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These excerpts taken from the NECB 10-K filed Mar 31, 2009. Provision for
Loan Losses. In 2008, a $411,000 provision was made to the
allowance for loan losses due primarily to the increase in mortgage loan
balances outstanding. The effect of the provision for loan losses was
partially offset by a charge-off of $35,000 on a mixed-use mortgage loan that
was subsequently foreclosed and sold during 2008. In 2007, a $338,000
provision was made to the allowance for loan losses due primarily to an increase
in mortgage loan balances outstanding. The effect of the provision
for loan losses was partially offset by a charge-off of $49,000 on a mixed-use
mortgage loan that was subsequently foreclosed and sold during
2007. The allowance for loan losses as of December 31, 2008
represented 0.51% of total loans, compared to 0.53% as of December 31,
2007.
There were no recoveries during the
years ended December 31, 2008 and 2007.
Provision for
Loan Losses. In 2008, a $411,000 provision was made to the
allowance for loan losses due primarily to the increase in mortgage loan
balances outstanding. The effect of the provision for loan losses was
partially offset by a charge-off of $35,000 on a mixed-use mortgage loan that
was subsequently foreclosed and sold during 2008. In 2007, a $338,000
provision was made to the allowance for loan losses due primarily to an increase
in mortgage loan balances outstanding. The effect of the provision
for loan losses was partially offset by a charge-off of $49,000 on a mixed-use
mortgage loan that was subsequently foreclosed and sold during
2007. The allowance for loan losses as of December 31, 2008
represented 0.51% of total loans, compared to 0.53% as of December 31,
2007.
There were no recoveries during the
years ended December 31, 2008 and 2007.
Provision for Loan Losses. In 2008, a $411,000 provision was made to the allowance for loan losses due primarily to the increase in mortgage loan balances outstanding. The effect of the provision for loan losses was partially offset by a charge-off of $35,000 on a mixed-use mortgage loan that was subsequently foreclosed and sold during 2008. In 2007, a $338,000 provision was made to the allowance for loan losses due primarily to an increase in mortgage loan balances outstanding. The effect of the provision for loan losses was partially offset by a charge-off of $49,000 on a mixed-use mortgage loan that was subsequently foreclosed and sold during 2007. The allowance for loan losses as of December 31, 2008 represented 0.51% of total loans, compared to 0.53% as of December 31, 2007. There were no recoveries during the years ended December 31, 2008 and 2007. Provision for Loan Losses. In 2008, a $411,000 provision was made to the allowance for loan losses due primarily to the increase in mortgage loan balances outstanding. The effect of the provision for loan losses was partially offset by a charge-off of $35,000 on a mixed-use mortgage loan that was subsequently foreclosed and sold during 2008. In 2007, a $338,000 provision was made to the allowance for loan losses due primarily to an increase in mortgage loan balances outstanding. The effect of the provision for loan losses was partially offset by a charge-off of $49,000 on a mixed-use mortgage loan that was subsequently foreclosed and sold during 2007. The allowance for loan losses as of December 31, 2008 represented 0.51% of total loans, compared to 0.53% as of December 31, 2007. There were no recoveries during the years ended December 31, 2008 and 2007. Provision for Loan Losses. In 2008, a $411,000 provision was made to the allowance for loan losses due primarily to the increase in mortgage loan balances outstanding. The effect of the provision for loan losses was partially offset by a charge-off of $35,000 on a mixed-use mortgage loan that was subsequently foreclosed and sold during 2008. In 2007, a $338,000 provision was made to the allowance for loan losses due primarily to an increase in mortgage loan balances outstanding. The effect of the provision for loan losses was partially offset by a charge-off of $49,000 on a mixed-use mortgage loan that was subsequently foreclosed and sold during 2007. The allowance for loan losses as of December 31, 2008 represented 0.51% of total loans, compared to 0.53% as of December 31, 2007. There were no recoveries during the years ended December 31, 2008 and 2007. This excerpt taken from the NECB 10-Q filed Nov 14, 2008. Provision
for Loan Losses. The following table summarizes the activity
in the allowance for loan losses and provision for loan losses for the Nine
months ended September 30, 2008 and 2007.
We recorded provisions for loan losses
of $226,000 and $338,000 during the nine month periods ended September 30, 2008
and 2007, respectively, due primarily to the growth of the Bank’s loan
portfolio, an increase in nonperforming loans and a general weakening in the
economy throughout our lending territory. There were no charge-offs
during the nine months ended September 30, 2008. We incurred a
charge-off of $49,000 on a multi-family mortgage loan that was subsequently
foreclosed and sold as real estate owned during the nine months ended September
30, 2007. See also “Nonperforming Assets.”
There were no recoveries during the
nine month periods ended September 30, 2008 and 2007, respectively.
This excerpt taken from the NECB 10-Q filed Aug 14, 2008. Provision for
Loan Losses. The following table summarizes the activity in
the allowance for loan losses and provision for loan losses for the six months
ended June 30, 2008 and 2007.
We recorded provisions for loan losses
of $79,000 and $338,000 during the six-month periods ended June 30, 2008 and
2007, respectively. There were no charge-offs or recoveries during
the six months ended June 30, 2008 and 2007.
These excerpts taken from the NECB 10-K filed Mar 31, 2008. Provision for
Loan Losses. In 2007, a $338,000 provision was made to the
allowance for loan losses due primarily to the increase in mortgage loan
balances outstanding. The effect of the provision for loan losses was
partially offset by a charge-off of $49,000 on a mixed-use mortgage loan that
was subsequently foreclosed and sold during 2007. The allowance for
loan losses as of December 31, 2007 represented 0.53% of total loans, compared
to 0.60% as of December 31, 2006.
There
were no recoveries during the year ended December 31, 2007, and there were no
recoveries, charge-offs or provisions for loan losses during the year ended
December 31, 2006.
Provision for Loan Losses. In 2007, a $338,000 provision was made to the allowance for loan losses due primarily to the increase in mortgage loan balances outstanding. The effect of the provision for loan losses was partially offset by a charge-off of $49,000 on a mixed-use mortgage loan that was subsequently foreclosed and sold during 2007. The allowance for loan losses as of December 31, 2007 represented 0.53% of total loans, compared to 0.60% as of December 31, 2006. There were no recoveries during the year ended December 31, 2007, and there were no recoveries, charge-offs or provisions for loan losses during the year ended December 31, 2006. | EXCERPTS ON THIS PAGE:
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