Press Release

PCB Bancorp Reports Earnings of $3.6 million for Q1 2020

Company Release - 4/30/2020 4:05 PM ET

LOS ANGELES--(BUSINESS WIRE)-- PCB Bancorp (the “Company”) (NASDAQ: PCB), the holding company of Pacific City Bank (the “Bank”), today reported net income of $3.6 million, or $0.23 per diluted common share for the first quarter of 2020, compared with $4.2 million, or $0.26 per diluted common share, for the previous quarter and $6.6 million, or $0.40 per diluted common share, for the year-ago quarter.

Q1 2020 Financial Highlights

  • Net income totaled $3.6 million or $0.23 per diluted common share;
    • The Company recorded a provision for loan losses of $2.9 million primarily due to an increase in the economic uncertainty due to the COVID-19 pandemic.
    • Allowance for loan losses to total loans held-for-investment ratio was 1.15% at March 31, 2020 compared with 0.99% at December 31, 2019 and 0.98% at March 31, 2019.
  • Total assets were $1.80 billion at March 31, 2020, an increase of $53.6 million, or 3.1%, from $1.75 billion at December 31, 2019, and an increase of $82.2 million, or 4.8%, from $1.72 billion at March 31, 2019;
  • Loans held-for-investment, net of deferred costs (fees), were $1.45 billion at March 31, 2020, an increase of $207 thousand from $1.45 billion at December 31, 2019, and an increase of $107.9 million, or 8.0%, from $1.34 billion at March 31, 2019;
  • Total deposits were $1.48 billion at March 31, 2020, a decrease of $1.9 million, or 0.1%, from $1.48 billion at December 31, 2019, but an increase of $29.7 million, or 2.1%, from $1.45 billion at March 31, 2019;
  • The Company completed the publicly announced $6.5 million share repurchase program in March 2020 (repurchased and retired 428,474 shares of common stock since its commencement in January 2020);
  • The Company declared and paid a cash dividend of $0.10 per common share for the first quarter of 2020 compared with $0.08 per common share for the fourth quarter of 2019 and $0.05 per common share for the first quarter of 2019; and
  • As of April 24, 2020, the Company has extended 930 PPP loans totaling $104 million and provided payment deferrals to 461 loans with an aggregated balance of $347 million.

“Although our first quarter performance was impacted by the initial impact of the COVID-19 pandemic, I am very proud of the way our institution has responded to its challenges. We have decisively taken a number of steps to protect the safety of our employees and to support our customers,” commented Henry Kim, President and Chief Executive Officer. “We have enabled our staffs to work remotely, established social distancing procedures within our bank premises and branches for both employees and customers.”

Mr. Kim added, “We have been diligently helping our customers with loan deferrals and the SBA Paycheck Protection Program. We believe with the Bank’s substantial liquidity position, strong capital base with a common equity tier 1 risk-based capital of 15.3%, loan portfolio diversification, and conservative underwriting practices should enable us to proactively resolve the challenges related to the COVID-19 pandemic that we are likely to face in the coming quarters.”

Financial Highlights (Unaudited)

 

 

ThreeMonthsEnded

($ in thousands, except per share data)

 

3/31/2020

 

12/31/2019

 

% Change

 

3/31/2019

 

% Change

Net income

 

$

 

3,572

 

 

$

 

4,158

 

 

(14.1

)%

 

$

 

6,564

 

 

(45.6

)%

Diluted earnings per common share

 

$

 

0.23

 

 

$

 

0.26

 

 

(11.5

)%

 

$

 

0.40

 

 

(42.5

)%

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

 

16,566

 

 

$

 

16,660

 

 

(0.6

)%

 

$

 

17,153

 

 

(3.4

)%

Provision (reversal) for loan losses

 

 

2,896

 

 

 

4,030

 

 

(28.1

)%

 

 

(85

)

 

NM

 

Noninterest income

 

 

2,026

 

 

 

3,604

 

 

(43.8

)%

 

 

2,409

 

 

(15.9

)%

Noninterest expense

 

 

10,567

 

 

 

10,265

 

 

2.9

%

 

 

10,289

 

 

2.7

%

 

 

 

 

 

 

 

 

 

 

 

Return on average assets (1)

 

 

0.81

%

 

 

0.96

%

 

 

 

 

1.57

%

 

 

Return on average shareholders’ equity (1), (2)

 

 

6.35

%

 

 

7.25

%

 

 

 

 

12.43

%

 

 

Net interest margin (1)

 

 

3.85

%

 

 

