This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

First Financial Holdings, Inc. Announces First Quarter Fiscal 2011 Net Income

Total delinquent loans at December 31, 2010 also included $4.2 million in loans covered under a purchase and assumption "loss-share" agreement with the Federal Deposit Insurance Corporation ("FDIC"), as compared with $5.0 million at September 30, 2010. 

                     
  December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 December 31, 2009
NONPERFORMING ASSETS (in thousands)  $   % of Portfolio   $   % of Portfolio   $   % of Portfolio   $   % of Portfolio   $   % of Portfolio 
Residential loans                    
 Residential 1-4 Family  $ 20,371  2.29%  $ 17,350  2.07%  $ 17,898  2.21%  $ 13,763  1.77%  $ 15,759  2.05%
 Residential construction  ---  ---  ---  ---  ---  ---  ---  ---  ---  ---
 Residential land  4,997  9.29  4,872  8.65  5,527  9.53  5,922  9.57  5,485  8.36
 Total residential loans  25,368  2.65  22,222  2.45  23,425  2.66  19,685  2.30  21,244  2.51
                     
Commercial loans                    
 Commercial business  9,769  10.72  6,951  7.50  6,789  6.07  7,563  6.55  5,238  4.24
 Commercial real estate  57,724  9.77  48,973  8.18  35,560  5.99  34,583  5.83  28,637  4.84
 Commercial construction  4,484  18.77  5,704  20.05  5,738  14.31  7,127  11.77  3,706  5.30
 Commercial land  43,824  32.73  46,109  32.16  50,269  30.53  55,719  29.51  40,164  18.77
Total commercial loans  115,801  13.79  107,737  12.48  98,356  10.80  104,992  10.96  77,745  7.78
                     
Consumer loans                    
 Home equity  9,450  2.39  6,969  1.75  6,937  1.72  7,773  1.91  6,626  1.63
 Manufactured housing  3,609  1.34  2,909  1.08  3,189  1.20  2,899  1.13  2,715  1.08
 Marine  67  0.11  188  0.29  135  0.20  166  0.24  259  0.35
 Other consumer  555  0.96  206  0.34  16  0.03  143  0.23  153  0.23
Total consumer loans  13,681  1.74  10,272  1.29  10,277  1.28  10,981  1.38  9,753  1.22
 Total nonaccrual loans  154,850  5.99  140,231  5.47  132,058  5.10  135,658  5.19  108,742  4.11
Loans 90+ days still accruing  204    175    170    104    124  
Restructured Loans, still accruing  1,578    750    ------    ------    ------  
Total nonperforming loans  156,632  6.06%  141,156  5.51%  132,228  5.10%  135,762  5.20%  108,866  4.12%
Other repossessed assets acquired  19,660    11,950    12,543    11,957    20,864  
Total nonperfoming assets  $176,292    $153,106    $144,771    $147,719    $129,730  
                     
                     

Total nonperforming assets at December 31, 2010 increased $23.2 million or 15.1% over the linked quarter.  The increase in nonperforming loans over the linked quarter included $9.3 million of predominantly commercial loans determined to be impaired and moved to nonperforming status prior to becoming 90 days past due. Three loans accounted for 47% of this total. Additionally, 30 loans totaling $6.1 million were matured in excess of 90 days and were moved to nonperforming status while negotiations with the borrowers continue toward renewal or alternate resolution. The remaining net increase from the linked quarter was related primarily to a higher number of relatively small loans migrating from delinquency to nonperforming. Reductions offsetting the new nonperforming loans include $3.2 million in charged-off loans, $8.0 million in transfers to REO, and $5.3 million in paydowns as a result of normal borrower activity.   

5 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,079.57 -42.44 -0.25%
S&P 500 1,996.74 -3.38 -0.17%
NASDAQ 4,557.6950 -11.9260 -0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs