Non-performing assets (“NPAs”), comprised of non-performing loans (“NPLs”) and REO, were $50.1 million, or 11.97% of total assets, at December 31, 2011, as compared to $53.3 million, or 12.63% of total assets, at September 30, 2011 and $46.5 million, or 9.60% of total assets, at December 31, 2010. At December 31, 2011, NPLs, including non-performing loans held for sale, were $43.1 million compared to $48.0 million at September 30, 2011 and $43.4 million December 31, 2010. These loans consist of delinquent loans that are 90 days or more past due and troubled debt restructurings (“TDRs”) that do not qualify for accrual status.Our total NPLs have declined during each of the last three quarters of 2011. Also, our total delinquencies and our total classified loans, which include NPLs, have declined in each of the four quarters of 2011. In addition, at December 31, 2011, approximately $19.3 million, or 45%, of our NPLs were paying currently. The NPLs at December 31, 2011 included 29 church loans totaling $23.5 million, 17 one-to-four family residential real estate loans totaling $7.9 million, 14 commercial real estate loans totaling $6.3 million, 9 multi-family residential real estate loans totaling $5.0 million, a land loan for $302 thousand, and a consumer loan for $70 thousand.
Broadway Financial Corporation Reports Net Loss For 4th Quarter And Year 2011
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