What changes regulators will make to the
non-accrual loan classification requirements, in the wake of Statement no.
The continued losses are fueled by a string of quarterly additions to the bank's
non-accrual loan total: $9.6 million in the first quarter of 2011, $10.6 million in the second quarter, $10 million in the third, nearly $9.8 million in the fourth quarter and more than $2.5 million during the first three months of 2012.
Partially offsetting these expenses was a recovery of USD 1.0m in interest from the payoff of a
non-accrual loan.
Consumer
non-accrual loans declined 16% to $2.4 billion and corporate
non-accrual loans decreased 23% to $1.6 billion.
Consumer
non-accrual loans declined 7% to $2.2B and corporate
non-accrual loans declined 13% to $1.4B.
Asset quality remains strong with total
non-accrual loans to total loans at 0.6% compared to 0.7% as of December 31, 2018.
Since September 30, 2018, real estate owned decreased by $4 million, or 33%, and
non-accrual loans decreased by $7 million, or 12%.
"Our results for the third quarter reflected significant improvement in
non-accrual loans and modest net interest margin expansion," said Chevis C.
"Credit quality remains very strong as net loan charge-offs remained low,
non-accrual loans declined and overall delinquencies have improved," said John W.
Heartland Bank charged off $5.7 million in bad loans and recorded
non-accrual loans of $28.9 million and $7 million in loans 30-89 days past due during the first quarter.
While
non-accrual loans increased to 2.9% and 3.2% of total loans in 2009
Consumer loans that were 90+ days delinquent, excluding the Special Asset Pool (SAP), fell 46 per cent versus the prior year period to $9.9 billion, or 2.3 per cent of consumer loans, while corporate
non-accrual loans fell 56 per cent to $4.8 billion and consumer
non-accrual loans fell 39 per cent to $8.4 billion.
