First Indiana Announces Second Quarter 2003 Loss of $1.7 Million


INDIANAPOLIS, July 16, 2003 (PRIMEZONE) -- First Indiana Corporation (Nasdaq:FINB) today announced a net loss of $1.7 million, or $0.11 per diluted share, for the quarter ended June 30, 2003. Earnings for the second quarter of the previous year were $6.9 million, or $0.43 per diluted share. For the six months ended June 30, 2003, First Indiana's earnings were $3.0 million, or $0.19 per diluted share, compared to $13.3 million, or $0.84 per diluted share, for the same period in 2002.

Performance in the second quarter of 2003 was significantly impacted by loan charge-offs of $15.4 million relating to two commercial loan clients. First, a large contractor in the Indianapolis area experienced significant cash flow difficulty. As a result, this loan was placed on non-accrual status and was charged down to liquidation value in the second quarter of 2003. Second quarter charge-offs also reflect the completion of management's review of the under-collateralized loans in one of the Bank's out-of-state offices, previously disclosed during the first quarter of 2003, for which a provision of $2.0 million was provided at that time.

The second quarter provision for loan losses of $16.1 million was driven by the two major items discussed above. Excluding the after-tax effect of $8.3 million from these charge-offs, earnings in the second quarter of 2003 were $6.6 million, or $0.42 per diluted share. This non-GAAP information is provided to demonstrate the impact of these two credits on the reported second quarter 2003 net loss. First Indiana remains "well-capitalized," the highest rating pursuant to the interagency guidelines for capital at national banks.

The Corporation has engaged an independent evaluation firm to examine the commercial loan portfolio in detail with regard to its internal loan grading and documentation and to deliver a written report to the board of directors.

In addition, Owen B. (Bud) Melton, Jr., president and chief operating officer of the Corporation and president and chief executive officer of the Bank, announced that he will retire from the Corporation and the Bank, effective December 31, 2003. Marni McKinney, vice chairman and chief executive officer of the Corporation, said, "Bud's skill sets are many. He has served the Corporation and the Bank well during his 25-year tenure here and is a valuable resource to Bob McKinney and me." McKinney indicated that the Corporation has engaged a national executive recruiting firm to conduct a search for Melton's replacement.

The Corporation also announced today that David L. Maraman, who has 31 years of banking experience, has been elected the chief lending officer of the Bank, effective July 23, 2003. In addition, he will assume the role of acting chief credit officer until a permanent chief credit officer is named. It is expected that a new chief credit officer will be named after determination of the new Bank chief executive officer. McKinney said, "David is a great fit for this position. He has acted both as senior vice president for credit policy for a major bank and in his most recent position was instrumental in achieving significant commercial loan growth coupled with sound credit quality."

Non-performing assets were $44.1 million at June 30, 2003, compared to $55.5 million at March 31, 2003 and $42.0 million at June 30, 2002. Business non-performing loans of $11.4 million at June 30, 2003 include remaining loan balances of $1.6 million relating to the large contractor mentioned above, and single-family construction and commercial real estate non-performing loans include remaining loan balances of $6.7 million relating to the out-of-state builder mentioned above.

The provision for loan losses was $16.1 million for the second quarter 2003, compared to $4.2 million for the second quarter 2002. For the six months ended June 30, 2003, the provision for loan losses was $22.3 million, compared to $6.8 million for the same period in 2002.

Net loan charge-offs for the second quarter 2003 were $18.0 million, compared to $5.0 million for the second quarter 2002. Included in net charge-offs for the second quarter of 2003 were the charge-offs outlined above and a $1.5 million charge-off for a business loan for which an allowance had been previously established. Net loan charge-offs for the six months ended June 30, 2003 were $22.3 million, compared to $6.6 million for the same period in 2002.

Net interest margin increased to 3.86 percent for the second quarter of 2003, compared with 3.73 percent for the first quarter of 2003 and 3.76 percent for the second quarter of 2002, reflective of the Corporation's asset sensitive position. However, the 25 basis point rate cut by the Federal Reserve Board late in the second quarter of 2003 will place pressure on net interest margin in the near term.

Net interest income was $20.3 million for the three months ended June 30, 2003, compared with $18.5 million for the three months ended June 30, 2002. For the six months ended June 30, 2003, net interest income was $39.8 million, compared with $35.7 million for the same period in 2002.

