. For the six months ended June 30, 2009, noninterest expense totaled $9.5
million, compared to $8.2 million for the six months ended June 30, 2008, an increase of $1.3
million, or 15.7%. The increase in noninterest expense for the current quarter and six month
period was a result of increased compensation and occupancy costs related to the opening of the
Gary Banking Center in October 2008 and the Valparaiso Banking Center in June 2009. Also affecting
the increase in noninterest expense was the payment of additional FDIC insurance premiums,
resulting from an industry wide special assessment as of June 30, 2009 and an increase in the
quarterly insurance premiums. For the six months ended June 30, 2009, the Bancorp’s FDIC deposit
insurance premiums totaled $740 thousand, compared to $30 thousand for the six months ended June
30, 2008, an increase of $710 thousand or 2366.7%.
Bochnowski noted that the growth in expenses related to the new Gary and Valparaiso banking
centers were consistent with projections and that activity at both locations had exceeded
expectations. Bochnowski also stated that noninterest income from banking operations demonstrated
strong growth during the current six month period.
Noninterest income from banking activities for the quarter ended June 30, 2009 totaled $1.5
million, compared to $1.2 million for the quarter ended June 30, 2008, an increase of $314
thousand, or 26.6%. Contributing to the increase in noninterest income for the second quarter of
2009 were $299 thousand in gains from the sale of fixed rate mortgage loans and $204 thousand in
gains from the sale of available-for-sale securities. For the six months ended June 30, 2009,
noninterest income totaled $3.1 million, compared to $2.4 million for the six months ended June 30,
2008, an increase of $729 thousand, or 30.6%. For the first six months of 2009, $46.8 million in
fixed rate mortgage loans were sold resulting in $865 thousand in gains, while gains from the sale
of available-for-sale securities totaled $344 thousand.
At June 30, 2009, deposits totaled $530.0 million, an increase of $1.8 million, compared to
December 31, 2008. During the first six months of 2009, non-interest bearing checking and savings
account balances increased by $6.7 million, while certificates of deposit increased by $7.3
million. During the current period, interest bearing checking and money market accounts decreased
by $12.2 million, as a result of planned withdrawals by local governmental units and
municipalities. At June 30, 2009, core deposits totaled $291.6 million, while certificates of
deposit totaled $238.4 million. Core deposits include checking, savings, and money market
accounts. Core deposits represented 55.0% of the Bancorp’s total deposits at the end of June. At
June 30, 2009, borrowings totaled $75.2 million, an increase of $410 thousand for the current six
months.
During the six months ended June 30, 2009, $114.3 million in new loans were originated,
compared to $123.4 million for the six months ended June 30, 2008. During the current six months,
mortgage loan originations totaled $42.1 million, compared to $23.6 million for the same period in
2008. The increase in mortgage loan originations was a result of consumers taking advantage of the
low rate environment to refinance their home loans. During the first six months of 2009, the
Bancorp’s commercial loan originations totaled $65.8 million, compared to $90.3 million for six
months ended June 30, 2008. The decrease in commercial loan originations is a result of the
current economic downturn. The Bancorp’s lending portfolio totaled $460.9 million at June 30,
2009, a decrease of $28.6 million. Bochnowski noted that to avoid long-term interest rate risk,
the Bank adopted a policy of selling all conforming fixed rate mortgage loan originations into the
secondary market. During the current six months, the Bancorp’s management sold $36.2 million in
newly originated fixed rate mortgage loans and $10.6 million in seasoned fixed rate mortgage loans
into the secondary market. During the current six months, $6.8 million in growth occurred in
construction & development loans and commercial business loans.
According to Bochnowski, “Loan volume did not follow through during the second quarter from
the increases in originations reported during the first three months of 2009. However, our loan
inquiries indicate the potential for higher volumes in the coming quarter,” he said.
Bochnowski added, “The Bank has taken prudent action to establish reserves for loan losses
consistent with the impact of the economic downturn on our loan portfolio. Management will
continue to closely monitor credit quality and will continue to take the appropriate action as
conditions may warrant.”
