BancShares' nonperforming assets, including nonaccrual loans
and other real estate owned, were $151.2 million or 0.57% of total loans at June 30, 2019, compared to $133.9 million or 0.53% of total loans at March 31, 2019.
Finally, our asset quality improved as nonaccrual loans
declined by $2.1 million during the quarter."
Nonperforming assets, which includes nonaccrual loans
and other real estate owned, were $49.9 million at June 30, 2019, $51.9 million at December 31, 2018 and $50.8 million at June 30, 2018.
Non-performing assets, which consist of nonaccrual loans
and foreclosed properties decreased from USD 5.1 million at December 31, 2018 to USD 4.6 million at March 31, 2019.
He added, "We are pleased with these positive trends and remain focused on enhancing the company's long-term financial prosperity." At September 30, 2018, nonaccrual loans
decreased substantially to $8,560,000 compared to $14,384,000 at September 30, 2017.
Behind the bank's eroding capital are $3.8 million in nonaccrual loans
and nearly S3 million in loans 30-89 days past due and still accruing interest.
Past due and nonaccrual loans
are low and continue to trend down, declining from 0.74 percent of total loans in 2016 to 0.69 percent in 2017.
include nonaccrual loans
, loans past due 90+ days, troubled debt
However, depressed incomes in the livestock and biofuel industries have increased the number of nonperforming loans or nonaccrual loans
. In response, lenders increased their loan loss reserves, especially agricultural banks.
decreased $788,000 and delinquent loans also decreased to 1.38% of total loans from 1.56% at December 31, 2009.
"We also saw significant movement out of our nonaccrual loans
into other real estate during the second quarter, which will allow for continued reduction in nonperformers throughout the remainder of the year."