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Good banking news on a friday for a change! June 11, 2010

Posted by Sean Tufts in Articles, Retail News.
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Here is some decent news about Washington State banks.  It’s a nice change since most of the banking news on Friday’s this year have been about FDIC seizures!

Good sign for banks: Ratios of problem loans decrease

Puget Sound Business Journal (Seattle) – by Kirsten Grind

Nearly half of Washington’s community banks reduced their level of bad loans in the first quarter, a sign that the state’s banking crisis has slowed.

By selling off undeveloped land and empty housing developments, the state’s 86 community banks have reduced their ratio of problem assets to total assets by an average of about 1 percentage point since the fourth quarter of last year, according to data provided by brokerage McAdams Wright Ragen in Portland and analyzed by the Puget Sound Business Journal.

The 1 percentage point decline factors out banks that have been closed by regulators over the past year. Including those banks, the decline in the bad loan ratio is a more modest 0.22 percentage point since the fourth quarter.

Some banks have cut their bad loans even more — with The Bank of Washington reducing what are known as nonperforming assets by more than 3 percentage points.

Read more: Good sign for banks: Ratios of problem loans decrease – Puget Sound Business Journal (Seattle)

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