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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

Stocks in this article: MBFI

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,
2011   2011   2011   2011   2010
 
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.

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