Exhibit 99.2
FULTON FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (UNAUDITED)
Quarter Ended March 31 | Variance | ||||||||||||
2004 | 2003 | $ | % | ||||||||||
(in thousands, except per-share data) | |||||||||||||
INCOME SUMMARY: | |||||||||||||
Interest income | $ | 113,936 | $ | 110,184 | $ | 3,752 | 3.4 | % | |||||
Interest expense | 30,969 | 34,546 | (3,577 | ) | -10.4 | % | |||||||
Net Interest Income | 82,967 | 75,638 | 7,329 | 9.7 | % | ||||||||
Provision for loan losses | 1,740 | 2,835 | (1,095 | ) | -38.6 | % | |||||||
Investment securities gains | 5,828 | 2,229 | 3,599 | 161.5 | % | ||||||||
Other income | 26,415 | 29,436 | (3,021 | ) | -10.3 | % | |||||||
Other expenses | 62,477 | 55,882 | 6,595 | 11.8 | % | ||||||||
Income Before Income Taxes | 50,993 | 48,586 | 2,407 | 5.0 | % | ||||||||
Income taxes | 15,147 | 14,543 | 604 | 4.2 | % | ||||||||
Net Income | $ | 35,846 | $ | 34,043 | $ | 1,803 | 5.3 | % | |||||
Fully taxable equivalent (FTE) net interest income | $ | 85,313 | $ | 78,062 | $ | 7,251 | 9.3 | % | |||||
PER-SHARE DATA: | |||||||||||||
Net Income: | |||||||||||||
Basic | $ | 0.33 | $ | 0.32 | $ | 0.01 | 3.1 | % | |||||
Diluted | 0.33 | 0.32 | 0.01 | 3.1 | % | ||||||||
Cash Dividends | 0.160 | 0.143 | 0.017 | 11.9 | % | ||||||||
ENDING BALANCES: | |||||||||||||
Total assets | $ | 9,620,191 | $ | 8,430,330 | $ | 1,189,861 | 14.1 | % | |||||
Loans, net of unearned income | 6,217,077 | 5,289,036 | 928,041 | 17.5 | % | ||||||||
Deposits | 6,784,175 | 6,344,568 | 439,607 | 6.9 | % | ||||||||
Short-term borrowings | 1,182,473 | 507,907 | 674,566 | 132.8 | % | ||||||||
Long-term debt | 571,964 | 535,210 | 36,754 | 6.9 | % | ||||||||
Shareholders' equity | 968,449 | 864,119 | 104,330 | 12.1 | % | ||||||||
AVERAGE BALANCES: | |||||||||||||
Total assets | $ | 9,676,495 | $ | 8,281,576 | $ | 1,394,919 | 16.8 | % | |||||
Loans, net of unearned income | 6,187,988 | 5,346,978 | 841,010 | 15.7 | % | ||||||||
Deposits | 6,718,059 | 6,168,891 | 549,168 | 8.9 | % | ||||||||
Short-term borrowings | 1,345,285 | 611,447 | 733,838 | 120.0 | % | ||||||||
Long-term debt | 570,075 | 540,906 | 29,169 | 5.4 | % | ||||||||
Shareholders' equity | 949,725 | 864,642 | 85,083 | 9.8 | % |
FULTON FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (UNAUDITED)
Quarter Ended | Variance | ||||||||||||
March 31 2004 | December 31 2003 | $ | % | ||||||||||
(in thousands, except per-share data) | |||||||||||||
INCOME SUMMARY: | |||||||||||||
Interest income | $ | 113,936 | $ | 112,274 | $ | 1,662 | 1.5 | % | |||||
Interest expense | 30,969 | 31,624 | (655 | ) | -2.1 | % | |||||||
Net Interest Income | 82,967 | 80,650 | 2,317 | 2.9 | % | ||||||||
Provision for loan losses | 1,740 | 2,190 | (450 | ) | -20.5 | % | |||||||
Investment securities gains | 5,828 | 5,825 | 3 | 0.1 | % | ||||||||
Other income | 26,415 | 27,450 | (1,035 | ) | -3.8 | % | |||||||
Other expenses | 62,477 | 60,679 | 1,798 | 3.0 | % | ||||||||
Income Before Income Taxes | 50,993 | 51,056 | (63 | ) | -0.1 | % | |||||||
Income taxes | 15,147 | 15,363 | (216 | ) | -1.4 | % | |||||||
Net Income | $ | 35,846 | $ | 35,693 | $ | 153 | 0.4 | % | |||||
