Accruing loans and leases past due 90 days or more were $10.1 million at March 31, 2012, up from $9.2 million at December 31, 2011, and up from $5.6 million at March 31, 2011. The increase was largely due to consumer delinquencies in residential first mortgage and home equity loans, which continue to be primarily on neighbor island properties. Restructured loans not included in non-accrual loans or accruing loans past due 90 days or more were $29.5 million at March 31, 2012 and was primarily comprised of residential mortgage loans with lowered monthly payments to accommodate the borrowers’ financial needs for a period of time. More information on non-performing assets and accruing loans and leases past due 90 days or more is presented in Table 11.Net charge-offs during the first quarter of 2012 declined to $3.4 million or 0.24 percent annualized of total average loans and leases outstanding. Loan and lease charge-offs of $7.8 million during the quarter were partially offset by recoveries of $4.4 million. Net charge-offs in the fourth quarter of 2011 were $7.0 million, or 0.51 percent annualized of total average loans and leases outstanding, and were comprised of $9.6 million in charge-offs partially offset by recoveries of $2.6 million. Net charge-offs during the first quarter of 2011 were $4.7 million, or 0.36 percent annualized of total average loans and leases outstanding, and were comprised of $7.4 million in charge-offs partially offset by recoveries of $2.7 million.
Bank Of Hawaii Corporation First Quarter 2012 Financial Results
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