Nonaccrual Loan

Nonaccrual Loan

A loan on which the lender is not generating the expected interest rate due to non-payment. A loan is classified as nonaccrual if no principal or interest has been paid in 90 days. A nonaccrual loan is rather likely to default
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The net interest income for the twelve-month period in 2016 included approximately $919 thousand of recovered interest income on a previous nonaccrual loan, which resulted in approximately 9 basis points of additional net interest margin.
Generally, federal banking rules also require X to apply any payment received on a nonaccrual loan receivable as a reduction to its recorded investment in the loan, to the extent necessary to eliminate the doubt of uncollectibility.
The nonaccrual loan total at First Federal declined from $33.
The bank did have one nonaccrual loan which totaled $1,194,000 at March 31, 2010.
8 million of nonaccrual interest from the full repayment of a nonaccrual loan.
The increase in the net interest spread was also impacted by the recognition of interest income on a large nonaccrual loan that was reinstated to accrual status during the fourth quarter of 2009 due to an improvement in borrower's repayment capacity.
The Company continues to take various steps to resolve its nonaccrual loans, including proceeding with foreclosures on many of the collateral properties, working with certain borrowers to provide payment relief and, in limited cases, accepting partial payment as full satisfaction of a nonaccrual loan.
The Company is taking various steps to resolve its nonaccrual loans, including proceeding with foreclosures on many of the collateral properties, working with certain borrowers to provide payment relief and, in limited cases, accepting partial payment as full satisfaction of a nonaccrual loan.
61% at December 31, 2016 and total nonaccrual loans decreased by $15M, or 19.
The Bank also continues to have excellent credit quality in its loan portfolio, as it had no nonaccrual loans at September 30, 2017.
Year-on-year, the company registered strong credit quality-related metrics, with nonaccrual loans and loans due for over 30 plus days decreasing from USD2.