The Real Deal Miami

Loan losses dog Premier American Bank

October 31, 2008 12:26PM

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.