We had $55.3 million in non-performing loans at March 31, 2012, or 1.74% of total loans. This compares to non-performing loans of $62.7 million at December 31, 2011. The $55.3 million in non-performing loans for the first quarter is summarized as follows: $8.4 million in commercial construction, $13.1 million in residential mortgages, $27.2 million in commercial real estate, $4.1 million in commercial and industrial, $1.2 million in dairy & livestock loans, and $1.3 million in other loans.At March 31, 2012, we had $11.4 million in Other Real Estate Owned (“OREO”), a decrease of $2.4 million from OREO of $13.8 million at December 31, 2011. At December 31, 2011, we had eleven OREO properties. During the first three months of 2012, we added one property for a total of $294,000 to OREO. We sold three properties with an OREO value of $2.6 million at a gain of $15,000. We now have nine OREO properties.
CVB Financial Corp. Reports First Quarter Earnings For 2012
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts