The allowance for loan losses at September 30, 2012 was $28.4 million, representing 2.46% of total net loans, compared to $30.4 million, or 2.61%, at December 31, 2011. The allowance included specific reserves for impaired loans (comprised of all nonaccrual loans as well as accruing TDRs) at each date totaling $5 million and $8 million, respectively.At September 30, 2012, the Company had a deferred tax asset totaling $32 million, which included remaining unused NOL and AMT credit carryforwards totaling $22 million for Federal tax purposes and $52 million for State and Local tax purposes. These carryforwards are available to reduce taxes payable on the Company's future taxable income.
Intervest Bancshares Corporation Reports 2012 Third Quarter Earnings Of $2.2 Million Or $0.10 Per Share
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