Showing posts with label CNB. Show all posts
Showing posts with label CNB. Show all posts

Wednesday, August 13, 2008

Quick Facts About CNB

I was just reading the latest CNB 10-Q. I thought I'd post my notes up here.

  • Loan portfolio is 37% RE construction, 32% commercial RE, 17% residential RE.
  • FDIC insurance and other regulatory fees were $4.4m for Q2, up 258.3% yoy.
  • They have a huge portfolio of securities (13% of assets): mostly CMOs, mostly AAA rated by S&P "or equivalent".
  • Total nonperforming assets as a percent of loans, other real estate and repossessions is 2.62%.
-Construction loans:
  • 47% FL, 9% NV
  • waLTV 71%
  • Residential land, development and lots are 34% of the construction category (waLTV 74%)
  • "The majority of the Company’s nonperforming assets and net charge-offs during recent quarters relate to residential construction loans."
  • Commercial land, development and lots are 27% of the construction category.
-Commercial RE:
  • 63% FL, 4% NV
  • waLTV 64%