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Intermountain Community Bancorp Reports Fourth Quarter Profit And Full Year 2012 Results

"Loan demand is picking up in our markets and our lending teams are working with many borrowers to grow present and future business," noted Hecker. "Although we anticipate a seasonal reduction in agricultural loans in the first quarter of 2013, we are encouraged that new loan production seems to be gaining steam overall," he added.

The following tables summarize the Company's loan portfolio by type and geographic region, and provide trending information over the prior year.

LOANS BY CATEGORIES
(Dollars in thousands) 12/31/2012 % of total 9/30/2012 % of total 12/31/2011 % of total
Commercial loans $ 121,307 23.0% $ 115,203 22.5% $ 110,395 21.4%
Commercial real estate 186,844 35.4% 174,965 34.2% 167,586 32.6%
Commercial construction 3,832 0.7% 2,573 0.5% 6,335 1.2%
Land and land development 31,278 5.9% 33,814 6.6% 38,499 7.5%
Agriculture 85,967 16.3% 87,851 17.2% 81,316 15.8%
Multifamily 16,544 3.1% 17,849 3.5% 26,038 5.1%
Residential real estate 60,020 11.3% 59,367 11.6% 58,861 11.4%
Residential construction 940 0.2% 532 0.1% 2,742 0.5%
Consumer 9,626 1.8% 9,724 1.9% 11,847 2.3%
Municipal 12,267 2.3% 9,827 1.9% 11,063 2.2%
Total loans receivable $ 528,625 100.0% $ 511,705 100.0% $ 514,682 100.0%
Allowance for loan losses (7,943)   (9,088)   (12,690)  
Net deferred origination costs 86   235   260  
Loans receivable, net  $ 520,768    $ 502,852    $ 502,252  
 
LOAN PORTFOLIO BY LOCATION
December 31, 2012
 
(Dollars in thousands) North Idaho - Eastern Washington Magic Valley Idaho Greater Boise Area E. Oregon, SW Idaho, excluding Boise Other Total % of Loan type to total loans
Commercial loans  $ 87,387  $ 4,606  $ 9,252  $ 13,852  $ 6,210  $ 121,307 23%
Commercial real estate 123,451 11,330 10,651 18,895 22,517 186,844 35.4%
Commercial construction 503 2,819 510 3,832 0.7%
Land and land development 20,710 1,748 6,298 1,500 1,022 31,278 5.9%
Agriculture 1,670 3,269 16,886 60,479 3,663 85,967 16.3%
Multifamily 10,396 151 5,947 30 20 16,544 3.1%
Residential real estate 41,624 3,734 3,808 7,083 3,771 60,020 11.3%
Residential construction 387 240 313 940 0.2%
Consumer 5,716 1,026 517 2,053 314 9,626 1.8%
Municipal 10,880 1,387 12,267 2.3%
Total  $ 302,724  $ 27,251  $ 56,418  $ 104,205  $ 38,027  $ 528,625 100.0%
Percent of total loans in geographic area 57.3% 5.2% 10.7% 19.7% 7.2% 100.0%  

Asset Quality

Nonperforming loans totaled $6.5 million at December 31, 2012, a slight increase from $5.6 million at September 30, 2012, but down from $9.3 million at December 31, 2011. The allowance for loan loss coverage of non-performing loans totaled 121.7% as of December 31, 2012, down from 161.3% at September 30, 2012 and 136.6% at December 31, 2011, respectively, as the Company's allowance was reduced as resolved credits were charged against prior period reserves and the overall quality of the loan portfolio improved.

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