First Financial Holdings, Inc. Announces Fourth Quarter And Fiscal 2010 Year End Results
The following table displays total loans by major loan category at each of the last five quarters:
|LOANS (in thousands)||September 30, 2010||June 30, 2010||March 31, 2010||December 31, 2009||September 30, 2009|
|Residential 1-4 Family||$ 836,644||$ 810,180||$ 778,747||$ 767,923||$ 749,289|
|Total residential loans||907,424||880,173||857,566||848,031||840,677|
|Commercial real estate||598,547||593,894||593,128||591,787||601,135|
|Total commercial loans||863,012||910,493||957,944||999,218||1,031,324|
|Total consumer loans||793,912||800,153||796,705||796,953||789,741|
|Less: Allowance for loan losses||86,871||86,945||82,731||73,534||68,473|
|Net loans||$ 2,477,477||$ 2,503,874||$ 2,529,484||$ 2,570,668||$ 2,593,269|
|Note: Certain amounts have been reclassified to conform with current period presentation.|
Total loans decreased $26.5 million or 1.0% from June 30, 2010 and declined $97.4 million or 3.7% from the same period one year ago. The decrease from September 30, 2009 in residential construction, residential land and commercial loans results from a combination of lower loan demand, increased loan charge-offs and the transfer of nonperforming loans to real estate owned. Increased volume in residential loans is attributable to originations and refinances during the current low interest rate environment. Manufactured housing loans increased due to higher customer demand and the expansion of relationships with dealers.
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