HMN Financial, Inc. Announces Third Quarter Results
The following table summarizes the number of lending relationships and industry of commercial business loans that were non-performing for the two most recent quarters and December 31, 2009.
|(Dollars in thousands) Property Type||#||Principal Amount of Loan September 30, 2010||#||Principal Amount of Loan June 30, 2010||#||Principal Amount of Loan December 31, 2009|
|Construction/development||7||$ 7,317||7||$7,366||5||$ 4,094|
The Company had specific reserves established against the above commercial business loans of $8.6 million, $7.0 million and $3.4 million, respectively, at September 30, 2010, June 30, 2010 and December 31, 2009.
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