Fully taxable equivalent (FTE) net interest income | $ | 85,313 | $ | 83,056 | $ | 2,257 | 2.7 | % | |||||
PER-SHARE DATA: | |||||||||||||
Net Income: | |||||||||||||
Basic | $ | 0.33 | $ | 0.33 | $ | — | 0.0 | % | |||||
Diluted | 0.33 | 0.33 | — | 0.0 | % | ||||||||
Cash Dividends | 0.160 | 0.160 | — | 0.0 | % | ||||||||
ENDING BALANCES: | |||||||||||||
Total assets | $ | 9,620,191 | $ | 9,767,288 | $ | (147,097 | ) | -1.5 | % | ||||
Loans, net of unearned income | 6,217,077 | 6,159,994 | 57,083 | 0.9 | % | ||||||||
Deposits | 6,784,175 | 6,751,783 | 32,392 | 0.5 | % | ||||||||
Short-term borrowings | 1,182,473 | 1,396,711 | (214,238 | ) | -15.3 | % | |||||||
Long-term debt | 571,964 | 568,730 | 3,234 | 0.6 | % | ||||||||
Shareholders' equity | 968,449 | 946,936 | 21,513 | 2.3 | % | ||||||||
AVERAGE BALANCES: | |||||||||||||
Total assets | $ | 9,676,495 | $ | 9,472,010 | $ | 204,485 | 2.2 | % | |||||
Loans, net of unearned income | 6,187,988 | 5,935,683 | 252,305 | 4.3 | % | ||||||||
Deposits | 6,718,059 | 6,814,421 | (96,362 | ) | -1.4 | % | |||||||
Short-term borrowings | 1,345,285 | 1,046,485 | 298,800 | 28.6 | % | ||||||||
Long-term debt | 570,075 | 588,125 | (18,050 | ) | -3.1 | % | |||||||
Shareholders' equity | 949,725 | 924,348 | 25,377 | 2.7 | % |
FULTON FINANCIAL CORPORATION
CONSOLIDATED ENDING BALANCE SHEET (UNAUDITED)
March 31 | ||||||||
2004 | 2003 | |||||||
(in thousands) | ||||||||
ASSETS | ||||||||
Cash and due from banks | $ | 308,269 | $ | 348,229 | ||||
Interest-bearing deposits | 3,949 | 10,903 | ||||||
Mortgage loans held for sale | 28,818 | 79,956 | ||||||
Investment securities | 2,713,791 | 2,441,341 | ||||||
Loans, net of unearned income | 6,217,077 | 5,289,036 | ||||||
Less: Allowance for loan losses | (78,271 | ) | (71,786 | ) | ||||
Net Loans | 6,138,806 | 5,217,250 | ||||||
Premises and equipment | 120,372 | 121,873 | ||||||
Accrued interest receivable | 32,828 | 40,704 | ||||||
Goodwill | 129,332 | 61,048 | ||||||
Other assets | 144,026 | 109,026 | ||||||
Total Assets | $ | 9,620,191 | $ | 8,430,330 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
Deposits: | ||||||||
Noninterest bearing | $ | 1,328,266 | $ | 1,238,087 | ||||
Interest-bearing | 5,455,909 | 5,106,481 | ||||||
Total Deposits | 6,784,175 | 6,344,568 | ||||||
Short-term borrowings: | ||||||||
Federal funds purchased | 550,100 | 180,000 | ||||||
Other short-term borrowings | 632,373 | 327,907 | ||||||
Total Short-Term Borrowings | 1,182,473 | 507,907 | ||||||
Accrued interest payable | 24,911 | 27,046 | ||||||
Other liabilities | 88,219 | 145,980 | ||||||
Long-term debt | 571,964 | 535,210 | ||||||
Corporation-obligated mandatorily redeemable capital securities of subsidiary trust | — | 5,500 | ||||||
Total Liabilities | 8,651,742 | 7,566,211 | ||||||
Shareholders' equity: | ||||||||
Common stock | 284,480 | 272,940 | ||||||
Capital surplus | 631,638 | 565,042 | ||||||
Retained earnings | 135,894 | 58,948 | ||||||
Accumulated other comprehensive income | 16,445 | 27,479 | ||||||
Less: Treasury stock, at cost | (100,008 | ) | (60,290 | ) | ||||
Total Shareholders' Equity | 968,449 | 864,119 | ||||||