The Bancorp’s ratio of non-performing loans to total assets increased to 3.61% at June 30,
2009, compared to 1.87% at December 31, 2008. The Bancorp’s current level of non-performing loans
is concentrated with four commercial real estate participation loans totaling $16.7 million or
69.6% of total non-performing loans. Based on current information provided by the lead lenders,
three of the commercial real estate participation loans have collateral deficiencies, for which
management has established $2.6 million in specific reserves within the allowance for loan losses.
For the fourth commercial real estate participation loan, current information provided by the lead
lender indicates that there is a collateral sufficiency. As a result of management’s assessment of
current credit quality within its loan portfolio, provisions to the allowance for loan losses
totaled $1.8 million for the first six months of 2009, while $950 thousand in provisions were
recorded during the first six months of 2008. For the six months ended June 30, 2009, net loan
charge-offs totaled $953 thousand, compared to $77 thousand for the first six months of 2008. At
June 30, 2009, the allowance for loan losses totaled $6.7 million and is considered adequate by
management. The allowance for loan losses as a percentage of totals loans was 1.45% at June 30,
2009, compared to 1.19% at December 31, 2008. To the extent that actual cash flows, collateral
values and strength of personal guarantees differ from current estimates used to establish the
allowance for loan losses, additional provisions to the allowance for loan losses may be required.
“The Bank remains optimistic that confidence will be restored in our economy with new
opportunities for expansion and growth. Construction on our new St. John banking center will begin
this fall with an opening planned for spring of next year,” Bochnowski noted.
At June 30, 2009, shareholders’ equity stood at $53.7 million or 8.02% of total assets. The
Bancorp’s total capital to risk-weighted assets was 11.4% at June 30, 2009. Under all regulatory
capital requirements, the Bancorp is considered well capitalized. As previously reported during
the first quarter of 2009, after a careful review of the Federal government’s Capital Purchase
Program, Peoples Bank concluded that the Capital Purchase Program funds were not needed and Peoples
Bank did not apply. The book value of the Bancorp’s stock stood at $18.93 at the end of the second
quarter.
The NorthWest Indiana Bancorp’s common stock is traded on the OTC Bulletin Board under NWIN.
The Bancorp’s subsidiary, Peoples Bank, has offices in Crown Point, Dyer, East Chicago,
Gary, Hammond, Hobart, Merrillville, Munster, Schererville, and Valparaiso, Indiana. The
Bank’s website, www.ibankpeoples.com, provides information on the Bank’s products, services and
investor relations.
“Forward-looking statements” as defined in the Private Securities Litigation Reform Act of
1995 may be included in this release. A variety of factors could cause the Bancorp’s actual
results to differ from those expected at the time of this release. These include, but are not
limited to, changes in economic conditions in the Bancorp’s market area, changes in policies by
regulatory agencies, fluctuation in interest rates, demand for loans in the Bancorp’s market area,
economic conditions resulting from the current turmoil in the financial services industry,
including depressed demand in the housing market, competition and other risks set forth in the
Bancorp’s reports filed with the Securities and Exchange Commission, including its Annual Report on
Form 10-K for the year ended December 31, 2008. Readers are urged to carefully review and consider
the various disclosures made by the Bancorp in its periodic reports filed with the Securities and
Exchange Commission. Forward-looking statements speak only as of the date they are made, and the
Bancorp undertakes no obligation to update them in light of new information or future events.
