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MB Financial, Inc. Reports Third Quarter 2012 Net Income Of $23.1 Million And An Increase Of The Quarterly Dividend To $0.10 Per Share

Stocks in this article: MBFI

Our loan portfolio mix improved over the past twelve months as generally lower risk commercial and lease loan balances increased while generally higher risk commercial real estate and construction loan balances decreased.

ASSET QUALITY

The following table presents a summary of non-performing assets, excluding loans held for sale, credit-impaired loans that were acquired as part of our FDIC-assisted transactions and OREO related to assets acquired in FDIC-assisted transactions, as of the dates indicated (dollar amounts in thousands):

  September 30,   June 30,   March 31,   December 31,   September 30,
  2012       2012       2012       2011       2011  
Non-performing loans:
Non-accrual loans (1) $ 104,813 $ 113,077 $ 124,011 $ 129,309 $ 140,979
Loans 90 days or more past due, still accruing interest 470   453   679   82   -  
Total non-performing loans 105,283   113,530   124,690   129,391   140,979  
 
OREO 42,427 49,690 63,077 78,452 87,469
Repossessed vehicles 113   60   81   156   249  
Total non-performing assets $ 147,823   $ 163,280   $ 187,848   $ 207,999   $ 228,697  
 
Total allowance for loan losses $ 121,182 $ 121,756 $ 125,431 $ 126,798 $ 128,610
 
Accruing restructured loans (2) $ 17,929 $ 16,536 $ 24,145 $ 37,996 $ 34,321
 
Total non-performing loans to total loans 1.87 % 1.98 % 2.15 % 2.17 % 2.42 %
Total non-performing assets to total assets 1.56 % 1.72 % 1.94 % 2.12 % 2.30 %
Allowance for loan losses to non-performing loans 115.10 % 107.25 % 100.59 % 98.00 % 91.23 %

(1) Includes $27.1 million, $32.7 million, $34.7 million, $42.5 million and $36.0 million of restructured loans on non-accrual status at September 30, 2012, June 30, 2012, March 31, 2012, December 31, 2011 and September 30, 2011, respectively.

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