At June 30, 2010, the Company had a $6.5 million secured, performing land loan in Roslyn, New York considered to be a troubled debt restructuring and classified. The borrower requested and was granted an interest rate concession. This credit has been on the Company's watch list since 2008. The loan is fully advanced and well secured with respect to the collateral value.As of June 30, 2010, the Company's allowance for loan losses amounted to $31 million or 2.8% of period-end loans outstanding. The allowance as a percentage of loans outstanding was 2.5% at June 30, 2009 and 2.3% at March 31, 2010.
State Bancorp, Inc. Reports Second Quarter 2010 Results
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