NorthWest Indiana Bancorp
Quarterly Financial Report
Key Ratios
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
Six Months Ended |
| |
|
June 30, |
|
June 30, |
| |
|
(Unaudited) |
|
(Unaudited) |
| |
|
2009 |
|
2008 |
|
2009 |
|
2008 |
Return on equity |
|
|
7.71 |
% |
|
|
10.36 |
% |
|
|
10.16 |
% |
|
|
11.19 |
% |
Return on assets |
|
|
0.63 |
% |
|
|
0.89 |
% |
|
|
0.82 |
% |
|
|
0.96 |
% |
Basic earnings per share |
|
$ |
0.37 |
|
|
$ |
0.51 |
|
|
$ |
0.98 |
|
|
$ |
1.10 |
|
Diluted earnings per share |
|
$ |
0.37 |
|
|
$ |
0.51 |
|
|
$ |
0.98 |
|
|
$ |
1.09 |
|
Yield on loans |
|
|
5.54 |
% |
|
|
6.05 |
% |
|
|
5.59 |
% |
|
|
6.14 |
% |
Yield on security investments |
|
|
3.90 |
% |
|
|
4.62 |
% |
|
|
4.20 |
% |
|
|
4.64 |
% |
Total yield on earning assets |
|
|
5.13 |
% |
|
|
5.77 |
% |
|
|
5.27 |
% |
|
|
5.84 |
% |
Cost of deposits |
|
|
1.39 |
% |
|
|
2.02 |
% |
|
|
1.51 |
% |
|
|
2.28 |
% |
Cost of borrowings |
|
|
2.68 |
% |
|
|
2.99 |
% |
|
|
2.63 |
% |
|
|
3.37 |
% |
Total cost of funds |
|
|
1.53 |
% |
|
|
2.14 |
% |
|
|
1.64 |
% |
|
|
2.41 |
% |
Net interest margin — tax equivalent |
|
|
3.86 |
% |
|
|
3.85 |
% |
|
|
3.89 |
% |
|
|
3.67 |
% |
Noninterest income / average assets |
|
|
0.89 |
% |
|
|
0.73 |
% |
|
|
0.93 |
% |
|
|
0.74 |
% |
Noninterest expense / average assets |
|
|
2.95 |
% |
|
|
2.55 |
% |
|
|
2.83 |
% |
|
|
2.56 |
% |
Net noninterest margin / average assets |
|
|
-2.06 |
% |
|
|
-1.82 |
% |
|
|
-1.90 |
% |
|
|
-1.82 |
% |
Efficiency ratio |
|
|
68.55 |
% |
|
|
60.98 |
% |
|
|
64.95 |
% |
|
|
63.38 |
% |
Effective tax rate |
|
|
8.99 |
% |
|
|
21.25 |
% |
|
|
16.70 |
% |
|
|
18.54 |
% |
Dividend declared per common share |
|
$ |
0.32 |
|
|
$ |
0.36 |
|
|
$ |
0.68 |
|
|
$ |
0.72 |
|
| |
|
|
|
|
|
|
|
|
| |
|
June 30, |
|
|
| |
|
2009 |
|
December 31, |
| |
|
(Unaudited) |
|
2008 |
Net worth / total assets |
|
|
8.02 |
% |
|
|
7.94 |
% |
Book value per share |
|
$ |
18.93 |
|
|
$ |
18.79 |
|
Non-performing loans to total assets |
|
|
3.61 |
% |
|
|
1.87 |
% |
Non-performing loans to total loans |
|
|
5.21 |
% |
|
|
2.54 |
% |
Allowance for loan loss to non-performing loans |
|
|
27.89 |
% |
|
|
46.97 |
% |
Allowance for loan loss to loans outstanding |
|
|
1.45 |
% |
|
|
1.19 |
% |
Foreclosed real estate to total assets |
|
|
0.25 |
% |
|
|
0.08 |
% |
Consolidated Statements of Income
(Dollars in thousands)
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
|
Six Months Ended |
|
| |
|
June 30, |
|
|
June 30, |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| |
|
2009 |
|
|
2008 |
|
|
2009 |
|
|
2008 |
|
Interest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans |
|
$ |
6,557 |
|
|
$ |
7,369 |
|
|
$ |
13,410 |
|
|
$ |
14,795 |
|
Securities & short-term investments |
|
|
1,517 |
|
|
|
1,404 |
|
|
|
3,105 |
|
|
|
2,807 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total interest income |
|
|
8,074 |
|
|
|
8,773 |
|
|
|
16,515 |
|
|
|
17,602 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
|
