At December 31, 2010, the Company had $27 million in troubled debt restructurings (TDRs), primarily consisting of two $10 million classified partially secured commercial and industrial (C&I) loans and a classified $6.5 million secured, performing land loan in Roslyn, New York. The borrowers requested and were granted interest rate or other concessions. These credits have been on the Company's watch list since 2009 and 2008, respectively, and are fully advanced. The Company had TDRs amounting to $436 thousand at December 31, 2009 and $7.2 million at September 30, 2010.As of December 31, 2010, the Company's allowance for loan losses amounted to $33 million or 2.9% of period-end loans outstanding. The allowance as a percentage of loans outstanding was 2.6% at December 31, 2009 and 2.9% at September 30, 2010.
State Bancorp, Inc. Reports Fourth Quarter And Full Year 2010 Profits
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.