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This excerpt taken from the NECB 10-Q filed May 15, 2009. Allowance for
Loan Losses. The allowance for loan
losses is the amount estimated by management as necessary to cover probable
credit losses in the loan portfolio at the statement of financial condition
date. The allowance is established through the provision for loan
losses, which is charged to income. Determining the amount of the
allowance for loan losses necessarily involves a high degree of
judgment. Among the material estimates required to establish the
allowance are: loss exposure at default; the amount and timing of
future cash flows on impacted loans; value of collateral; and determination of
loss factors to be applied to the various elements of the
portfolio. All of these estimates are susceptible to significant
change. Management reviews the level of the allowance on a quarterly
basis and establishes the provision for loan losses based upon an evaluation of
the portfolio, past loss experience, current economic conditions and other
factors related to the collectibility of the loan portfolio. Although
we believe that we use the best information available to establish the allowance
for loan losses, future adjustments to the allowance may be necessary if
economic conditions differ substantially from the assumptions used in making the
evaluation. In addition, the Office of Thrift Supervision, as an
integral part of its examination process, periodically reviews our allowance for
loan losses. The Office of Thrift Supervision could require us to
recognize adjustments to the allowance based on its judgments about information
available to it at the time of its examination. A large loss could
deplete the allowance and require increased provisions to replenish the
allowance, which would negatively affect earnings. For additional
discussion, see note 1 of the notes to the consolidated financial statements
included in the Company’s annual report on Form 10-K for 2008.
These excerpts taken from the NECB 10-K filed Mar 31, 2009. Allowance for
Loan Losses. The allowance for loan
losses is a valuation allowance for losses inherent in the loan
portfolio. We evaluate the need to establish allowances against
losses on loans on a quarterly basis. When additional allowances are
necessary, a provision for loan losses is charged to earnings.
Allowance for
Loan Losses. The allowance for loan
losses is a valuation allowance for losses inherent in the loan
portfolio. We evaluate the need to establish allowances against
losses on loans on a quarterly basis. When additional allowances are
necessary, a provision for loan losses is charged to earnings.
Allowance for
Loan Losses. The allowance for loan
losses is the amount estimated by management as necessary to cover probable
credit losses in the loan portfolio at the statement of financial condition
date. The allowance is established through the provision for loan
losses, which is charged to income. Determining the amount of the
allowance for loan losses necessarily involves a high degree of
judgment. Among the material estimates required to establish the
allowance are: loss exposure at default; the amount and timing of
future cash flows on impacted loans; value of collateral; and determination of
loss factors to be applied to the various elements of the
portfolio. All of these estimates are susceptible to significant
change. Management reviews the level of the allowance on a quarterly
basis and establishes the provision for loan losses based upon an evaluation of
the portfolio, past loss experience, current economic conditions and other
factors related to the collectibility of the loan portfolio.
Although
we believe that we use the best information available to establish the allowance
for loan losses, future adjustments to the allowance may be necessary if
economic conditions differ substantially from the assumptions used in making the
evaluation. In addition, the Office of Thrift Supervision, as an
integral part of its examination process, periodically reviews our allowance for
loan losses. The Office of Thrift Supervision could require us to
recognize adjustments to the allowance based on its judgments about information
available to it at the time of its examination. A large loss could
deplete the allowance and require increased provisions to replenish the
allowance, which would negatively affect earnings. For additional
discussion, see note 1 of the notes to the consolidated financial statements
included elsewhere in this filing.
Allowance for
Loan Losses. The allowance for loan
losses is the amount estimated by management as necessary to cover probable
credit losses in the loan portfolio at the statement of financial condition
date. The allowance is established through the provision for loan
losses, which is charged to income. Determining the amount of the
allowance for loan losses necessarily involves a high degree of
judgment. Among the material estimates required to establish the
allowance are: loss exposure at default; the amount and timing of
future cash flows on impacted loans; value of collateral; and determination of
loss factors to be applied to the various elements of the
portfolio. All of these estimates are susceptible to significant
change. Management reviews the level of the allowance on a quarterly
basis and establishes the provision for loan losses based upon an evaluation of
the portfolio, past loss experience, current economic conditions and other
factors related to the collectibility of the loan portfolio.
