The stabilization of property values resulted in fewer and less severe write-downs of previously identified problem assets. We are also encouraged by the reduction in non-performing assets for the second consecutive quarter, lower delinquencies, and reduction in troubled debt restructure.Net charge-offs were also a factor in the improved earnings as they were down compared to both the linked quarter and the first quarter 2010. We anticipate the level of charge-offs s will be choppy over the next several quarters as more of the problem assets work through this system. However we are confident that we’ve adequately reserved for these assets.
First Defiance Financial's CEO Discusses Q1 2011 Results - Earnings Call Transcript
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