Total Liabilities and Shareholders' Equity | $ | 9,620,191 | $ | 8,430,330 | ||||
LOANS AND DEPOSITS DETAIL: | ||||||||
Loans, by type: | ||||||||
Commercial, financial and agricultural | $ | 1,960,615 | $ | 1,710,323 | ||||
Real estate - construction | 289,271 | 241,861 | ||||||
Real estate - residential mortgage | 1,350,934 | 1,170,664 | ||||||
Real estate - commercial mortgage | 2,042,234 | 1,570,509 | ||||||
Consumer | 508,518 | 521,281 | ||||||
Leasing and other | 65,505 | 74,398 | ||||||
Total Loans, net of unearned income | $ | 6,217,077 | $ | 5,289,036 | ||||
Deposits, by type: | ||||||||
Noninterest-bearing demand | $ | 1,328,266 | $ | 1,238,087 | ||||
Interest-bearing demand | 1,269,315 | 1,063,726 | ||||||
Savings deposits | 1,771,865 | 1,561,818 | ||||||
Time deposits | 2,414,729 | 2,480,937 | ||||||
Total Deposits | $ | 6,784,175 | $ | 6,344,568 | ||||
FULTON FINANCIAL CORPORATION
CONSOLIDATED INCOME STATEMENT (UNAUDITED)
Quarter Ended March 31 | ||||||
2004 | 2003 | |||||
(in thousands) | ||||||
Interest Income: | ||||||
Loans, including fees | $ | 88,466 | $ | 85,112 | ||
Investment securities: | ||||||
Taxable | 21,736 | 20,734 | ||||
Tax-exempt | 2,533 | 2,520 | ||||
Dividends | 952 | 1,148 | ||||
Other interest income | 249 | 670 | ||||
Total Interest Income | 113,936 | 110,184 | ||||
Interest Expense: | ||||||
Deposits | 20,350 | 25,707 | ||||
Short-term borrowings | 3,327 | 1,753 | ||||
Long-term debt | 7,292 | 7,086 | ||||
Total Interest Expense | 30,969 | 34,546 | ||||
Net Interest Income | 82,967 | 75,638 | ||||
Provision for Loan Losses | 1,740 | 2,835 | ||||
Net Interest Income after Provision | 81,227 | 72,803 | ||||
Other Income: | ||||||
Investment management & trust services | 8,645 | 8,343 | ||||
Service charges on deposit accounts | 9,505 | 9,216 | ||||
Other service charges and fees | 5,026 | 4,586 | ||||
Mortgage banking income | 2,056 | 5,951 | ||||
Investment securities gains | 5,828 | 2,229 | ||||
Other | 1,183 | 1,340 | ||||
Total Other Income | 32,243 | 31,665 | ||||
Other Expenses: | ||||||
Salaries and employee benefits | 36,963 | 33,320 | ||||
Net occupancy expense | 5,518 | 5,080 | ||||
Equipment expense | 2,641 | 2,680 | ||||
Data processing | 2,819 | 2,864 | ||||
Advertising | 1,528 | 1,232 | ||||
Intangible amortization | 991 | 359 | ||||
Other | 12,017 | 10,347 | ||||
Total Other Expenses | 62,477 | 55,882 | ||||
Income Before Income Taxes | 50,993 | 48,586 | ||||
Income Taxes | 15,147 | 14,543 | ||||
Net Income | $ | 35,846 | $ | 34,043 | ||
FULTON FINANCIAL CORPORATION
PER-SHARE INFORMATION AND SELECTED FINANCIAL RATIOS (UNAUDITED)
Quarter Ended March 31 | ||||||||
2004 | 2003 | |||||||
PER-SHARE INFORMATION: | ||||||||
Net income: | ||||||||
Basic | $ | 0.33 | $ | 0.32 | ||||
Diluted | 0.33 | 0.32 | ||||||
Cash Dividends | $ | 0.160 | $ | 0.143 | ||||
Book Value | 8.94 | 8.18 | ||||||
Tangible Book Value | 7.57 | 7.50 | ||||||
Weighted average shares (basic) | 108,277 | 105,922 | ||||||
Weighted average shares (diluted) | 109,220 | 106,635 | ||||||
Shares outstanding, end of period | 108,322 | 105,598 | ||||||
