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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (37003)	7/31/2005 3:38:29 PM
From: regli	Read Replies (2) \| Respond to of 110194

Interesting how most of them reduced provisions for loan losses in order to show increased profits. These are just a few samples. Capital City Bank Group, Inc. NASDAQ:CCBG (Florida) The growth in earnings was attributable to an increase in operating revenue of $7.1 million, or 22.1%, and a decrease of $192,000, or 33.1% in the loan loss provision, partially offset by an increase in noninterest expense of $5.0 million, or 23.1%, and a higher income tax provision of $860,000, or 24.9%. The increase in operating revenues reflects a 28.9% increase in net interest income and a 9.2% increase in noninterest income. Net interest income increased as a result of earning asset growth and an improving net interest margin. The lower loan loss provision is reflective of continued strong credit quality. Peoples Bancorp Inc. (NASDAQ:PEBO) Peoples Bancorp Inc. ("Peoples")(NASDAQ:PEBO) announced today second quarter 2005 net income of $5,299,000, up 5% compared to $5,053,000 earned in the second quarter a year ago. Diluted earnings per share were $0.50, up 6% from $0.47 in 2004's second quarter. Higher net interest income and non-interest income and lower provision for loan losses were the primary reasons for Peoples' improved second quarter earnings. Taylor Capital Group, Inc. (NASDAQ:TAYC) Pre-tax earnings for the six months ended June 30, 2005 were $27.9 million compared to $12.9 million for the same period during 2004. Pre-tax earnings in 2005 included pre-tax gains of $3.6 million from the sales of the branch and land trusts. The higher earnings in 2005 were also a result of higher net interest income and reduced provision for loan losses and operating expenses. Northrim BanCorp, Inc. (Nasdaq:NRIM) At June 30, 2005, the allowance for loan losses was $10.9 million, or 1.56% of portfolio loans and 160% of non-performing loans. A year ago, the allowance for loan losses was $10.3 million, or 1.67% of portfolio loans and 115% of non-performing loans. The provision for loan losses for the quarter and six month period ended June 30, 2005, decreased 77% and 88%, respectively, to $100,000 for each period, from $429,000 and $858,000, respectively for the quarter and six month period ended June 30, 2004 due to net loan recoveries and a reduction of non-performing loans. SunTrust (NYSE:STI) Although the credit trends continued to improve, the allowance for loan and lease losses was increased to $1,036.2 million at June 30, 2005 from $1,023.7 million at March 31, 2005 to accommodate the continuation of significant loan growth. Provision expense increased from $10.6 million in the first quarter of 2005 to $47.8 million in the second quarter of 2005 as a result of the need to increase the allowance for loan and lease losses. The allowance for loan and leases losses at June 30, 2005 represented 0.95% of loans and 296.7% of nonperforming loans. SunTrust believes its net charge-off and nonperforming asset levels continue to compare very favorably with the most recently published industry averages. Elimination of Material Weakness in Internal Control Over Financial Reporting SunTrust disclosed that there was a material weakness in the Company's internal control over financial reporting relating to the allowance for loan and lease losses initially in its Form 10-Q for the third quarter of 2004, in the subsequent Form 10-K for the year ended December 31, 2004 and in the Form 10-Q for the first quarter of 2005. Management has determined that SunTrust has eliminated the material weakness in internal control over financial reporting relating to the allowance for loan and lease losses through a series of remedial actions undertaken since the identification of the material weakness.