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Loan Loss Provision |
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Loan Loss Provision An expense set aside as an allowance for bad loans (customer defaults, or terms of a loan have to be renegotiated, etc). Notes: This would be a bank's equivalent of a manufacturing company's allowance for returns on goods sold.
Also know as a valuation allowance or valuation reserve. |
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? Mentioned in | ? References in periodicals archive | |
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| The loan loss provision recorded in fourth quarter of 2006 and the loan balances charged off in the period are primarily the result of an independent review of the loan portfolio which began in the third quarter of 2006. The loan loss provision recorded in third quarter of 2006 and the loan balances charged off in the period are a result of an on-going review of the loan portfolio started in the third quarter to further identify the risk inherent in the portfolio, to provide for this risk with an appropriate reserve for loan losses and to recognize potential losses. The loan loss provision for the third quarter includes $123,000 for the nearly $16 million in loan growth during the third quarter and $112,000 to increase the allowance percentage on residential investment properties to reflect the softness in the local real estate market. |
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Loan Loss Provision