FINANCIAL RATIOS: | ||||||||
Return on Average Assets | 1.49 | % | 1.67 | % | ||||
Return on Average Equity | 15.18 | % | 15.97 | % | ||||
Net Interest Margin | 3.79 | % | 4.06 | % | ||||
Efficiency Ratio | 55.0 | % | 51.7 | % | ||||
Average Equity to Average Assets | 9.8 | % | 10.4 | % |
FULTON FINANCIAL CORPORATION
CONSOLIDATED AVERAGE BALANCE SHEET (UNAUDITED)
Quarter Ended March 31 | ||||||||
2004 | 2003 | |||||||
(In thousands) | ||||||||
ASSETS | ||||||||
Interest-earning assets: | ||||||||
Loans and leases | $ | 6,187,988 | $ | 5,346,978 | ||||
Taxable investment securities | 2,402,420 | 1,959,040 | ||||||
Tax-exempt investment securities | 276,143 | 241,180 | ||||||
Equity securities | 131,553 | 133,300 | ||||||
Short-term investments | 18,953 | 54,996 | ||||||
Total Interest-Earning Assets | 9,017,057 | 7,735,494 | ||||||
Non-interest earning assets: | ||||||||
Cash and due from banks | 300,789 | 257,553 | ||||||
Premises and equipment | 121,428 | 123,372 | ||||||
Other assets | 315,953 | 238,129 | ||||||
Less: Allowance for loan losses | (78,732 | ) | (72,972 | ) | ||||
Total Assets | $ | 9,676,495 | $ | 8,281,576 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
Interest-bearing liabilities: | ||||||||
Demand deposits | $ | 1,268,671 | $ | 1,049,624 | ||||
Savings deposits | 1,760,105 | 1,535,872 | ||||||
Time deposits | 2,431,742 | 2,512,211 | ||||||
Total Interest-Bearing Deposits | 5,460,518 | 5,097,707 | ||||||
Short-term borrowings | 1,345,285 | 611,447 | ||||||
Long-term debt | 570,075 | 540,906 | ||||||
Total Interest-Bearing Liabilities | 7,375,878 | 6,250,060 | ||||||
Noninterest-bearing liabilities: | ||||||||
Demand deposits | 1,257,541 | 1,071,184 | ||||||
Other | 93,351 | 95,690 | ||||||
Total Liabilities | 8,726,770 | 7,416,934 | ||||||
Shareholders' equity | 949,725 | 864,642 | ||||||
Total Liabilities and Shareholders' Equity | $ | 9,676,495 | $ | 8,281,576 | ||||
AVERAGE YIELDS ON INTEREST-EARNING ASSETS: | ||||||||
Loans and leases (1) | 5.75 | % | 6.46 | % | ||||
Taxable investment securities | 3.64 | % | 4.29 | % | ||||
Tax-exempt investment securities (1) | 3.69 | % | 4.24 | % | ||||
Equity securities (1) | 2.91 | % | 3.49 | % | ||||
Short-term investments | 5.28 | % | 4.94 | % | ||||
Total Interest-Earning Assets (1) | 5.08 | % | 5.78 | % | ||||
AVERAGE COSTS OF INTEREST-BEARING LIABILITIES: | ||||||||
Demand deposits | 0.43 | % | 0.63 | % | ||||
Savings deposits | 0.57 | % | 0.76 | % | ||||
Time deposits | 2.73 | % | 3.42 | % | ||||
Short-term borrowings | 0.99 | % | 1.16 | % | ||||
Long-term debt | 5.14 | % | 5.31 | % | ||||
Total Interest-Bearing Liabilities | 1.69 | % | 2.24 | % | ||||
NET INTEREST MARGIN (FTE) | 3.79 | % | 4.06 | % | ||||
(1) | Yields are not fully-taxable equivalent (FTE). |
FULTON FINANCIAL CORPORATION
LOAN QUALITY INFORMATION (UNAUDITED)
Quarter Ended March 31 | ||||||||
2004 | 2003 | |||||||
(in thousands) | ||||||||
Gross Charge-offs | $ | 2,689 | $ | 3,949 | ||||
Recoveries | 1,519 | 980 | ||||||
Net Charge-offs | $ | 1,170 | $ | 2,969 | ||||
Net Charge-offs to average loans | 0.08 | % | 0.22 | % | ||||
Non-Accrual Loans | $ | 19,594 | $ | 25,686 | ||||
