Massachusetts banks managed to scrub off about $92 million in delinquent loans in the second quarter of 2009 compared to the first quarter. The bad news? The pile of worst, most-overdue loans went in the other direction.
Loans in nonaccrual status – which are well past 90 days overdue and no longer accruing interest – jumped $79 million in the second quarter compared to the first quarter, to $872.4 million.
Meanwhile, assets between 30 and 90 days past due shrank quarter-over-quarter to $555.9 million, according to figures released today by the FDIC.
Last year for the same time period, 30-89 days’ delinquent loans were at $461 million, while nonaccrual-status loans were still sitting under $500 million.
Loans that were more than 90 days overdue but still accruing interest went down, from nearly $40 million to $33.6 million between the first and second quarter 2009.
As far as foreclosed property is concerned, banks added more homes and businesses to their books: foreclosed residential properties went from $30.2 million to $36.2 million, while commercial properties similarly went from $31.7 to $33.3.
However, total assets also swung higher in the quarter, from $97.2 billion in the first quarter 2009 to $98.1 billion last quarter, although 2008’s second quarter assets were at $108 billion at the same time last year.
Total deposits crept upward by $1.7 billion in the second quarter, and total equity capital crept up to $9.8 billion from $9.7 billion.
Banker & Tradesman excluded State Street Corp. from its analysis because the company serves institutional investors instead of individuals and small businesses.





