At December 31, 2012, we had $50.4 million in performing TDR loans, a decrease of $1.2 million from performing TDR loans at September 30, 2012 and an increase of $11.8 million from performing TDR loans at December 31, 2011. In terms of number of loans, we had 34 performing TDR loans at December 31, 2012, compared to 32 performing TDR’s at September 30, 2012 and 16 performing TDR loans at December 31, 2011.
Non-performing assets, defined as non-covered non-accrual loans and other real estate owned, totaled $72.8 million at December 31, 2012, $76.5 million at September 30, 2012, and $76.5 million at December 31, 2011.
Classified loans are loans that are graded “substandard” or worse. At December 31, 2012, classified loans totaled $314.0 million, compared to $302.5 million at September 30, 2012. The $11.5 million increase was primarily due to the downgrading of several dairy and livestock loans. Classified loans decreased $45.2 million from $359.2 million at December 31, 2011.
San Joaquin Bank Asset Quality (Covered loans)At December 31, 2012, we had $220.5 million of gross loans from SJB with a carrying value of $195.2 million, compared to $235.9 million of gross loans at September 30, 2012 with a carrying value of $207.3 million, and $330.4 million of gross loans at December 31, 2011 and $262.5 million in carrying value. Of the gross loans, we had $27.9 million in non-performing loans as of December 31, 2012, or 12.67%, compared to $83.7 million in non-performing loans at December 31, 2011, or 25.35%. We had three properties in OREO totaling $1.1 million, compared to three properties totaling $1.3 million at September 30, 2012, and 16 properties totaling $9.8 million at December 31, 2011. CitizensTrust CitizensTrust has approximately $2.10 billion in assets under management and administration, including $1.58 billion in assets under management, as of December 31, 2012. Revenues were $1.9 million for the fourth quarter and $8.2 million for 2012, compared to $2.2 million and $8.7 million for the same periods in 2011. CitizensTrust provides trust, investment and brokerage related services, as well as financial, estate and business succession planning.
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