|
Nonperforming assets, excluding accruing loans 90 days past due, increased
$34.7 million, to $196.3 million, during 2000. The graph entitled Asset
Quality Trends and Table 15 provide trend information and detailed components
of nonperforming assets for each of the last five years.
The increase in nonperforming assets in 2000 compared to 1999 was primarily
the result of a higher level of nonperforming loans in the commercial
and industrial loan portfolio. The increase was the result of deterioration
in syndicated loans–loans to large corporate borrowers that are
shared among several banks. Deterioration among syndicated loans at
the time was addressed, in part, through the financial restructuring.
Additionally, the majority of consumer nonaccrual loans are secured
by residential real estate.
Table 16 presents nonperforming loans and net charge-offs and each
as a percentage of average net loans by category for December 31, 2000
and 1999.
|
|
|
Nonperforming Loans and Net Charge-offs
(Recoveries) Table 16
 |
 |
|
|
|
Nonperforming Loans*
|
|
Net Charge-offs/(Recoveries)
|
|
|
|
|
|
Dec. 31,
2000
|
% of
Average
Loans**
per
Category
|
Dec. 31,
1999
|
% of
Average
Loans**
per
Category
|
|
Dec. 31,
2000
|
% of
Average
Loans**
per
Category
|
Dec. 31,
1999
|
% of
Average
Loans**
per
Category
|
| (Dollars in thousands) |
|
| Commercial: |
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
$ 108,730 |
1.40% |
$ 39,474 |
0.49% |
$ 33,581 |
0.43% |
$ 32,219 |
0.40% |
|
Commercial loans
secured by real estate |
18,989 |
1.03 |
35,554 |
1.73 |
11,226 |
0.61 |
2,174 |
0.11 |
|
|
|
|
|
|
|
Total commercial |
127,719 |
1.33 |
75,028 |
0.74 |
44,807 |
0.46 |
34,393 |
0.34 |
|
|
|
|
|
|
Commercial real estate mortgages |
24,259 |
0.98 |
15,530 |
0.76 |
(210) |
(0.01) |
2,066 |
0.10 |
|
Real estate construction |
4,537 |
0.20 |
13,356 |
0.60 |
663 |
0.03 |
1,140 |
0.05 |
|
|
|
|
|
|
|
Total commercial
real estate |
28,796 |
0.61 |
28,886 |
0.68 |
453 |
0.01 |
3,206 |
0.08 |
|
|
|
|
|
| Consumer: |
|
|
|
|
|
|
|
|
|
Residential first mortgages |
12,494 |
0.80 |
22,343 |
1.02 |
987 |
0.06 |
3,841 |
0.17 |
|
Other residential mortgages |
10,126 |
0.23 |
13,308 |
0.39 |
8,841 |
0.20 |
4,632 |
0.14 |
|
Dealer indirect |
1 |
0.00 |
562 |
0.02 |
42,518 |
1.13 |
29,331 |
0.82 |
|
Revolving credit |
- |
0.00 |
164 |
0.03 |
15,900 |
3.35 |
15,953 |
3.30 |
|
Other consumer |
523 |
0.04 |
843 |
0.06 |
10,845 |
0.83 |
11,550 |
0.79 |
|
|
|
|
|
|
|
Total consumer |
23,144 |
0.20 |
37,220 |
0.33 |
79,091 |
0.69 |
65,307 |
0.59 |
|
|
|
|
|
|
|
|
$ 179,659 |
0.69% |
$ 141,134 |
0.55% |
$ 124,351 |
0.48% |
$ 102,906 |
0.40% |
|
|
|
| * Exclusive of accruing loans 90
days past due |
| ** Net of unearned income |
|
