At June 30, 2012, PBI Bank’s Tier 1 leverage ratio was 7.38% and its Total risk-based capital ratio was 11.71%, which are below the minimums of 9.0% and 12.0% required by the Bank’s Consent Order. At June 30, 2012, Porter Bancorp’s leverage ratio was 7.56%, compared with 7.30% at March 31, 2012, and 6.53% at December 31, 2011, and its Total risk-based capital ratio was 11.94% compared with 11.68% at March 31, 2012, and 11.22% at December 31, 2011. We are continuing our efforts to strengthen our capital levels and comply with the Consent Order.

Non-Accrual Loan Activity
 
    (in thousands)
Non-accrual loans at March 31, 2012 $ 97,230
Net principal pay-downs (4,084)
Charge-offs (4,902)
Loans foreclosed and transferred to OREO (15,243)
Loans placed on non-accrual during the period   8,652
 
Non-accrual loans at June 30, 2012 $ 81,653
 
 
Other Real Estate Owned (OREO) Activity (Net of Allowance)
 
(in thousands)
OREO at March 31, 2012 $ 35,574
Real estate acquired 23,910
Valuation adjustment write downs (350)
Proceeds from sales of properties (4,223)
Gain (loss) on sales, net   (546)
 
OREO at June 30, 2012 $ 54,365
 

PBIB-G PBIB-F

Forward-Looking Statements

Statements in this press release relating to Porter Bancorp’s plans, objectives, expectations or future performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “should,” “anticipate,” “estimate,” “expect,” “intend,” “objective,” “seek,” “plan,” “strive” or similar words, or negatives of these words, identify forward-looking statements. These forward-looking statements are based on management’s current expectations. Porter Bancorp’s actual results in future periods may differ materially from those currently expected due to various risks and uncertainties, including those discussed under “Risk Factors” in the Company’s Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission. The forward-looking statements in this press release are made as of the date of the release and Porter Bancorp does not assume any responsibility to update these statements.

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