“Total non-accrual loans decreased more than 34% to $17.5 million, or 3.6% of gross loans, at June 30, 2012 compared to $26.7 million, or 5.8 % of gross loans at June 30, 2011,” Mr. Maher added.Other real estate owned (OREO) was $1.5 million at June 30, 2012 compared to $3.6 million at June 30, 2011. Only two properties remain in OREO. Non-performing assets, which consist of non-accrual loans and OREO, totaled $19.0 million, or 2.9% of total assets, at June 30, 2012, compared to $30.3 million, or 4.7% of total assets, a year ago.
Patriot National Bancorp Earns $345,000 In Second Quarter; Highlighted By Improved Credit Quality And Ongoing Operating Efficiencies
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