This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

First Financial Northwest, Inc. Reports Net Income For The Fourth Quarter Of $1.5 Million Or $0.09 Per Share And $2.7 Million Or $0.15 Per Share For The Year Ended December 31, 2012

The following table presents a breakdown of our troubled debt restructured loans ("TDRs"):

        Three Month One Year
  December 31, September 30, December 31, Increase/ Increase/
  2012 2012 2011 (Decrease) (Decrease)
  (In thousands)
Nonperforming TDRs:          
One-to-four family residential  $ 3,422   $ 3,907   $ 3,994   $ (485)   $ (572)
Multifamily  1,058  1,058  --  --  1,058
Commercial real estate  --  --  902  --  (902)
Construction/land development  --  --  183  --  (183)
Consumer  48  48  --  --  48
           
Total nonperforming TDRs  4,528  5,013  5,079  (485)  (551)
           
Performing TDRs:          
One-to-four family residential  52,644  52,467  52,768  177  (124)
Multifamily  1,239  1,243  2,504  (4)  (1,265)
Commercial real estate  11,965  11,058  10,883  907  1,082
Consumer  --  --  70  --  (70)
           
Total performing TDRs  65,848  64,768  66,225  1,080  (377)
           
Total TDRs   $ 70,376   $ 69,781   $ 71,304   $ 595   $ (928)
           

During the fourth quarter of 2012, TDRs increased $595,000 to $70.4 million, compared to $69.8 million at September 30, 2012. Our philosophy is to restructure the loan so that the customer can continue to make payments while minimizing the potential loss to the Bank. As part of the restructure, the portion of the loan that is determined to be uncollectable is charged-off. After the restructure, the Bank expects full payment of the restructured amount. At December 31, 2012, $65.8 million, or 93.6% of TDRs were performing in accordance with their repayment terms. One-to-four family residential TDRs comprised 79.7% of total TDRs at December 31, 2012, compared to 80.8% at September 30, 2012. Commercial real estate TDRs comprised 17.0% of total TDRs at December 31, 2012, compared to 15.8% at September 30, 2012.

4 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs