Delinquent Loans Tick Up For Banks
Banks in Massachusetts were worth more in the second quarter than they have been since last year, according to a state profile published by the Federal Deposit Insurance Corp. Thursday.
The FDIC said total assets for the state's banks hit $248.6 billion for the second quarter, up from $239 billion in the first quarter and topping the $247 billion recorded in the second quarter of last year.
However, the median for noncurrent loans at Massachusetts banks was 1.01 percent during the quarter, a significant increase over the 0.48 percent registered for the same period a year ago and the 0.93 percent reported in the previous quarter. Noncurrent loans are loans for which payments are not up-to-date.
Single-family home permits continued their decline and were down 26.7 percent from the second quarter of 2008. Multi-family building permits were down 85.7 percent from a year ago. The FDIC's home price index was down 3.5 percent from a year ago and personal bankruptcy filings increased by 3.34 percent.
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