3.96

%

 

 

 

 

4.22

%

 

 

Efficiency ratio (3)

 

 

56.84

%

 

 

50.66

%

 

 

 

 

52.60

%

 

 

 

 

 

 

 

 

 

 

 

 

 

($ in thousands, except per share data)

 

3/31/2020

 

12/31/2019

 

% Change

 

3/31/2019

 

% Change

Total assets

 

$

 

1,799,937

 

 

$

 

1,746,328

 

 

3.1

%

 

$

 

1,717,774

 

 

4.8

%

Net loans held-for-investment

 

 

1,434,364

 

 

 

1,436,451

 

 

(0.1

)%

 

 

1,330,035

 

 

7.8

%

Total deposits

 

 

1,477,442

 

 

 

1,479,307

 

 

(0.1

)%

 

 

1,447,758

 

 

2.1

%

Book value per common share (2), (4)

 

$

 

14.58

 

 

$

 

14.44

 

 

1.0

%

 

$

 

13.57

 

 

7.4

%

Tier 1 leverage ratio (consolidated)

 

 

12.57

%

 

 

13.23

%

 

 

 

 

12.83

%

 

 

Total shareholders’ equity to total assets (2)

 

 

12.45

%

 

 

12.99

%

 

 

 

 

12.64

%

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Ratios are presented on an annualized basis.

(2)

The Company did not have any intangible equity components for the presented periods.

(3)

The ratios are calculated by dividing noninterest expense by the sum of net interest income and noninterest income.

(4)

The ratios are calculated by dividing total shareholdersequity by the number of outstanding common shares.

Result of Operations (Unaudited)

Net Interest Income and Net Interest Margin

The following table presents the components of net interest income for the periods indicated:

 

 

ThreeMonthsEnded

($ in thousands)

 

3/31/2020

 

12/31/2019

 

% Change

 

3/31/2019

 

% Change

Interest income/expense on:

 

 

 

 

 

 

 

 

 

 

Loans

 

$

 

20,406

 

 

$

 

20,888

 

 

(2.3

)%

 

$

 

20,934

 

 

(2.5

)%

Investment securities

 

 

644

 

 

 

823

 

 

(21.7

)%

 

 

1,093

 

 

(41.1

)%

Other interest-earning assets

 

 

610

 

 

 

565

 

 

8.0

%

 

 

925

 

 

(34.1

)%

Total interest-earning assets

 

 

21,660

 

 

 

22,276

 

 

(2.8

)%

 

 

22,952

 

 

(5.6

)%

Interest-bearing deposits

 

 

4,992

 

 

 

5,514

 

 

(9.5

)%

 

 

5,665

 

 

(11.9

)%

Borrowings

 

 

102

 

 

 

102

 

 

%

 

 

134

 

 

(23.9

)%

Total interest-bearing liabilities

 

 

5,094

 

 

 

5,616

 

 

(9.3

)%

 

 

5,799

 

 

(12.2

)%

Net interest income

 

$

 

16,566

 

 

$

 

16,660

 

 

(0.6

)%

 

$

 

17,153

 

 

(3.4

)%

Average balance of:

 

 

 

 

 

 

 

 

 

 

Loans

 

$

 

1,454,727

 

 

$

 

1,415,781

 

 

2.8

%

 

$

 

1,342,168

 

 

8.4

%

Investment securities

 

 

118,502

 

 

 

146,454

 

 

(19.1

)%

 

 

167,461

 

 

(29.2

)%

Other interest-earning assets

 

 

158,793

 

 

 

108,919

 

 

45.8

%

 

 

140,464

 

 

13.0

%

Total interest-earning assets

 

$

 

1,732,022

 

 

$

 

1,671,154

 

 

3.6

%

 

$

 

1,650,093

 

 

5.0

%

Interest-bearing deposits

 

$

 

1,129,699

 

 

$

 

1,097,957

 

 

2.9

%

 

$

 

1,115,648

 

 

1.3

%

Borrowings

 

 

25,117

 

 

 

21,141

 

 

18.8

%

 

 

30,074

 

 

(16.5

)%

Total interest-bearing liabilities

 

$

 

1,154,816

 

 

$

 

1,119,098

 

 

3.2

%

 

$

 

1,145,722

 

 

0.8

%

Annualized average yield/cost of:

 

 

 

 

 

 

 

 

 

 

Loans

 

 

5.64

%

 

 

5.85

%

 

 

 

 

6.33

%

 

 

Investment securities

 

 

2.19

%

 

 

2.23

%

 

 

 

 

2.65

%

 

 

Other interest-earning assets

 

 

1.55

%

 

 

2.06

%

 

 

 

 

2.67

%

 

 

Total interest-earning assets

 

 

5.03

%

 

 

5.29

%

 

 

 

 

5.64

%

 

 

Interest-bearing deposits

 

 

1.78

%

 

 

1.99

%

 

 

 

 

2.06

%

 

 

Borrowings

 

 

1.63

%

 

 

1.91

%

 

 

 

 

1.81

%

 

 

Total interest-bearing liabilities

 

 

1.77

%

 

 

1.99

%

 

 

 

 

2.05

%

 

 

Net interest margin

 

 

3.85

%

 

 

3.96

%

 

 

 

 

4.22

%

 

 

Supplementary information

 

 

 

 

 

 

 

 

 

 

Net accretion of discount (premium) on loans included in interest on loans

 

$

 

1,028

 

 

$

 

938

 

 

9.6

%

 

$

 

858

 

 

19.8

%

 

 

 

 

 

 

 

 

 

 

 

Loans. The decreases in average yield for the current quarter compared with the previous and year-ago quarters were primarily due to the lower market rates. The Wall Street Journal prime rate decreased to 3.25% during the current quarter compared to 4.75% at December 31, 2019 and 5.50% at March 31, 2019.

The following table presents a composition of total loans by interest rate type accompanied with the weighted-average contractual rates as of the dates indicated:

 

 

3/31/2020

 

12/31/2019

 

3/31/2019

 

 

% to Total
Loans

 

Weighted-
Average
Contractual
Rate

 

% to Total
Loans

 

Weighted-
Average
Contractual
Rate

 

% to Total
Loans

 

Weighted-
Average
Contractual
Rate

Fixed rate loans

 

30.2

%

 

5.19

%

 

28.2

%

 

5.29

%

 

17.6

%

 

5.33

%

Hybrid rate loans

 

14.6

%

 

5.01

%

 

15.2

%

 

5.03

%

 

17.0

%

 

5.00

%

Variable rate loans

 

55.2

%

 

4.41

%

 

56.6

%

 

5.51

%

 

65.4

%

 

6.29

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment Securities. The decrease in average yield for the current quarter compared with the previous quarter was primarily due to an increase in premium amortization from the higher prepayment trend in the current quarter, as well as sales of securities available-for-sale of $32.8 million with a weighted-average book yield of 3.02% during the previous quarter. The decrease compared with the year-ago quarter was primarily due to new investment securities purchased under the lower market rates during the past 12-month period and the sale of securities available-for-sale during the previous quarter. During the current quarter and past 12-month period, the Company purchased $7.5 million and $17.5 million of investment securities, respectively.

Other Interest-Earning Assets. The average yield on other interest-bearing assets is closely related to the changes in market rates, as the Company maintains most of its cash at the Federal Reserve Bank account. The decreases in average yield for the current quarter compared with the previous and year-ago quarters were primarily due to the lower market rates. The average balance for the current quarter increased primarily due to the Company’s strategic decision to increase its liquidity level by increasing Federal Home Loan Bank (“FHLB”) advances as a part of the Company’s liquidity management.

Interest-Bearing Deposits. The decreases in average cost for the current quarter compared with the previous and year-ago quarters were primarily due to the continuing decreases in market rates. See the balance change discussion during the current quarter in “Deposits” under the “Balance Sheet” discussion.

Borrowings. As discussed above, the Company borrowed additional fixed rate term advances of $60.0 million from FHLB, ranging from 6 months to 1 year with a weighted-average rate of 0.46% as a part of the Company’s liquidity management. At March 31, 2020, the Company had a total outstanding FHLB advances of $80.0 million with a weighted-average rate of 0.82%.

Provision (Reversal) for Loan Losses

Provision (reversal) for loan losses was $2.9 million for the current quarter compared with $4.0 million for the previous quarter and $(85) thousand for the year-ago quarter. Additional provision for loan losses for the current quarter was primarily due to an increase in the economic uncertainty due to the COVID-19 pandemic and net charge-offs of $602 thousand during the current quarter. Changes in international, national, regional, and local economic and business conditions and developments from the COVID-19 pandemic affected the potential collectability of the loan portfolio, including the condition of various market segments, and has resulted in an additional allowance for loan losses of $2.7 million. The Company recorded net charge-offs of $2.7 million for the previous quarter and net recoveries of $52 thousand for the year-ago quarter. Allowance for loan losses to total loans held-for-investment ratio was 1.15% at March 31, 2020, 0.99% at December 31, 2019, and 0.98% at March 31, 2019.