Accruing Loans 90+ Days Overdue | 10,758 | 10,676 | ||||||
Other Real Estate Owned | 356 | 757 | ||||||
Total Non-Performing Assets | $ | 30,708 | $ | 37,119 | ||||
Non-accrual loans to total loans | 0.32 | % | 0.49 | % | ||||
Non-performing assets to total loans and OREO | 0.49 | % | 0.70 | % | ||||
Non-performing assets to total assets | 0.32 | % | 0.44 | % | ||||
Allowance to Loans | 1.26 | % | 1.36 | % |
FULTON FINANCIAL CORPORATION
CONSOLIDATED INCOME STATEMENT (UNAUDITED)
Quarter Ended | ||||||
March 31 2004 | December 31 2003 | |||||
(in thousands) | ||||||
Interest Income: | ||||||
Loans, including fees | $ | 88,466 | $ | 86,581 | ||
Investment securities: | ||||||
Taxable | 21,736 | 21,814 | ||||
Tax-exempt | 2,533 | 2,650 | ||||
Dividends | 952 | 871 | ||||
Other interest income | 249 | 358 | ||||
Total Interest Income | 113,936 | 112,274 | ||||
Interest Expense: | ||||||
Deposits | 20,350 | 21,718 | ||||
Short-term borrowings | 3,327 | 2,413 | ||||
Long-term debt | 7,292 | 7,493 | ||||
Total Interest Expense | 30,969 | 31,624 | ||||
Net Interest Income | 82,967 | 80,650 | ||||
Provision for Loan Losses | 1,740 | 2,190 | ||||
Net Interest Income after Provision | 81,227 | 78,460 | ||||
Other Income: | ||||||
Investment management & trust services | 8,645 | 8,219 | ||||
Service charges on deposit accounts | 9,505 | 9,973 | ||||
Other service charges and fees | 5,026 | 4,784 | ||||
Mortgage banking income | 2,056 | 3,590 | ||||
Investment securities gains | 5,828 | 5,825 | ||||
Other | 1,183 | 884 | ||||
Total Other Income | 32,243 | 33,275 | ||||
Other Expenses: | ||||||
Salaries and employee benefits | 36,963 | 35,289 | ||||
Net occupancy expense | 5,518 | 5,027 | ||||
Equipment expense | 2,641 | 2,619 | ||||
Data processing | 2,819 | 3,028 | ||||
Advertising | 1,528 | 1,450 | ||||
Intangible amortization | 991 | 718 | ||||
Other | 12,017 | 12,548 | ||||
Total Other Expenses | 62,477 | 60,679 | ||||
Income Before Income Taxes | 50,993 | 51,056 | ||||
Income Taxes | 15,147 | 15,363 | ||||
Net Income | $ | 35,846 | $ | 35,693 | ||
FULTON FINANCIAL CORPORATION
PER-SHARE INFORMATION AND SELECTED FINANCIAL RATIOS (UNAUDITED)
Quarter Ended | ||||||||
March 31 2004 | December 31 2003 | |||||||
PER-SHARE INFORMATION: | ||||||||
Net income: | ||||||||
Basic | $ | 0.33 | $ | 0.33 | ||||
Diluted | 0.33 | 0.33 | ||||||
Cash Dividends | $ | 0.160 | $ | 0.160 | ||||
Book Value | 8.94 | 8.75 | ||||||
Tangible Book Value | 7.57 | 7.41 | ||||||
Weighted average shares (basic) | 108,277 | 108,434 | ||||||
Weighted average shares (diluted) | 109,220 | 109,406 | ||||||
Shares outstanding, end of period | 108,322 | 108,255 | ||||||
FINANCIAL RATIOS: | ||||||||
Return on Average Assets | 1.49 | % | 1.50 | % | ||||
Return on Average Equity | 15.18 | % | 15.32 | % | ||||
Net Interest Margin | 3.79 | % | 3.73 | % | ||||
Efficiency Ratio | 55.0 | % | 54.3 | % | ||||
Average Equity to Average Assets | 9.8 | % | 9.8 | % |
FULTON FINANCIAL CORPORATION
CONSOLIDATED AVERAGE BALANCE SHEET (UNAUDITED)
Quarter Ended | ||||||||
March 31 2004 | December 31 2003 | |||||||
(In thousands) | ||||||||