First Indiana's average core demand and savings deposits increased 11 percent on an annualized basis to $840.7 million for the second quarter of 2003 from $818.5 million for the first quarter of 2003. This increase resulted largely from continued emphasis on acquisition of low cost core deposits of checking, savings, and money market accounts.

Non-interest income for the second quarter 2003 was $12.5 million, compared with $12.0 million for the same period last year. Targeted business segments of deposit fees, trust fees, and sale of loans increased for the quarter. However, as a result of increasing residential and home equity loan prepayment speeds, loan servicing fees were reduced and impairment in capitalized loan servicing rights increased, causing a decrease in loan servicing income during the second quarter of 2003 compared to the second quarter of 2002. Non-interest income for the six months ended June 30, 2003 was $26.5 million, compared with $24.4 million for the same period last year.

Non-interest expense was $19.7 million for the second quarter of 2003, compared to $19.8 million for the first quarter of 2003 and $15.3 million for the second quarter of 2002. The increase over the second quarter of 2002 is primarily due to the inclusion of MetroBanCorp expenses after the acquisition date of January 13, 2003. Approximately $300,000 in expenses were directly associated with the integration of MetroBank year-to-date, with $200,000 of those expenses being incurred during the second quarter of 2003.

MetroBank branches began operating under the First Indiana Bank name and the integration of MetroBank was completed during the second quarter of 2003. The MetroBanCorp merger is expected to be accretive in 2003.

Marni McKinney, Bud Melton, and William J. Brunner, chief financial officer, will host a conference call to discuss second quarter financial results on Thursday, July 17, 8:00 a.m. EST (Indianapolis time.) (Indianapolis is one hour earlier than New York.) To participate, please call (800) 278-9857 and ask for First Indiana second quarter earnings. A replay of the call will be available 11:00 a.m. EST on Thursday, July 17, through 5:00 p.m., Friday, July 25. To hear the replay, call (800) 642-1687 and use conference ID: 1141532.

First Indiana Corporation (NASDAQ - FINB) is a full-service financial services company offering comprehensive financial solutions to businesses and individuals. It is the holding company for First Indiana Bank, N.A., the largest commercial bank headquartered in Indianapolis, and Somerset, an accounting and consulting firm. Founded in 1915, First Indiana Bank is a national bank with 33 offices in Central Indiana, plus construction and consumer loan offices in Indiana, Arizona, Florida, Illinois, North Carolina, and Ohio. First Indiana also originates consumer loans in 46 states through a national independent agent network. Through Somerset and FirstTrust Indiana, First Indiana offers a full array of tax planning, accounting, consulting, retirement and estate planning, and investment advisory and trust services. Information about First Indiana is available at (317) 269-1200, or at www.firstindiana.com, which is not a part of this news release.

Statements contained in this news release that are not historical facts may constitute forward-looking statements (within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended) which involve significant risks and uncertainties. First Indiana intends such forward-looking statements to be covered by the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of invoking these safe-harbor provisions. The ability to predict results or the actual effect of future plans or strategies is inherently uncertain, and involves a number of risks and uncertainties. In particular, among the factors that could cause actual results to differ materially are general economic conditions, unforeseen international political events, changes in interest rates (including reductions or increases in lending rates established by the Board of Governors of the Federal Reserve System), changes in consumers' investment decisions due to shifts in interest rates, loss of deposits and loans to other savings and financial institutions, substantial changes in financial markets, changes in real estate values and the real estate market, regulatory changes, or unanticipated results in pending legal proceedings or regulatory filings. The fact that there are various risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements.



 Financial Highlights
 First Indiana Corporation and Subsidiaries
 (Dollars in Thousands, Except Per Share Data)
 (Unaudited)

                          For the                  For the
                    Three Months Ended         Six Months Ended
                          June 30                   June 30
                -------------------------   -------------------------
                    2003          2002          2003         2002
                -----------   -----------   -----------   -----------
 Net Interest
  Income        $    20,250   $    18,473   $    39,791   $    35,667
 Provision for
  Loan Losses        16,091         4,159        22,328         6,769
 Non-Interest
  Income             12,534        11,955        26,453        24,449
 Non-Interest
  Expense            19,661        15,293        39,420        32,383
 Net Earnings
  (Loss)             (1,723)        6,896         3,005        13,279

 Basic Earnings
  (Loss) Per
  Share         $     (0.11)  $      0.44   $      0.19   $      0.86
 Diluted
  Earnings
  (Loss) Per
  Share               (0.11)         0.43          0.19          0.84
 Dividends Per
  Share               0.165         0.160         0.330         0.320

