Miami-based Premier American Bank reduced its losses in the third quarter to $779,000, compared to a $2.1 million loss in the second quarter. Its number of nonperforming loans has doubled, however, reaching $48.2 million in loans that are more than 90 days past due, compared to $22.9 million, or 6.54 percent of its portfolio, as of June 30. Premier American’s current total represents 14.4 percent of its loan portfolio as of September 30, according to federal regulatory filings.
Loan losses dog Premier American Bank
October 31, 2008 12:26PM