From LBFC news release today: Receivables and Loans for sale are
rising, more than doubling from Dec, 1997. Looks like they can't
seem to get payment for those pesky subprime loans they create.
Rex
Assets Sept 30, 1998 Dec 31, 1997
Cash and cash equivalents $ 34,448 $ 38,782
Investment securities available for sale 32 3,793
Loans held for sale 52,888 17,241
Receivable from the sales of loans 320,517 143,088
Premises and equipment, net 4,361 3,620
Deferred income taxes 32,600 34,400
Capitalized mortgage servicing rights 5,048 3,054
Prepaid expenses and other assets 4,519 4,110
--------- ---------
Total assets $ 454,413 $ 248,088 |
