Asset Quality and Provisions For Loan LossesTotal non-performing assets and loans 90+ days past due declined $9.3 million sequentially from $59.5 million at September 30, 2012, to $50.2 million at December 31, 2012, and increased from $47.8 million at December 31, 2011. As a percentage of total assets, non-performing assets decreased from 1.98% at September 30, 2012, to 1.78% at December 31, 2012, while increasing from 1.63% at December 31, 2011. As of December 31, 2012, the allowance for loan losses represented 1.95% of total loans, compared to 1.92% and 2.24%, at September 30, 2012, and December 31, 2011, respectively. The allowance for loan losses covered 112.8% of total non-performing loans as of December 31, 2012, compared to 90.8% and 125.4%, at September 30, 2012, and December 31, 2011, respectively.
Virginia Commerce Bancorp, Inc. Reports Strong Fourth Quarter Performance With Full Repurchase Of All TARP Preferred Stock
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