Our allowance for loan losses is comprised of three elements: a general loss reserve, a specific reserve for impaired loans and a reserve for smaller-balance homogenous loans. The following table presents these three elements of our allowance for loan losses (in thousands):
|December 31,||September 30,||June 30,||March 31,||December 31,|
|General loss reserve||$||102,196||$||102,752||$||104,002||$||126,423||$||126,435|
|Specific reserve (1)||10,804||11,416||12,111||38,054||51,826|
|Smaller-balance homogenous loans reserve||13,798||14,442||13,944||13,933||13,956|
|Total allowance for loan losses||$||126,798||$||128,610||$||130,057||$||178,410||$||192,217|
|(1)||The specific reserve as of March 31, 2011 and December 31, 2010 includes reserves on unfunded credit commitments of approximately $12.7 million and $13.6 million, respectively. Beginning as of June 30, 2011, reserves on unfunded credit commitments are recorded as liabilities.|
Although management believes that adequate specific and general loan loss allowances have been established, actual losses are dependent upon future events and, as such, further additions to the level of specific and general loan loss allowances may become necessary.