Community Trust Bank 3Q Report
More and more 3Q reports coming out suggest that the foreclosure rates are possibly declining, but still significant across the state. Community Trust reports the following:
“Nonperforming loans decreased $14.4 million during the third quarter 2009 to $45.2 million compared to $59.6 million at prior quarter end and $49.3 million at September 30, 2008. The decrease in nonperforming loans was in both the 90 day and accruing and the nonaccrual classifications. Nonperforming assets, however, increased $1.8 million from prior quarter-end, June 30, 2009, and $23.0 million from prior year quarter-end, September 30, 2008, as a result of increased other real estate owned.”
Other portions of their 3Q report suggest that they are still making loans, but not in the residential sector.
“Loan growth occurred during the quarter in the residential and consumer loan portfolios with residential loans increasing by $23.4 million and consumer loans increasing by $18.5 million. The commercial loan portfolio declined by $19.4 million during the quarter. Year-to-date loan growth of $54.0 million consisted of growth in the commercial loan portfolio of $12.8 million, growth in the consumer loan portfolio of $45.1 million, and a decline in the residential portfolio of $3.9 million.”
Read the full report.
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