- The Bank remained well capitalized in the second quarter of 2011, with a Tier 1 (core) capital ratio of 6.30% and a total risk-based capital ratio of 11.28% at June 30, 2011.
- Non-performing assets at June 30, 2011, increased to $47.0 million from $39.7 million on a linked-quarter basis at March 31, 2011, and $38.1 million at December 31, 2010.
- Annualized net charge-offs to average loans increased to 1.95% for the second quarter of 2011 from 1.75% for the first quarter of 2011, but decreased from 6.83% in the year-earlier second quarter.
- Total assets were $801.8 million at June 30, 2011, compared with $901.4 million at June 30, 2010, as the Company has continued to manage its asset size within its overall capital management strategy in order to balance earnings with targeted capital levels.
Atlantic Coast Financial Corporation Reports Second Quarter 2011 Results
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