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MB Financial, Inc. Reports Loan Growth, Strong Fee Income, And Fourth Quarter Net Income Of $24.0 Million

ASSET QUALITY

As discussed earlier, classified assets declined during the quarter and compared to a year ago. The increase in non-performing loans on a linked quarter basis was more than offset by the decline in potential problem loans and OREO.

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

         
12/31/2012 9/30/2012 6/30/2012 3/31/2012 12/31/2011
Non-performing loans:
Non-accrual loans (1) $ 115,387 $ 104,813 $ 113,077 $ 124,011 $ 129,309
Loans 90 days or more past due, still accruing interest 1,599   470   453   679   82  
Total non-performing loans 116,986   105,283   113,530   124,690   129,391  
 
OREO 36,977 42,427 49,690 63,077 78,452
Repossessed assets 773   113   60   81   156  
Total non-performing assets 154,736   147,823   163,280   187,848   207,999  
 
Potential problem loans 111,553   134,289   141,066   159,440   149,756  
Total classified assets $ 266,289   $ 282,112   $ 304,346   $ 347,288   $ 357,755  
 
Total allowance for loan losses $ 124,204 $ 121,182 $ 121,756 $ 125,431 $ 126,798
 
Accruing restructured loans (2) $ 21,256 $ 17,929 $ 16,536 $ 24,145 $ 37,996
 
Total non-performing loans to total loans 2.03 % 1.87 % 1.98 % 2.15 % 2.17 %
Total non-performing assets to total assets 1.62 % 1.56 % 1.72 % 1.94 % 2.12 %
Allowance for loan losses to non-performing loans 106.17 % 115.10 % 107.25 % 100.59 % 98.00 %
 
(1)   Includes $25.4 million, $27.1 million, $32.7 million, $34.7 million and $42.5 million of restructured loans on non-accrual status at December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012 and December 31, 2011, respectively.
(2) Accruing restructured loans consists primarily of residential real estate and home equity loans that have been modified and are performing in accordance with those modified terms as of the dates indicated.
 

The following table presents data related to non-performing loans by category (excluding loans held for sale and credit-impaired loans that were acquired as part of our FDIC-assisted transactions) as of the dates indicated (dollars in thousands):

           
12/31/2012 9/30/2012 6/30/2012 3/31/2012 12/31/2011
 
Commercial and lease $ 25,517 $ 22,648 $ 24,402 $ 34,471 $ 36,995
Commercial real estate 59,508 55,387 62,512 70,939 76,551
Construction real estate 1,028 1,225 1,470 1,553 1,145
Consumer related 30,933 26,023 25,146 17,727 14,700
Total non-performing loans $ 116,986 $ 105,283 $ 113,530 $ 124,690 $ 129,391
 

Consumer related non-performing loans increased compared to September 30, 2012 as a result of three residential real estate loans being downgraded to non-accrual status during the fourth quarter of 2012. Consumer related non-performing loans increased compared to a year ago primarily due to the increase in home equity and residential non-performing loans.

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