Southern provided USD250,000 for loan losses in 2015, with an allowance for loan losses
at December 31, 2015 of USD5, 273,000, or 1.
However, asset quality continues to be a primary focus in this weakened economy and we continue to maintain a healthy allowance for loan losses
For further guidance, institutions should refer to the July 12, 1999, Joint Interagency Letter to Financial Institutions on the allowance for loan losses
, as well as the July 2, 2001, Interagency Policy Statement on Allowance for Loan and Lease Losses (ALLL) Methodologies and Documentation for Banks and Savings Institutions.
That reaction to the Fed's endorsement of FASB's staff-written implementation paper was fueled by language expressly stating that a creditor may not "simply increase (or not decrease) the allowance for loan losses
in `good' economic times to provide for losses expected to occur in the future.
Southern provided USD75,000 for loan losses during the first quarter of 2015, essentially matching unallocated losses, resulting in an allowance for loan losses
The firm said it recorded its acquired loans at fair value at the date of acquisition with no separate allowance for loan losses
I welcome this opportunity to discuss the Federal Reserve's views on recent developments relating to the allowance for loan losses
The audit objective for loans and for the related allowance for loan losses
is to evaluate the reasonableness of the allowance recorded by management.
The overall total allowance for loan losses
to total loans was 0.