(2) Includes $12.7 million for unfunded credit commitments at March 31, 2011.
The activity in the second quarter of 2011 reflects the previously disclosed sale of certain performing, sub-performing and non-performing loans, which resulted in approximately $87.6 million in charge-offs and an increase in the provision for credit losses of approximately $50 million.
Our allowance for loan losses is comprised of three elements: a general loss reserve, a specific reserve for impaired loans and a reserve for smaller-balance homogenous loans. The following table presents these three elements of our allowance for loan losses (in thousands):
|March 31,||December 31,||September 30,||June 30,||March 31,|
|General loss reserve||$||98,985||$||102,196||$||102,752||$||104,002||$||126,423|
|Specific reserve (1)||13,422||10,804||11,416||12,111||38,054|
|Smaller-balance homogenous loans reserve||13,024||13,798||14,442||13,944||13,933|
|Total allowance for loan losses||$||125,431||$||126,798||$||128,610||$||130,057||$||178,410|
(1) The specific reserve as of March 31, 2011 includes reserves on unfunded credit commitments of approximately $12.7 million. Beginning as of June 30, 2011, reserves on unfunded credit commitments are recorded as liabilities.
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