 Net Interest
  Margin               3.86%         3.76%         3.80%         3.68%
 Efficiency
  Ratio               59.97         50.26         59.51         53.87
 Annualized
  Return on
  Average Assets      (0.31)         1.34          0.27          1.31
 Annualized
  Return on
  Average Equity      (3.07)        12.80          2.69         12.53

 Average Shares
  Outstanding    15,540,010    15,546,223    15,556,731    15,510,241
 Average
  Diluted
  Shares
  Outstanding    15,540,010    15,899,768    15,682,268    15,813,105

                                              At June 30
                                    ------------------------------
                                       2003               2002
                                    ----------         -----------
 Assets                             $2,250,394          $2,097,338
 Loans                               1,903,850           1,810,094
 Deposits                            1,545,584           1,383,548
 Shareholders' Equity                  217,541             218,063
 Shareholders' Equity/Assets              9.67%              10.40%
 Shareholders' Equity Per Share     $    14.00          $    14.01
 Market Closing Price                    17.16               21.77

 Shares Outstanding                 15,542,061          15,565,894


 Condensed Consolidated Balance Sheets
 First Indiana Corporation and Subsidiaries
 (Dollars in Thousands)
 (Unaudited)

                                 June 30     December 31    June 30
                                  2003          2002          2002
                               ----------    ----------    ----------
 Assets
  Cash                         $   68,065    $   76,050    $   62,464
  Interest-Bearing Due from
   Banks                            8,949          --            --
  Federal Funds Sold                 --            --            --
  Securities Available for Sale   155,024       138,457       145,085
  Federal Home Loan Bank and
   Federal Reserve Bank Stock      25,097        22,491        22,491
  Loans
   Business                       594,909       501,213       495,427
   Consumer                       638,982       666,150       672,972
   Residential Mortgage           298,789       311,324       278,505
   Single-Family Construction     203,735       212,772       220,658
   Commercial Real Estate         167,435       146,174       142,532
                               ----------    ----------    ----------
  Total Loans                   1,903,850     1,837,633     1,810,094
   Allowance for Loan Losses      (46,247)      (44,469)      (37,353)
                               ----------    ----------    ----------
   Net Loans                    1,857,603     1,793,164     1,772,741
  Premises and Equipment           26,278        21,528        20,148
  Accrued Interest Receivable      10,361        10,771        11,936
  Mortgage Servicing Rights         8,368         9,065         9,679
  Goodwill                         36,901        13,045        13,045
  Other Intangible Assets           4,989          --            --
  Other Assets                     48,759        40,643        39,749
                               ----------    ----------    ----------
    Total Assets               $2,250,394    $2,125,214    $2,097,338
                               ==========    ==========    ==========

 Liabilities
  Non-Interest-Bearing
   Deposits                    $  253,571    $  180,389    $  169,461
  Interest-Bearing Deposits
   Demand Deposits                212,023       179,751       160,781
   Savings Deposits               427,572       398,752       414,581
   Certificates of Deposit        652,418       580,312       638,725
                               ----------    ----------    ----------
     Total Interest-Bearing
      Deposits                  1,292,013     1,158,815     1,214,087
                               ----------    ----------    ----------
    Total Deposits              1,545,584     1,339,204     1,383,548
  Short-Term Borrowings           150,832       170,956       143,142
  Federal Home Loan Bank
   Advances                       278,550       346,532       319,538
  Trust Preferred Securities       23,578        11,797          --
  Accrued Interest Payable          2,554         2,290         2,942
  Advances by Borrowers for
   Taxes and Insurance              2,736         1,820         3,403
  Other Liabilities                29,019        31,404        26,702
                               ----------    ----------    ----------
    Total Liabilities           2,032,853     1,904,003     1,879,275
                               ----------    ----------    ----------

 Shareholders' Equity
  Common Stock                        174           173           172
  Capital Surplus                  44,472        43,296        43,222
  Retained Earnings               192,005       194,738       191,077
  Accumulated Other
   Comprehensive Income             3,795         4,644         3,825
  Treasury Stock at Cost          (22,905)      (21,640)      (20,233)
                               ----------    ----------    ----------
    Total Shareholders' Equity    217,541       221,211       218,063
                               ----------    ----------    ----------
    Total Liabilities and
     Shareholders' Equity      $2,250,394    $2,125,214    $2,097,338
                               ==========    ==========    ==========


 Condensed Consolidated Statements of Earnings
 First Indiana Corporation and Subsidiaries
 (Dollars in Thousands, Except Per Share Data)
 (Unaudited)

                               Three Months Ended   Six Months Ended
                                    June 30              June 30
                               ------------------   ------------------
                                2003       2002      2003       2002
                               -------    -------   -------    -------
 Interest Income
  Loans                        $27,318    $29,343   $55,076    $58,371
  Securities Available
   for Sale                      1,863      2,173     3,892      4,415
  Dividends on FRB and
   FHLB Stock                      322        350       668        683
  Federal Funds Sold              --            3         3         15
  Interest-Bearing Due
   from Banks                       23       --          29       --
                               -------    -------   -------    -------
   Total Interest Income        29,526     31,869    59,668     63,484
 Interest Expense
  Deposits                       6,449      9,771    13,840     19,972
  Short-Term Borrowings            385        527       772        922
  Federal Home Loan Bank
   Advances                      2,216      3,098     4,817      6,923
  Trust Preferred Securities       226       --         448       --
                               -------    -------   -------    -------
   Total Interest Expense        9,276     13,396    19,877     27,817
                               -------    -------   -------    -------
 Net Interest Income            20,250     18,473    39,791     35,667
  Provision for Loan Losses     16,091      4,159    22,328      6,769
                               -------    -------   -------    -------

 Net Interest Income After
  Provision for Loan Losses      4,159     14,314    17,463     28,898
 Non-Interest Income
  Loan and Deposit Charges       4,547      3,897     8,807      7,407
  Loan Servicing Income
   (Expense)                      (168)       203      (265)       434
  Loan Fees                        630        792     1,219      1,397
  Trust Fees                       709        655     1,435      1,328
  Somerset Fees                  2,531      2,539     7,230      6,822
  Investment Product Sales
   Commissions                     486        927       834      1,535
  Sale of Loans                  2,895      2,052     5,368      3,933
  Sale of Investment
   Securities                     --          223         7        223
  Other                            904        667     1,818      1,370
                               -------    -------   -------    -------
   Total Non-Interest Income    12,534     11,955    26,453     24,449
 Non-Interest Expense
  Salaries and Benefits         11,378      8,616    23,541     18,653
  Net Occupancy                  1,243      1,041     2,392      2,021
  Equipment                      1,684      1,555     3,357      3,144
  Professional Services          1,374      1,025     2,463      2,096
  Marketing                        629        494     1,246      1,153
  Telephone, Supplies,
   and Postage                     958        893     2,002      1,672
  Other Intangible Asset
   Amortization                    184       --         368       --
  Other                          2,211      1,669     4,051      3,644
                               -------    -------   -------    -------
   Total Non-Interest
    Expense                     19,661     15,293    39,420     32,383
                               -------    -------   -------    -------
 Earnings (Loss) before
   Income Taxes                 (2,968)    10,976     4,496     20,964
  Income Taxes                  (1,245)     4,080     1,491      7,685
                               =======    =======   =======    =======
 Net Earnings (Loss)           $(1,723)   $ 6,896   $ 3,005    $13,279
                               =======    =======   =======    =======
 Basic Earnings (Loss)
  Per Share                    $ (0.11)   $  0.44   $  0.19    $  0.86
                               =======    =======   =======    =======
 Diluted Earnings (Loss)
  Per Share                    $ (0.11)   $  0.43   $  0.19    $  0.84
                               =======    =======   =======    =======
 Dividends Per Common Share    $ 0.165    $ 0.160   $ 0.330    $ 0.320
                               =======    =======   =======    =======


 Net Interest Margin
 First Indiana Corporation and Subsidiaries
 (Dollars in Thousands)
 (Unaudited)

                                 Three Months Ended
                 ----------------------------------------------------
                       June 30, 2003               June 30, 2002
                 ------------------------   -------------------------
                   Average          Yield/    Average           Yield/
                   Balance  Interest Rate     Balance  Interest  Rate
                 ----------  ------  ----   ----------  ------   ----
 Assets
  Interest-Bearing
   Due from
   Banks         $    6,920  $   23  1.34%  $     --        --    -- %
  Federal Funds
   Sold                  77    --    --          1,341       3   0.97
  Securities
   Available
   for Sale         150,361   1,863  4.96      146,239   2,173   5.94
  FHLB and FRB
   Stock             25,029     322  5.15       22,491     350   6.22
    Loans
     Business       588,215   7,610  5.19      469,760   6,630   5.66
     Consumer       661,132  10,971  6.65      681,360  12,825   7.53
     Residential
      Mortgage      301,105   4,080  5.42      284,780   4,795   6.73
    Single-
     Family
     Construction   207,140   2,357  4.56      225,502   2,982   5.30
    Commercial
     Real Estate    160,757   2,300  5.73      131,416   2,111   6.44
                 ----------  ------         ----------  ------       
   Total Loans    1,918,349  27,318  5.71    1,792,818  29,343   6.55
                 ----------  ------         ----------  ------       
  Total Earning
   Assets         2,100,736  29,526  5.63    1,962,889  31,869   6.50
 Other Assets       134,499                    104,771
                 ----------                 ----------
 Total Assets    $2,235,235                 $2,067,660
                 ==========                 ==========

 Liabilities and
 Shareholders' Equity
  Interest-Bearing
    Deposits
     Demand
      Deposits   $  208,028  $  308  0.59%  $  168,690  $  357   0.85%
     Savings
      Deposits      429,170     780  0.73      425,240   1,430   1.35
     Certificates
      of Deposit    747,208   5,361  2.88      657,105   7,984   4.87
                 ----------  ------         ----------  ------       
   Total Interest-
    Bearing
    Deposits      1,384,406   6,449  1.87    1,251,035   9,771   3.13
   Short-Term
    Borrowings      137,475     385  1.12      123,207     527   1.72
   Federal Home
    Loan Bank
    Advances        232,077   2,216  3.83      289,490   3,098   4.29
   Trust Preferred
    Securities       12,460     226  7.24        --       --      --
                 ----------  ------         ----------  ------       
  Total Interest-
   Bearing
   Liabilities    1,766,418   9,276  2.11    1,663,732  13,396   3.23
  Non-Interest-
   Bearing Demand
   Deposits         203,461                    148,288
  Other
   Liabilities       40,370                     39,635
  Shareholders'
   Equity           224,986                    216,005
                 ----------                 ----------               
 Total Liabilities
  and
  Shareholders'
  Equity         $2,235,235                 $2,067,660
                 ==========  ------         ==========  ------
 Net Interest
  Income/Spread             $20,250  3.52%             $18,473   3.27%
                            =======  ====              =======   ====
 Net Interest
  Margin                             3.86%                       3.76%
                                     ====                        ====

                                 Six Months Ended
                 ----------------------------------------------------
                       June 30, 2003               June 30, 2002
                 ------------------------   -------------------------
                   Average          Yield/    Average           Yield/
                   Balance  Interest Rate     Balance  Interest  Rate
                 ----------  ------  ----   ----------  ------   ----
 Assets
  Interest-Bearing
    Due from
    Banks        $    4,375  $   29  1.33%  $   --      $ --      -- %
  Federal Funds
   Sold                 401       3  1.66        2,171      15   1.41
  Securities
   Available for
   Sale             155,609   3,892  5.00      147,573   4,415   5.98
  FHLB and FRB
  Stock              24,745     668  5.40       22,491     683   6.07
   Loans
    Business        577,177  14,841  5.19      453,759  12,889   5.73
    Consumer        672,860  22,526  6.72      678,080  25,966   7.68
    Residential
     Mortgage       300,140   8,315  5.54      281,823   9,454   6.71
    Single-Family
     Construction   208,660   4,915  4.75      224,876   5,925   5.31
    Commercial
     Real Estate    156,852   4,479  5.74      127,230   4,137   6.54
                 ----------  ------         ----------  ------
   Total Loans    1,915,689  55,076  5.78    1,765,768  58,371   6.64
                 ----------  ------         ----------  ------ 
  Total Earning
   Assets         2,100,819  59,668  5.70    1,938,003  63,484   6.58
  Other Assets      135,098                    105,688
                 ----------                 ----------               
 Total Assets    $2,235,917                 $2,043,691
                 ==========                 ==========

