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MB Financial, Inc. Reports Fourth Quarter 2011 Net Income Of $19.5 Million, Fourth Quarter Loan Growth, Strong Pre-Tax, Pre-Provision Income And Improving Credit Quality

The following table represents a summary of OREO, excluding OREO related to FDIC-assisted transactions (in thousands):

         
December 31, September 30, June 30, March 31, December 31,
2011   2011   2011   2011   2010
 
Balance at the beginning of quarter $ 87,469 $ 88,185 $ 80,107 $ 71,476 $ 59,114
Transfers in at fair value less estimated costs to sell 4,209 15,658 15,761 25,167 27,170
Fair value adjustments (3,733) (2,524) (3,417) (1,314) (1,562)
Net gains (losses) on sales of OREO 113 170 (212) 945 (94)
Cash received upon disposition (9,606) (14,020) (4,054) (16,167) (13,152)
Balance at the end of quarter $ 78,452 $ 87,469 $ 88,185 $ 80,107 $ 71,476
 

The following table presents data related to non-performing loans, by dollar amount and category at December 31, 2011, excluding loans held for sale and credit-impaired loans that were acquired as part of our FDIC-assisted transactions (dollar amounts in thousands):

               
Construction Real Estate Commercial Real Estate Consumer
    Commercial and Lease Loans   Loans   Loans   Loans   Total Loans
Number of Number of Number of
    Relationships   Amount   Relationships   Amount   Relationships   Amount   Amount   Amount
$10.0 million or more - $ - - $ - - $ - $ - $ -
$5.0 million to $9.9 million 2 14,322 - - 2 15,435 - 29,757
$1.5 million to $4.9 million 5 12,031 - - 13 37,509 - 49,540
Under $1.5 million 42     10,642   3     1,145   61     23,607     14,700     50,094
49   $ 36,995   3   $ 1,145   76   $ 76,551   $ 14,700   $ 129,391
 
Percentage of individual loan category 1.59% 0.62% 4.13% 1.58% 2.17%
 

The following table presents data related to non-performing loans, by dollar amount and category at September 30, 2011, excluding loans held for sale and credit-impaired loans that were acquired as part of our FDIC-assisted transactions (dollar amounts in thousands):

               
Construction Real Estate Commercial Real Estate Consumer Total
    Commercial and Lease Loans   Loans   Loans   Loans   Loans
Number of Number of Number of
    Relationships   Amount   Relationships   Amount   Relationships   Amount   Amount   Amount
$10.0 million or more - $ - - $ - - $ - $ - $ -
$5.0 million to $9.9 million 3 20,136 - - 3 23,938 - 44,074
$1.5 million to $4.9 million 4 8,854 - - 13 37,474 - 46,328
Under $1.5 million 37     8,654   5     2,913   54     25,495     13,515     50,577
44   $ 37,644   5   $ 2,913   70   $ 86,907   $ 13,515   $ 140,979
 
Percentage of individual loan category 1.78% 1.39% 4.71% 1.45% 2.42%
 

We define potential problem loans as performing loans rated substandard that do not meet the definition of a non-performing loan (See “Asset Quality” section above for non-performing loans). Potential problem loans carry a higher probability of default and require additional attention by management. The aggregate principal amount of potential problem loans was $149.8 million, or 2.51% of total loans, as of December 31, 2011, compared to $179.7 million, or 3.09% of total loans, as of September 30, 2011. The decrease was primarily due to loan risk rating upgrades and loan payments, as well as some downward migration to non-performing status.

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