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

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

Total nonperforming assets (NPAs) were $11.5 million at quarter end, compared to $11.3 million at September 30, 2012, and $15.9 million at December 31, 2011. Troubled debt restructured loans totaled $6.7 million, up from $3.5 million at September 30, 2012, but down from $7.2 million at December 31, 2011, as the Company restructured one larger relationship during the fourth quarter.

Classified loans totaled $24.9 million at quarter end, a 23.9% decrease from September 30, 2012 and a 53.1% decrease from a year ago. Classified loans are loans in which the Company anticipates potential problems in obtaining repayment of principal and interest per the contractual terms, but does not necessarily believe that losses will occur.

"We achieved a substantial reduction in problem loans during the fourth quarter, as we successfully resolved a number of remaining work-out situations," said Hecker. 

The following tables summarize nonperforming assets by type and geographic region, and provide trending information over the prior year.
NPA BY CATEGORY
(Dollars in thousands) 12/31/2012 % of total 9/30/2012 % of total 12/31/2011 % of total
Commercial loans  $ 4,042 35.2%  $ 3,400 30.2%  $ 3,686 23.0%
Commercial real estate 1,716 14.9% 1,021 9.1% 2,786 17.5%
Commercial construction 44 0.3%
Land and land development 5,118 44.6% 6,204 55.0% 8,653 54.3%
Agriculture 98 0.9% 26 0.2% 187 1.2%
Multifamily
Residential real estate 502 4.4% 609 5.4% 567 3.6%
Residential construction 2
Consumer 4 12 0.1% 17 0.1%
Total NPA by Categories  $ 11,480 100.0%  $ 11,272 100.0%  $ 15,942 100.0%

The modest increase in commercial and commercial real estate NPAs reflects the addition of one larger relationship, for which active restructuring efforts are underway. Exposure from land and land development loans continues to decline each quarter. Most of the remaining NPAs are in the North Idaho/Eastern Washington region, reflecting the Company's higher loan totals in these areas, and the presence of a couple of larger problem credits in this market area.

3 of 9

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs