We recorded a provision for loan losses of $1.5 million for the twelve months ended December 31, 2010 and a provision for loan losses of $687,000 for the twelve months ended December 31, 2009. At December 31, 2010, nonperforming loans (including troubled debt restructurings not included in nonaccrual loans), totaled $5.4 million, or 2.8% of total loans, as compared to $3.4 million, or 2.0% of total loans, at December 31, 2009. The allowance for loan losses to total loans receivable increased to 1.11% at December 31, 2010 as compared to 0.55% at December 31, 2009.Noninterest income increased by $537,000, or 22.6%, to $2.9 million for the twelve months ended December 31, 2010 from $2.4 million for the twelve months ended December 31, 2009. The increase was primarily due to an increase in gains from the sale of securities and mortgage loans.
SP Bancorp, Inc. Announces Increased Earnings For The 4th Quarter And Year Of 2010
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
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.