This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

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

The nonperforming loans at December 31, 2010 included $13.7 million in loans covered under a purchase and assumption "loss-share" agreement with the FDIC, as compared with $14.7 million at September 30, 2010. 

  December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 December 31, 2009
NET CHARGE-OFFS (in thousands)  $   % of Portfolio*   $   % of Portfolio*   $   % of Portfolio*   $   % of Portfolio*   $   % of Portfolio* 
Residential loans                    
 Residential 1-4 Family  $ 612  0.28%  $ 2,311  1.12%  $ 1,673  0.84%  $ 2,715  1.40%  $ 59  0.03%
 Residential construction  ---  ---  ---  ---  ---  ---  ---  ---  ---  ---
 Residential land  735  5.34  1,297  9.08  975  6.51  1,127  7.07  1,781  10.08
 Total residential loans  1,347  0.58  3,608  1.61  2,648  1.22  3,842  1.80  1,840  0.87
                     
Commercial loans                    
 Commercial business  264  1.15  1,789  7.00  3,868  13.62  1,656  5.54  1,046  3.33
 Commercial real estate  237  0.16  3,402  2.28  5,267  3.55  8,085  5.46  1,807  1.21
 Commercial construction  314  4.80  270  3.15  2,051  16.30  1,094  6.71  3,114  16.60
 Commercial land  2,127  6.14  4,175  10.84  12,165  27.53  17,017  33.79  7,796  14.31
Total commercial loans  2,942  1.38  9,636  4.35  23,351  10.00  27,852  11.38  13,763  5.42
                     
Consumer loans                    
 Home equity  2,974  3.00  2,669  2.66  4,379  4.32  3,017  2.97  2,432  2.42
 Manufactured housing  834  1.24  1,145  1.71  950  1.46  638  1.01  763  1.23
 Marine  184  1.14  195  1.16  401  2.31  621  3.45  608  3.24
 Other consumer  724  4.89  399  2.59  430  2.73  748  4.60  860  4.99
Total consumer loans  4,716  2.39  4,408  2.21  6,160  3.09  5,024  2.52  4,663  2.35
Total net charge-offs  $ 9,005  1.38%  $ 17,652  2.71%  $ 32,159  4.91%  $ 36,718  5.55%  $ 20,266  3.02%

The decrease in net charge-offs for the quarter ended December 31, 2010 from the prior quarter was primarily the result of lower credit writedowns in the residential 1-4 family and all commercial loan categories as there were fewer loans requiring valuation adjustments on the underlying collateral.

6 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 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

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