|
|
Article: Allegiance Bank of North America Reports Operating Results for the Quarter Ended, September 30, 2009.
- Article from:
- Real Estate Business Journal
- Article date:
- November 7, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Allegiance Bank of North America (the Bank) reported a net loss of $519,000, or $0.11 per share, for the third quarter of 2009, compared to a net loss of $670,000, or $.14 per share for the third quarter of 2008. The Bank continued its efforts to reduce non-performing loans during the third quarter of 2009. The $7.4 million balance of non-performing loans at September 30, 2009 was $2.8 million, or 28%, less than the balance at June 30, 2009 as a result of the sale of the Paramount Mortgage and Capital, LLC (Paramount) loan portfolio, the sale of one Bank non-performing loan and loan charge-offs to adjust non-performing loans fair value. As previously disclosed, during the ...