Nonperforming assets were $62.5 million, or 1.43% of total assets at December 31, 2012, compared to $57.1 million, or 1.34% at September 30, 2012 and $91.7 million, or 2.14% at December 31, 2011.
The percentage of loan delinquencies (including delinquent nonperforming loans) to total loans was 1.62% as of December 31, 2012 compared to 1.27% as of September 30, 2012 and 2.48% as of December 31, 2011. Performing loan delinquencies remained unchanged at a very low 0.40% of total loans.
The following table summarizes current loan portfolio delinquencies as a percent of total loans compared to prior periods.
|(Dollars in thousands)||December 31, 2012||September 30, 2012||December 31, 2011|
|Total commercial loans||$2,817||0.13%||$2,281||0.11%||$5,677||0.26%|
|Performing loan delinquencies||11,089||0.40||10,706||0.40||16,795||0.61|
|Nonperforming loan delinquencies||33,920||1.22||23,603||0.87||51,467||1.87|
|Total loan delinquencies||$45,009||1.62%||$34,309||1.27%||$ 68,262||2.48%|
Asset quality statistics in any quarter can be negatively affected by the change in status of a small number of large commercial credits. This was the case in the fourth quarter, as asset quality was impacted by one commercial relationship ($12.4 million) of which a substantial portion became delinquent. The entire relationship was moved to nonaccruing status. Excluding the impact of this relationship, nonperforming assets were $50.1 million, or 1.15% of total assets and total delinquencies were 1.22% of total loans.