This Day On The Street
Continue to site
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

First Defiance Financial CEO Discusses Q2 2011 Results - Earnings Call Transcript

The reduction in non-performing assets, other real estate owned and net charge-offs are all indications of this. But we did not get the reduction in classified assets we had anticipated during the quarter, it was not result of identifying new credit issues that slower progress than we had hoped for on previously identified credits.

As I’ve said in the past, we are going to continue to take a conservative approach to the grading of our credits.

The improvement in overall credit quality has brought most of our key credit metrics below the levels they were at the beginning of 2009, we are focused on driving them lower. As loan quality continued its improvement through the quarter loan balances remained a challenge. The slow on environment have showed some signs revival earlier in the spring has pulled back slightly. This slowness along with the decreases in loan balances resulting from working out problem loans and normal amortization resulted in a reduction in the loan portfolio for the fourth consecutive quarter.

Late in the second quarter we did see some improvement in this trend and we hope we can keep this momentum going. The deposit side of the balance sheet continues to perform well for us as we’ve been able to continue reducing our cost to deposits and build our non-interest bearing deposits.

Non-interest deposits were up over $35 million or almost 19% over the period ending June 30, 2010. As a result this along with additional rate reduction on interest bearing accounts has helped us hold on margin in a relatively narrow range by offsetting over yields on the asset side, although, this has bound to come under pressure eventually.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs