Wrong Bank of the West; Loans Chart Revised

In the Aug. 18, 2008 edition of Tulsa Business Journal, in the chart titled, “Delinquent Loans Rise,” the figures for Bank of the West weren’t west enough.
In the “Other Regional Banks with Tulsa MSA Branches” section, 2Q figures for The Bank of the West headquartered in Thomas, Okla., were mistakenly quoted in place of the figures for San Francisco, Calif.-based Bank of the West.
The correct figures are (dollars in thousands): net loans and leases, $45,329,767; net credit loses, $151,907; 2Q 2008 loan loss provision, $305,250; 2Q 2007 loan loss provision, $50,000; loans 30-89 days past due, $385,676; loans 90 days past due, $73,433; 2Q 2008 loans in nonaccrual status, $605,386; 2Q 2007 loans in nonaccrual status, $230,971; percent of total past due and nonaccrual loans (2008), 2.32 percent (ranking Bank of the West fifth rather than first on the Other Regional Banks list); other real estate owned, $29,031.
The corrected total net loans and leases figure for Other Regional Banks with Tulsa MSA Branches tops $72.96 billion, with 2.18 percent in past due and nonaccrual status.
Net loans and leases for JPMorgan Chase Bank NA were miscalculated at $386,118,000, rendering the percent of second quarter 2008 loans in nonaccrual and past due status at 3.55 percent. The correct loans and leases figure for the quarter is $472,266,000, and the percent of second quarter 2008 loans in nonaccrual and past due status is 2.84 percent. The bank’s OREO figure was also miscalculated; the correct figure is $181,000.
The corrected total net loans and leases figure for National Money Center Banks with Tulsa MSA Branches tops $1.09 trillion, with 9.11 percent in past due and nonaccrual status.
As the 2Q Uniform Bank Performance Reports (UBPR) were not available by press time, the percentage of second-quarter 2008 loans in nonaccrual and past due status, the factor by which bank performance was ranked, was calculated as a function of total loans in past due and nonaccrual status by total loans and leases.
The banks for which the percentage as reported in the 2Q UBPR, available 45 days after the end of the quarter, varied significantly from our calculations are: The American Bank (reported percentage at 1.70); Grand Bank (1.19 percent); F&M Bank & Trust (2.21 percent); and Triad Bank NA (6.01 percent).
The corrected ranking of local banks by best performing percentage of second quarter 2008 loans in nonaccrual and past due status is:
1, American Bank & Trust Co., .20 percent
2, 1st Bank of Oklahoma, .30 percent
3, Osage Federal Bank, .37 percent
4, Community Bank, .38 percent
5, Union Bank of Chandler, .42 percent
6, Citizens Bank of Oklahoma, .47 percent
7, Valley National Bank, .65 percent
8, RCB Bank, .73 percent
9, American Heritage Bank, 1.04 percent
10, Peoples Bank, 1.11 percent
11, Grand Bank, 1.19 percent
12, Citizens Security Bank & Trust Co., 1.34 percent
13, Morris State Bank, 1.51 percent
14, Lakeside State Bank, 1.64 percent
15, The American Bank, 1.70 percent
16, Summit Bank, 1.71 percent
17, First State Bank, 1.74 percent
18, Stillwater National Bank & Trust Co., 1.76 percent
19, First Bank of Owasso, 1.80 percent
20, First National Bank & Trust Co. of Okmulgee, 2.01 percent
21, NBanC (NBC Bank), 2.04 percent
22, Cleveland Bank, 2.17 percent
23, F&M Bank & Trust Co., 2.21 percent
23, ONB Bank & Trust Co., 2.21 percent
24, First Bank & Trust Co., 2.54 percent
25, Security Bank, 2.58 percent
26, SpiritBank, 2.64 percent
27, American Bank of Oklahoma, 2.70 percent
28, First National Bank of Coweta, 2.89 percent
29, Tulsa National Bank, 2.91 percent
30, First Fidelity Bank NA, 3.03 percent
31, Armstrong Bank, 3.05 percent
32, First National Bank & Trust Co. of Broken Arrow, 3.46 percent
33, Bank of the Lakes NA, 3.64 percent
34, Bank of Commerce, 3.89 percent
35, First National Bank in Hominy, 3.99 percent
36, First State Bank of Porter, 4.14 percent
37, American Exchange Bank, 4.48 percent
38, Freedom Bank of Oklahoma, 4.61 percent
39, Triad Bank NA, 6.01 percent
40, First National Bank in Pawhuska, 6.08 percent
41, First National Bank of Pawnee, 6.94 percent
42, First BankCentre, 7.00 percent
43, Exchange Bank, 7.91 percent
44, Home National Bank, 8.50 percent
45, American State Bank, 9.12 percent
46, Arkansas Valley State Bank, 14.54 percent
47, First Pryority Bank, 15.88 percent



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