Noninterest Income

The following table presents the components of noninterest income for the periods indicated:

 

 

ThreeMonthsEnded

($ in thousands)

 

3/31/2020

 

12/31/2019

 

% Change

 

3/31/2019

 

% Change

Gain on sale of loans

 

$

 

725

 

 

$

 

1,445

 

 

(49.8

)%

 

$

 

1,120

 

 

(35.3

)%

Gain on sale of securities available-for-sale

 

 

 

 

786

 

 

(100.0

)%

 

 

 

%

Service charges and fees on deposits

 

 

390

 

 

 

407

 

 

(4.2

)%

 

 

364

 

 

7.1

%

Loan servicing income

 

 

554

 

 

 

652

 

 

(15.0

)%

 

 

631

 

 

(12.2

)%

Other income

 

 

357

 

 

 

314

 

 

13.7

%

 

 

294

 

 

21.4

%

Total noninterest income

 

$

 

2,026

 

 

$

 

3,604

 

 

(43.8

)%

 

$

 

2,409

 

 

(15.9

)%

 

 

 

 

 

 

 

 

 

 

 

Gain on Sale of Loans. The following table presents information on gain on sale of loans for the periods indicated:

 

 

ThreeMonthsEnded

($ in thousands)

 

3/31/2020

 

12/31/2019

 

% Change

 

3/31/2019

 

% Change

Gain on sale of SBA loans

 

 

 

 

 

 

 

 

 

 

Sold loan balance

 

$

 

11,715

 

 

$

 

27,072

 

 

(56.7

)%

 

$

 

21,183

 

 

(44.7

)%

Premium received

 

 

1,056

 

 

 

2,067

 

 

(48.9

)%

 

 

1,563

 

 

(32.4

)%

Gain recognized

 

 

704

 

 

 

1,428

 

 

(50.7

)%

 

 

1,104

 

 

(36.2

)%

Gain on sale of residential property loans

 

 

 

 

 

 

 

 

 

 

Sold loan balance

 

$

 

2,079

 

 

$

 

2,636

 

 

(21.1

)%

 

$

 

2,396

 

 

(13.2

)%

Gain recognized

 

 

21

 

 

 

17

 

 

23.5

%

 

 

16

 

 

31.3

%

 

 

 

 

 

 

 

 

 

 

 

The Company maintained SBA loans held-for-sale of $14.2 million at March 31, 2020 compared with $1.2 million at December 31, 2019 and $3.9 million at March 31, 2019.

Gain on Sale of Securities Available-For-Sale. The Company sold securities available-for-sale of $32.8 million during the previous quarter. The Company did not sell any securities available-for-sale during the current or year-ago quarters.

Loan Servicing Income. The Company services SBA loans and certain residential property loans that are sold to the secondary market. The decreases for the current quarter compared with the previous and year-ago quarters were primarily due to an increase in servicing asset amortization from a higher prepayment speed. The following table presents information on loan servicing income for the periods indicated.

 

 

ThreeMonthsEnded

($ in thousands)

 

3/31/2020

 

12/31/2019

 

% Change

 

3/31/2019

 

% Change

Loan servicing income:

 

 

 

 

 

 

 

 

 

 

Servicing income received

 

$

 

1,158

 

 

$

 

1,159

 

 

(0.1

)%

 

$

 

1,147

 

 

1.0

%

Servicing assets amortization

 

 

(604

)

 

 

(507

)

 

19.1

%

 

 

(516

)

 

17.1

%

Loan servicing income

 

$

 

554

 

 

$

 

652

 

 

(15.0

)%

 

$

 

631

 

 

(12.2

)%

Underlying loans at end of period

 

$

 

478,748

 

 

$

 

498,616

 

 

(4.0

)%

 

$

 

505,420

 

 

(5.3

)%

 

 

 

 

 

 

 

 

 

 

 

Other Income. The increases for the current quarter compared with the previous and year-ago quarter were primarily due to a gain on disposal of premises and equipment of $31 thousand and an increase in loan related fee income.