Although
we believe that we use the best information available to establish the allowance
for loan losses, future adjustments to the allowance may be necessary if
economic conditions differ substantially from the assumptions used in making the
evaluation. In addition, the Office of Thrift Supervision, as an
integral part of its examination process, periodically reviews our allowance for
loan losses. The Office of Thrift Supervision could require us to
recognize adjustments to the allowance based on its judgments about information
available to it at the time of its examination. A large loss could
deplete the allowance and require increased provisions to replenish the
allowance, which would negatively affect earnings. For additional
discussion, see note 1 of the notes to the consolidated financial statements
included elsewhere in this filing.
Allowance for Loan Losses. The allowance for loan losses is a valuation allowance for losses inherent in the loan portfolio. We evaluate the need to establish allowances against losses on loans on a quarterly basis. When additional allowances are necessary, a provision for loan losses is charged to earnings. Allowance for Loan Losses. The allowance for loan losses is a valuation allowance for losses inherent in the loan portfolio. We evaluate the need to establish allowances against losses on loans on a quarterly basis. When additional allowances are necessary, a provision for loan losses is charged to earnings. Allowance for Loan Losses. The allowance for loan losses is a valuation allowance for losses inherent in the loan portfolio. We evaluate the need to establish allowances against losses on loans on a quarterly basis. When additional allowances are necessary, a provision for loan losses is charged to earnings. Allowance for Loan Losses. The allowance for loan losses is the amount estimated by management as necessary to cover probable credit losses in the loan portfolio at the statement of financial condition date. The allowance is established through the provision for loan losses, which is charged to income. Determining the amount of the allowance for loan losses necessarily involves a high degree of judgment. Among the material estimates required to establish the allowance are: loss exposure at default; the amount and timing of future cash flows on impacted loans; value of collateral; and determination of loss factors to be applied to the various elements of the portfolio. All of these estimates are susceptible to significant change. Management reviews the level of the allowance on a quarterly basis and establishes the provision for loan losses based upon an evaluation of the portfolio, past loss experience, current economic conditions and other factors related to the collectibility of the loan portfolio. Although we believe that we use the best information available to establish the allowance for loan losses, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions used in making the evaluation. In addition, the Office of Thrift Supervision, as an integral part of its examination process, periodically reviews our allowance for loan losses. The Office of Thrift Supervision could require us to recognize adjustments to the allowance based on its judgments about information available to it at the time of its examination. A large loss could deplete the allowance and require increased provisions to replenish the allowance, which would negatively affect earnings. For additional discussion, see note 1 of the notes to the consolidated financial statements included elsewhere in this filing. Allowance for Loan Losses. The allowance for loan losses is the amount estimated by management as necessary to cover probable credit losses in the loan portfolio at the statement of financial condition date. The allowance is established through the provision for loan losses, which is charged to income. Determining the amount of the allowance for loan losses necessarily involves a high degree of judgment. Among the material estimates required to establish the allowance are: loss exposure at default; the amount and timing of future cash flows on impacted loans; value of collateral; and determination of loss factors to be applied to the various elements of the portfolio. All of these estimates are susceptible to significant change. Management reviews the level of the allowance on a quarterly basis and establishes the provision for loan losses based upon an evaluation of the portfolio, past loss experience, current economic conditions and other factors related to the collectibility of the loan portfolio. Although we believe that we use the best information available to establish the allowance for loan losses, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions used in making the evaluation. In addition, the Office of Thrift Supervision, as an integral part of its examination process, periodically reviews our allowance for loan losses. The Office of Thrift Supervision could require us to recognize adjustments to the allowance based on its judgments about information available to it at the time of its examination. A large loss could deplete the allowance and require increased provisions to replenish the allowance, which would negatively affect earnings. For additional discussion, see note 1 of the notes to the consolidated financial statements included elsewhere in this filing. Allowance for Loan Losses. The allowance for loan losses is the amount estimated by management as necessary to cover probable credit losses in the loan portfolio at the statement of financial condition date. The allowance is established through the provision for loan losses, which is charged to income. Determining the amount of the allowance for loan losses necessarily involves a high degree of judgment. Among the material estimates required to establish the allowance are: loss exposure at default; the amount and timing of future cash flows on impacted loans; value of collateral; and determination of loss factors to be applied to the various elements of the portfolio. All of these estimates are susceptible to significant change. Management reviews the level of the allowance on a quarterly basis and establishes the provision for loan losses based upon an evaluation of the portfolio, past loss experience, current economic conditions and other factors related to the collectibility of the loan portfolio. Although we believe that we use the best information available to establish the allowance for loan losses, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions used in making the evaluation. In addition, the Office of Thrift Supervision, as an integral part of its examination process, periodically reviews our allowance for loan losses. The Office of Thrift Supervision could require us to recognize adjustments to the allowance based on its judgments about information available to it at the time of its examination. A large loss could deplete the allowance and require increased provisions to replenish the allowance, which would negatively affect earnings. For additional discussion, see note 1 of the notes to the consolidated financial statements included elsewhere in this filing. This excerpt taken from the NECB 10-Q filed Nov 14, 2008. Allowance for