1,885 |
|
|
|
2,604 |
|
|
|
4,051 |
|
|
|
5,890 |
|
Borrowings |
|
|
461 |
|
|
|
549 |
|
|
|
947 |
|
|
|
1,131 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total interest expense |
|
|
2,346 |
|
|
|
3,153 |
|
|
|
4,998 |
|
|
|
7,021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income |
|
|
5,728 |
|
|
|
5,620 |
|
|
|
11,517 |
|
|
|
10,581 |
|
Provision for loan losses |
|
|
1,115 |
|
|
|
820 |
|
|
|
1,815 |
|
|
|
950 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income after provision for loan losses |
|
|
4,613 |
|
|
|
4,800 |
|
|
|
9,702 |
|
|
|
9,631 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fees & service charges |
|
|
671 |
|
|
|
707 |
|
|
|
1,310 |
|
|
|
1,403 |
|
Gain on sale of loans, net |
|
|
299 |
|
|
|
31 |
|
|
|
865 |
|
|
|
70 |
|
Wealth management operations |
|
|
205 |
|
|
|
208 |
|
|
|
402 |
|
|
|
417 |
|
Gain on sale of securities, net |
|
|
204 |
|
|
|
30 |
|
|
|
344 |
|
|
|
146 |
|
Cash value increase from bank owned life insurance |
|
|
104 |
|
|
|
102 |
|
|
|
208 |
|
|
|
205 |
|
Gain/(loss) on foreclosed real estate |
|
|
6 |
|
|
|
— |
|
|
|
(31 |
) |
|
|
19 |
|
Other income |
|
|
7 |
|
|
|
104 |
|
|
|
11 |
|
|
|
120 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total noninterest income |
|
|
1,496 |
|
|
|
1,182 |
|
|
|
3,109 |
|
|
|
2,380 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation & benefits |
|
|
2,245 |
|
|
|
2,153 |
|
|
|
4,610 |
|
|
|
4,334 |
|
Occupancy & equipment |
|
|
750 |
|
|
|
719 |
|
|
|
1,533 |
|
|
|
1,415 |
|
Federal deposit insurance premiums |
|
|
553 |
|
|
|
15 |
|
|
|
740 |
|
|
|
30 |
|
Data processing |
|
|
215 |
|
|
|
216 |
|
|
|
430 |
|
|
|
428 |
|
Marketing |
|
|
147 |
|
|
|
115 |
|
|
|
214 |
|
|
|
219 |
|
Other |
|
|
1,042 |
|
|
|
929 |
|
|
|
1,973 |
|
|
|
1,788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total noninterest expense |
|
|
4,952 |
|
|
|
4,147 |
|
|
|
9,500 |
|
|
|
8,214 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
|
1,157 |
|
|
|
1,835 |
|
|
|
3,311 |
|
|
|
3,797 |
|
Income tax expenses |
|
|
104 |
|
|
|
390 |
|
|
|
553 |
|
|
|
704 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
1,053 |
|
|
$ |
1,445 |
|
|
$ |
2,758 |
|
|
$ |
3,093 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NorthWest Indiana Bancorp
Quarterly Financial Report
Balance Sheet Data
(Dollars in thousands)
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
June 30, |
|
|
|
|
|
|
| |
|
2009 |
|
December 31, |
|
Change |
|
Mix |
| |
|
(Unaudited) |
|
2008 |
|
% |
|
% |
Total assets |
|
$ |
663,956 |
|
|
$ |
664,732 |
|
|
|
-0.1 |
% |
|
|
|
|
Cash & cash equivalents |
|
|
18,732 |
|
|
|
11,296 |
|
|
|
65.8 |
% |
|
|
|
|
Securities — available for sale |
|
|
126,459 |
|
|
|
108,207 |
|
|
|
16.9 |
% |
|
|
|
|
Securities — held to maturity |
|
|
18,233 |
|
|
|
18,515 |
|
|
|
-1.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans receivable: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction and land development |
|
|
60,444 |
|
|
|
54,975 |
|
|
|
9.9 |
% |
|
|
10.6 |
% |
1-4 first liens |
|
|
165,393 |
|
|
|
196,708 |
|
|
|
-15.9 |
% |
|
|
40.9 |
% |
Multifamily |
|
|
12,259 |
|
|
|
12,283 |
|
|
|
-0.2 |
% |
|
|
2.7 |
% |
Commercial real estate |
|
|
129,740 |
|
|
|
130,256 |
|
|
|
-0.4 |
% |
|
|
26.0 |
% |
Commercial business |
|
|
50,686 |
|
|
|
49,310 |
|
|
|
2.8 |
% |
|
|
10.4 |
% |
1-4 Junior Liens |
|
|
3,996 |
|
|
|
4,913 |
|
|
|
-18.7 |
% |
|
|
1.1 |
% |
HELOC |
|
|
20,905 |
|
|
|
21,231 |
|
|
|
-1.5 |
% |
|
|
4.2 |
% |
Lot loans |
|
|
2,928 |
|
|
|
3,084 |
|
|
|
-5.1 |
% |
|
|
0.7 |
% |
Consumer |
|
|
1,716 |
|
|
|
1,966 |
|
|
|
-12.7 |
% |
|
|
0.4 |
% |
Government and other |
|
|
12,794 |
|
|
|
14,783 |
|
|
|
-13.5 |
% |
|
|
3.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans |
|
|
460,861 |
|
|
|
489,509 |
|
|
|
-5.9 |
% |
|
|
100.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest bearing checking |
|
|
46,221 |
|
|
|
43,367 |
|
|
|
6.6 |
% |
|
|
9.3 |
% |
Interest bearing checking |
|
|
84,120 |
|
|
|
87,379 |
|
|
|
-3.7 |
% |
|
|
16.2 |
% |
Savings |
|
|
56,351 |
|
|
|
52,459 |
|
|
|
7.4 |
% |
|
|
10.3 |
% |
MMDA |
|
|
104,922 |
|
|
|
113,870 |
|
|
|
-7.9 |
% |
|
|
23.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total core deposits |
|
|
291,614 |
|
|
|
297,075 |
|
|
|
-1.8 |
% |
|
|
58.8 |
% |
Certificates of deposit |
|
|
238,382 |
|
|
|
231,073 |
|
|
|
3.2 |
% |
|
|
41.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total deposits |
|
|
529,996 |
|
|
|
528,148 |
|
|
|
0.3 |
% |
|
|
100.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Borrowings |
|
|
75,205 |
|
|
|
74,795 |
|
|
|
0.5 |
% |
|
|
|
|
Stockholder’s equity |
|
|
53,274 |
|
|
|
52,773 |
|
|
|
0.9 |
% |
|
|
|
|
Asset Quality
(Dollars in thousands)
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
June 30, |
|
|
|
|
| |
|
2009 |
|
December 31, |
|
Change |
| |
|
(Unaudited) |
|
2008 |
|
% |
Nonaccruing loans |
|
$ |
21,974 |
|
|
$ |
10,937 |
|
|
|
100.9 |
% |
Accruing loans delinquent more than 90 days |
|
|
2,020 |
|
|
|
1,476 |
|
|
|
36.9 |
% |
Securities in non-accrual |
|
|
2,740 |
|
|
|
— |
|
|
|
100.0 |
% |
Foreclosed real estate |
|
|
1,646 |
|
|
|
527 |
|
|
|
212.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total nonperforming assets |
|
|
28,380 |
|
|
|
12,940 |
|
|
|
119.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan losses (ALL): |
|
|
|
|
|
|
|
|
|
|
|
|
ALL specific allowances for impaired loans |
|
|
2,889 |
|
|
|
1,683 |
|
|
|
71.7 |
% |
ALL general allowances for loan
portfolio |
|
|
3,803 |
|
|
|
4,147 |
|
|
|
-8.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total ALL |
|
|
6,692 |
|
|
|
5,830 |
|
|
|
14.8 |
% |
Capital Adequacy
| |
|
|
|
|
|
|
|
|
| |
|
Actual |
|
Required to be |
| |
|
Ratio |
|
well capitalized |
|
|
|
|
|
|
|
|
|
Total capital to risk-weighted assets |
|
|
11.4 |
% |
|
|
10.0 |
% |
Tier 1 capital to risk-weighted assets |
|
|
10.1 |
% |
|
|
6.0 |
% |
Tier 1 capital to adjusted average assets |
|
|
8.2 |
% |
|
|
5.0 |
% |