A reconciliation of the Company’s allowance for loan losses for the quarters ended June 30, 2013 and 2012 is summarized as follows:

         
   
(Dollars in thousands)   2013   2012
Balance at March 31, $21,941 $21,424
Provision (520 ) 1,088
Charge offs:
One-to-four family (13 ) 0
Consumer (55 ) (493 )
Commercial business (556 ) (1,820 )
Commercial real estate (759 ) (1,554 )
Recoveries 321   1,874  
Balance at June 30, $20,359   $20,519  

Allocated to:
General allowance $12,260 $14,507
Specific allowance 8,099   6,012  
$20,359   $20,519  
         
 

The following table summarizes the amounts and categories of non-performing assets in the Bank’s portfolio and loan delinquency information as of the end of the three most recently completed quarters.
                             
  June 30,     March 31,     December 31,
(Dollars in thousands)     2013         2013         2012
Non-Performing Loans:
One-to-four family real estate $ 2,091 $ 2,127 $ 2,492
Commercial real estate 21,533 24,590 25,543
Consumer 1,462 334 300
Commercial business 755 1,711 1,640
Total 25,841 28,762 29,975
 
Foreclosed and Repossessed Assets:
One-to-four family real estate 707 1,114 1,595
Commercial real estate 8,716 8,804 9,000
Total non-performing assets $ 35,264 $ 38,680 $ 40,570
Total as a percentage of total assets 6.29 % 6.17 % 6.21 %
Total non-performing loans $ 25,841 $ 28,762 $ 29,975
Total as a percentage of total loans receivable, net 6.22 % 6.62 % 6.60 %
Allowance for loan loss to non-performing loans 78.79 % 76.29 % 72.09 %
 
Delinquency Data:
Delinquencies (1)
30+ days $ 5,820 $ 3,613 $ 2,739
90+ days (2) 0 4 7,423
Delinquencies as a percentage of
Loan and lease portfolio (1)
30+ days 1.22 % 0.76 % 0.57 %
90+ days 0.00 % 0.00 % 1.55 %
                           
 

(1) Excludes non-accrual loans. (2) Loans delinquent for 90 days and over are generally non-accruing and are included in the Company’s non-performing asset total unless they are well secured and in the process of collection.

The increase in delinquent loans in the second quarter of 2013 relates to a multi-family loan for $1.2 million and a $2.0 million commercial business loan that, because of unanticipated delays in the loan renewal process, were more than 30 days delinquent at June 30, 2013.

If you liked this article you might like

Joseph Stilwell's 13F Filings Can Lead to Big Profits

3 Stocks Pushing The Banking Industry Lower

3 Stocks Pushing The Banking Industry Lower

3 Stocks Pushing The Banking Industry Lower

HMN Financial Inc Stock Downgraded (HMNF)