Noninterest Expense

The following table presents the components of noninterest expense for the periods indicated:

 

 

ThreeMonthsEnded

($ in thousands)

 

3/31/2020

 

12/31/2019

 

% Change

 

3/31/2019

 

% Change

Salaries and employee benefits

 

$

 

6,551

 

 

$

 

6,016

 

 

8.9

%

 

$

 

6,622

 

 

(1.1

)%

Occupancy and equipment

 

 

1,380

 

 

 

1,417

 

 

(2.6

)%

 

 

1,313

 

 

5.1

%

Professional fees

 

 

797

 

 

 

622

 

 

28.1

%

 

 

758

 

 

5.1

%

Marketing and business promotion

 

 

179

 

 

 

501

 

 

(64.3

)%

 

 

228

 

 

(21.5

)%

Data processing

 

 

358

 

 

 

361

 

 

(0.8

)%

 

 

318

 

 

12.6

%

Director fees and expenses

 

 

221

 

 

 

189

 

 

16.9

%

 

 

189

 

 

16.9

%

Regulatory assessments

 

 

219

 

 

 

126

 

 

73.8

%

 

 

116

 

 

88.8

%

Other expenses

 

 

862

 

 

 

1,033

 

 

(16.6

)%

 

 

745

 

 

15.7

%

Total noninterest expense

 

$

 

10,567

 

 

$

 

10,265

 

 

2.9

%

 

$

 

10,289

 

 

2.7

%

 

 

 

 

 

 

 

 

 

 

 

Salaries and Employee Benefits. The increase for the current quarter compared with the previous quarter was primarily due to a reversal of bonus accrual for the previous quarter, and increases in employee group insurance and vacation accrual for the current quarter. The decrease compared with the year-ago quarter was primarily due to a decrease in bonus accrual for the current quarter, partially offset by overall increases in salaries and other employee benefits from the hiring of new experienced employees with higher salaries in order to enhance the controls and processes on Bank Secrecy Act and Anti-Money Laundering (“BSA/AML”) compliance.

Professional Fees. The increases for the current quarter compared with the previous and year-ago quarters were primarily due to increases in audit fees, partially offset by decreases in expenses related to the BSA/AML compliance enhancements.

Marketing and business promotion. The decreases for the current quarter compared with the previous and year-ago quarters were primarily due to decreases in advertisement and business development activities from the COVID-19 pandemic.

Director Fees and Expenses. The increases for the current quarter compared with the previous and year-ago quarters were primarily due to a severance payment of $45 thousand to a former director who passed away during the current quarter.

Regulatory Assessments. The increase for the current quarter compared with the previous quarter was primarily due to a small bank assessment credit from FDIC for the previous quarter. The increase compared with the year-ago quarter was primarily due to an increase in assessment rate from the BSA/AML compliance consent order.

Other Expenses. The decrease in the current quarter compared with the previous quarter was primarily due to decreases in provision for unfunded loan commitments and office expenses. The increase compared with the year-ago quarter was primarily due to increases in other loan related legal and office expenses.

Balance Sheet (Unaudited)

Loans

The following table presents a composition of total loans (includes both loans held-for-sale and loans held-for-investment, net of deferred costs (fees)) as of the dates indicated:

($ in thousands)

 

3/31/2020

 

12/31/2019

 

% Change

 

3/31/2019

 

% Change

Real estate loans:

 

 

 

 

 

 

 

 

 

 

Commercial property

 

$

 

812,484

 

 

$

 

803,014

 

 

1.2

%

 

$

 

715,488

 

 

13.6

%

Residential property

 

 

227,492

 

 

 

235,046

 

 

(3.2

)%

 

 

237,115

 

 

(4.1

)%

SBA property

 

 

125,322

 

 

 

129,837

 

 

(3.5

)%

 

 

124,751

 

 

0.5

%

Construction

 

 

19,178

 

 

 

19,164

 

 

0.1

%

 

 

19,983

 

 

(4.0

)%

Commercial and industrial loans:

 

 

 

 

 

 

 

 

 

 

Commercial term

 

 

101,943

 

 

 

103,380

 

 

(1.4

)%

 

 

103,866

 

 

(1.9

)%

Commercial lines of credit

 

 

116,873

 

 

 

111,768

 

 

4.6

%

 

 

91,068

 

 

28.3

%

SBA commercial term

 

 

24,745

 

 

 

25,332

 

 

(2.3

)%

 

 

26,347

 

 

(6.1

)%

Other consumer loans

 

 

23,001

 

 

 

23,290

 

 

(1.2

)%

 

 

24,554

 

 

(6.3

)%

Loans held-for-investment

 

 

1,451,038

 

 

 

1,450,831

 

 

%

 

 

1,343,172

 

 

8.0

%

Loans held-for-sale

 

 

16,191

 

 

 

1,975

 

 

719.8

%

 

 

3,915

 

 

313.6

%

Total loans

 

$

 

1,467,229

 

 

$

 

1,452,806

 

 

1.0

%

 

$

 

1,347,087

 

 

8.9

%

 

 

 

 

 

 

 

 

 

 

 

The increase in loans held-for-investment for the current quarter was primarily due to new funding of $63.9 million and advances on lines of credit of $37.7 million, partially offset by pay-downs and pay-offs of $99.2 million.