Loan Losses. The allowance for loan
losses is the amount estimated by management as necessary to cover probable
credit losses in the loan portfolio at the statement of financial condition
date. The allowance is established through the provision for loan
losses, which is charged to income. Determining the amount of the
allowance for loan losses necessarily involves a high degree of
judgment. Among the material estimates required to establish the
allowance are: loss exposure at default; the amount and timing of
future cash flows on impacted loans; value of collateral; and determination of
loss factors to be applied to the various elements of the
portfolio. All of these estimates are susceptible to significant
change. Management reviews the level of the allowance on a quarterly
basis and establishes the provision for loan losses based upon an evaluation of
the portfolio, past loss experience, current economic conditions and other
factors related to the collectibility of the loan portfolio. Although
we believe that we use the best information available to establish the allowance
for loan losses, future adjustments to the allowance may be necessary if
economic conditions differ substantially from the assumptions used in making the
evaluation. In addition, the Office of Thrift Supervision, as an
integral part of its examination process, periodically reviews our allowance for
loan losses. The Office of Thrift Supervision could require us to
recognize adjustments to the allowance based on its judgments about information
available to it at the time of its examination. A large loss could
deplete the allowance and require increased provisions to replenish the
allowance, which would negatively affect earnings. For additional
discussion, see note 1 of the notes to the consolidated financial statements
included elsewhere in this filing.
These excerpts taken from the NECB 10-K filed Mar 31, 2008. Allowance for
Loan Losses. The allowance for loan
losses is the amount estimated by management as necessary to cover probable
credit losses in the loan portfolio at the statement of financial condition
date. The allowance is established through the provision for loan
losses, which is charged to income. Determining the amount of the
allowance for loan losses necessarily involves a high degree of
judgment. Among the material estimates required to establish the
allowance are: loss exposure at default; the amount and timing of
future cash flows on impacted loans; value of collateral; and determination of
loss factors to be applied to the various elements of the
portfolio. All of these estimates are susceptible to significant
change. Management reviews the level of the allowance on a quarterly
basis and establishes the provision for loan losses based upon an evaluation of
the portfolio, past loss experience, current economic conditions and other
factors related to the collectibility of the loan portfolio. Although
we believe that we use the best information available to establish the allowance
for loan losses, future adjustments to the allowance may be necessary if
economic conditions differ substantially from the assumptions used in making the
evaluation. In addition, the Office of Thrift Supervision, as an
integral part of its
examination
process, periodically reviews our allowance for loan losses. The
Office of Thrift Supervision could require us to recognize adjustments to the
allowance based on its judgments about information available to it at the time
of its examination. A large loss could deplete the allowance and
require increased provisions to replenish the allowance, which would negatively
affect earnings. For additional discussion, see note 1 of the notes
to the consolidated financial statements included elsewhere in this
filing.
Allowance for Loan Losses. The allowance for loan losses is the amount estimated by management as necessary to cover probable credit losses in the loan portfolio at the statement of financial condition date. The allowance is established through the provision for loan losses, which is charged to income. Determining the amount of the allowance for loan losses necessarily involves a high degree of judgment. Among the material estimates required to establish the allowance are: loss exposure at default; the amount and timing of future cash flows on impacted loans; value of collateral; and determination of loss factors to be applied to the various elements of the portfolio. All of these estimates are susceptible to significant change. Management reviews the level of the allowance on a quarterly basis and establishes the provision for loan losses based upon an evaluation of the portfolio, past loss experience, current economic conditions and other factors related to the collectibility of the loan portfolio. Although we believe that we use the best information available to establish the allowance for loan losses, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions used in making the evaluation. In addition, the Office of Thrift Supervision, as an integral part of its examination process, periodically reviews our allowance for loan losses. The Office of Thrift Supervision could require us to recognize adjustments to the allowance based on its judgments about information available to it at the time of its examination. A large loss could deplete the allowance and require increased provisions to replenish the allowance, which would negatively affect earnings. For additional discussion, see note 1 of the notes to the consolidated financial statements included elsewhere in this filing. | EXCERPTS ON THIS PAGE:
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