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Credit quality is reflected in the percentage of non-accrual loans to total loans at 0.
Also impacting loan yields in both 2015 and 2014 was non-recurring interest income, which is comprised primarily of penalties and accelerated fee recognition on loan prepayments as well as interest recoveries on non-accrual loans (net of interest reversals for loans placed on non-accrual status).
Moreover, non-accrual loans have now come down to 0.
Non-accrual loans at June 30, 2011, stood at $50,000, or 0.
In addition to provision expense, we have spent considerable sums of money relating to the administration and resolution of problem assets, forgone interest income on non-accrual loans and foreclosed properties and have allocated vast amounts of staff time to workouts and reporting.
In addition, the compression of the net interest margin due to the flat yield curve and competitive pressures, combined with an increase in our non-accrual loans, all had a negative impact on our profits during our first quarter.
Specifically, accounting inconsistencies relate to (1) how and where initial and subsequent fair value adjustments are recorded and (2) the reporting of past-due and non-accrual loans that have been designated as held for sale.
As of December 31, 2012, Non-accrual loans totaled $3.
This is due to a decrease in non-accrual loans and other real estate owned offset partly by increases in loans 90 days or more past due and still accruing interest.
In addition, the ratio of the valuation reserve to non-accrual loans increased to 102.
0 million collected on non-accrual loans that were paid off during the quarter.
As of June 30, 2014, the loan had a remaining balance of USD 814,000 and was included in the company's non-accrual loans as of the same date.
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