ASSETS | ||||||||
Interest-earning assets: | ||||||||
Loans and leases | $ | 6,187,988 | $ | 5,935,683 | ||||
Taxable investment securities | 2,402,420 | 2,455,589 | ||||||
Tax-exempt investment securities | 276,143 | 284,705 | ||||||
Equity securities | 131,553 | 128,660 | ||||||
Short-term investments | 18,953 | 41,748 | ||||||
Total Interest-Earning Assets | 9,017,057 | 8,846,385 | ||||||
Non-interest earning assets: | ||||||||
Cash and due from banks | 300,789 | 280,883 | ||||||
Premises and equipment | 121,428 | 121,659 | ||||||
Other assets | 315,953 | 301,736 | ||||||
Less: Allowance for loan losses | (78,732 | ) | (78,653 | ) | ||||
Total Assets | $ | 9,676,495 | $ | 9,472,010 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
Interest-bearing liabilities: | ||||||||
Demand deposits | $ | 1,268,671 | $ | 1,281,107 | ||||
Savings deposits | 1,760,105 | 1,775,817 | ||||||
Time deposits | 2,431,742 | 2,488,880 | ||||||
Total Interest-Bearing Deposits | 5,460,518 | 5,545,804 | ||||||
Short-term borrowings | 1,345,285 | 1,046,485 | ||||||
Long-term debt | 570,075 | 588,125 | ||||||
Total Interest-Bearing Liabilities | 7,375,878 | 7,180,414 | ||||||
Noninterest-bearing liabilities: | ||||||||
Demand deposits | 1,257,541 | 1,268,617 | ||||||
Other | 93,351 | 98,631 | ||||||
Total Liabilities | 8,726,770 | 8,547,662 | ||||||
Shareholders' equity | 949,725 | 924,348 | ||||||
Total Liabilities and Shareholders' Equity | $ | 9,676,495 | $ | 9,472,010 | ||||
AVERAGE YIELDS ON INTEREST-EARNING ASSETS: | ||||||||
Loans and leases (1) | 5.75 | % | 5.79 | % | ||||
Taxable investment securities | 3.64 | % | 3.52 | % | ||||
Tax-exempt investment securities (1) | 3.69 | % | 3.69 | % | ||||
Equity securities (1) | 2.91 | % | 2.69 | % | ||||
Short-term investments | 5.28 | % | 3.40 | % | ||||
Total Interest-Earning Assets | 5.08 | % | 5.04 | % | ||||
AVERAGE COSTS OF INTEREST-BEARING LIABILITIES: | ||||||||
Demand deposits | 0.43 | % | 0.45 | % | ||||
Savings deposits | 0.57 | % | 0.60 | % | ||||
Time deposits | 2.73 | % | 2.80 | % | ||||
Short-term borrowings | 0.99 | % | 0.91 | % | ||||
Long-term debt | 5.14 | % | 5.05 | % | ||||
Total Interest-Bearing Liabilities | 1.69 | % | 1.75 | % | ||||
NET INTEREST MARGIN (FTE) | 3.79 | % | 3.73 | % | ||||
(1) | Yields are not fully-taxable equivalent (FTE). |
FULTON FINANCIAL CORPORATION
LOAN QUALITY INFORMATION (UNAUDITED)
Quarter Ended | ||||||||
March 31 2004 | December 31 2003 | |||||||
(in thousands) | ||||||||
Gross Charge-offs | $ | 2,689 | $ | 3,463 | ||||
Recoveries | 1,519 | 1,117 | ||||||
Net Charge-offs | $ | 1,170 | $ | 2,346 | ||||
Net Charge-offs to average loans | 0.08 | % | 0.16 | % | ||||
Non-Accrual Loans | $ | 19,594 | $ | 22,422 | ||||
Accruing Loans 90+ Days Overdue | 10,758 | 9,609 | ||||||
Other Real Estate Owned | 356 | 585 | ||||||
Total Non-Performing Assets | $ | 30,708 | $ | 32,616 | ||||
Non-accrual loans to total loans | 0.32 | % | 0.36 | % | ||||
Non-performing assets to total loans and OREO | 0.49 | % | 0.53 | % | ||||
Non-performing assets to total assets | 0.32 | % | 0.33 | % | ||||
Allowance to Loans | 1.26 | % | 1.26 | % |