The increase in loans held-for-sale for the current quarter was primarily due to new funding of $26.7 million, partially offset by sales of $13.8 million.

The following table presents a composition of commitments to extend credit as of the dates indicated:

($ in thousands)

 

3/31/2020

 

12/31/2019

 

% Change

 

3/31/2019

 

% Change

Real estate loans:

 

 

 

 

 

 

 

 

 

 

Commercial property

 

$

14,393

 

 

$

15,836

 

 

(9.1

)%

 

$

14,483

 

 

(0.6

)%

Residential property

 

 

 

 

 

%

 

3

 

 

(100.0

)%

SBA property

 

421

 

 

1,405

 

 

(70.0

)%

 

2,179

 

 

(80.7

)%

Construction

 

17,761

 

 

11,557

 

 

53.7

%

 

9,720

 

 

82.7

%

Commercial and industrial loans:

 

 

 

 

 

 

 

 

 

 

Commercial term

 

1,034

 

 

1,243

 

 

(16.8

)%

 

5,405

 

 

(80.9

)%

Commercial lines of credit

 

143,228

 

 

140,690

 

 

1.8

%

 

107,868

 

 

32.8

%

SBA commercial term

 

912

 

 

762

 

 

19.7

%

 

337

 

 

170.6

%

Other consumer loans

 

38

 

 

115

 

 

(67.0

)%

 

17

 

 

123.5

%

Total commitments to extend credit

 

$

177,787

 

 

$

171,608

 

 

3.6

%

 

$

140,012

 

 

27.0

%

 

 

 

 

 

 

 

 

 

 

 

SBA Paycheck Protection Program

Since the launch of Paycheck Protection Program (“PPP”), the Company has extended 930 PPP loans totaling $104 million as of April 24, 2020 under the initial funding of the PPP. With the additional funding just announced and the SBA accepting additional applications as of April 27, 2020, the Company will continue to accept additional applications as long as funding remains available.

Credit Quality

The following table presents compositions of non-performing loans and non-performing assets as of the dates indicated:

($ in thousands)

 

3/31/2020

 

12/31/2019

 

% Change

 

3/31/2019

 

% Change

Nonaccrual loans:

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

SBA property

 

$

 

1,461

 

 

$

 

442

 

 

230.5

%

 

 

1,011

 

 

44.5

%

Commercial and industrial loans:

 

 

 

 

 

 

 

 

 

 

Commercial lines of credit

 

 

2,182

 

 

 

1,888

 

 

15.6

%

 

 

 

%

SBA commercial term

 

 

430

 

 

 

159

 

 

170.4

%

 

 

186

 

 

131.2

%

Consumer loans

 

 

10

 

 

 

48

 

 

(79.2

)%

 

 

74

 

 

(86.5

)%

Total nonaccrual loans held-for-investment

 

 

4,083

 

 

 

2,537

 

 

60.9

%

 

 

1,271

 

 

221.2

%

Loans past due 90 days or more and still accruing

 

 

 

 

287

 

 

(100.0

)%

 

 

 

%

Non-performing loans (“NPLs”)

 

 

4,083

 

 

 

2,824

 

 

44.6

%

 

 

1,271

 

 

221.2

%

Other real estate owned (“OREO”)

 

 

376

 

 

 

 

%

 

 

395

 

 

(4.8

)%

Non-performing assets (“NPAs”)

 

$

 

4,459

 

 

$

 

2,824

 

 

57.9

%

 

$

 

1,666

 

 

167.6

%

Loans past due and still accruing:

 

 

 

 

 

 

 

 

 

 

Loans past due 30 to 59 days and still accruing

 

$

 

1,584

 

 

$

 

893

 

 

77.4

%

 

$

 

950

 

 

66.7

%

Loans past due 60 to 89 days and still accruing

 

 

46

 

 

 

925

 

 

(95.0

)%

 

 

12

 

 

283.3

%

Loans past due 90 days or more and still accruing

 

 

 

 

287

 

 

(100.0

)%

 

 

 

%

Total loans past due and still accruing

 

$

 

1,630

 

 

$

 

2,105