 Liabilities and
  Shareholders' Equity
   Interest-Bearing
    Deposits
     Demand
      Deposits   $  197,961  $  598  0.61%  $  157,129  $  646   0.83%
     Savings
      Deposits      432,967   1,787  0.83      436,126   2,998   1.39
    Certificates
     of Deposit     721,236  11,455  3.20      642,311  16,328   5.13
                 ----------  ------         ----------  ------
   Total Interest
    Bearing
    Deposits      1,352,164  13,840  2.06    1,235,566  19,972   3.26
   Short-Term
    Borrowings      136,427     772  1.14      109,418     922   1.70
   Federal Home
    Loan Bank
    Advances        270,999   4,817  3.58      294,635   6,923   4.74
   Trust
    Preferred
    Securities       12,133     448  7.38       --        --      --
                 ----------  ------         ----------  ------
  Total Interest-
   Bearing
   Liabilities    1,771,723  19,877  2.26    1,639,619  27,817   3.42
  Non-Interest-
   Bearing Demand
   Deposits         198,730                    147,438
  Other
   Liabilities       40,518                     42,890
  Shareholders'
   Equity           224,946                    213,744
                 ----------                 ----------
 Total Liabilities
  and
  Shareholders'
  Equity         $2,235,917                 $2,043,691
                 ==========  ------         ==========  ------
 Net Interest
  Income/Spread             $39,791  3.44%             $35,667   3.16%
                            =======  ====              =======   ====
 Net Interest
  Margin                             3.80%                       3.68%
                                     ====                        ====


 Loan Charge-Offs and Recoveries
 First Indiana Corporation and Subsidiaries
 (Dollars in Thousands)
 (Unaudited)

                              Three Months Ended   Six Months Ended
                               -----------------   -----------------
                                    June 30,           June 30, 
                                 2003      2002     2003      2002    
                               -------   -------   -------   -------
 Allowance for Loan
  Losses at Beginning
  of Period                    $48,178   $38,193   $44,469   $37,135
   Charge-Offs
   Business                     13,889     3,217    16,636     3,525
   Consumer                      1,135     2,023     2,785     3,406
   Residential Mortgage             29        20       110        20
   Single-Family
    Construction                 3,640        71     3,923        71
   Commercial Real Estate           22        52        22        62
                               -------   -------   -------   -------
  Total Charge-Offs             18,715     5,383    23,476     7,084
  Recoveries
   Business                        328        70       639        71
   Consumer                        234       286       420       399
   Residential Mortgage              7      --           7      --
   Single-Family
    Construction                   124        15       151        49
   Commercial Real Estate         --          13      --          14
                               -------   -------   -------   -------
  Total Recoveries                 693       384     1,217       533
                               -------   -------   -------   -------
  Net Charge-Offs               18,022     4,999    22,259     6,551
  Provision for Loan
   Losses                       16,091     4,159    22,328     6,769
  Allowance Related to
   Bank Acquired                  --        --       1,709      --
                               -------   -------   -------   -------
 Allowance for Loan Losses
  at End of Period             $46,247   $37,353   $46,247   $37,353
                               =======   =======   =======   =======

 Net Charge-Offs to
  Average Loans (Annualized)      3.77%     1.12%     2.34%     0.74%
 Allowance for Loan Losses
  to Loans at End of Period       2.43      2.06
 Allowance for Loan Losses
  to Non-Performing Loans
  at End of Period              119.57    108.83



 Non-Performing Assets
 First Indiana Corporation and Subsidiaries
 (Dollars in Thousands)
 (Unaudited)

                                  June 30,   December 31,  June 30,
                                    2003         2002        2002
                                  -------      -------     -------
 Non-Performing Loans
  Non-Accrual Loans
   Business                       $10,966      $20,234     $ 6,310
   Consumer                         8,323        9,405      12,118
   Residential Mortgage             2,718        2,474       3,773
   Single-Family Construction       8,833        4,286       5,116
   Commercial Real Estate           5,440        2,059       3,127
                                  -------      -------     -------
  Total Non-Accrual Loans          36,280       38,458      30,444
                                  -------      -------     -------
  Accruing Loans
   Business - Past Due 90 Days
    or More                           482        1,535       1,148
   Consumer - Past Due 90 Days
    or More                         1,915        3,093       2,683
   Single-Family Construction -
    Past Due 90 Days or More         --           --            48
                                  -------      -------     -------
  Total Accruing Loans              2,397        4,628       3,879
                                  -------      -------     -------
 Total Non-Performing Loans        38,677       43,086      34,323
  Other Real Estate Owned, Net      5,473        8,670       7,714
                                  -------      -------     -------
 Total Non-Performing Assets      $44,150      $51,756     $42,037
                                  =======      =======     =======

 Non-Performing Loans to Loans
  at End of Period                   2.03%        2.34%       1.90%
 Non-Performing Assets to Loans
  and OREO at End of Period          2.31         2.80        2.31


            

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