Simplicity Bancorp, Inc. Announces Year End Earnings – Yahoo Finance

Non-performing loans decreased to $7.6 million, or 1.06% of total loans at June 30, 2014 as compared to $15.9 million, or 2.29% of total loans at June 30, 2013. The decrease in delinquent loans 60 days or more and non-performing loans as compared to prior fiscal year was primarily attributable to pay-offs and troubled debt restructurings returning to accrual status after the borrowers demonstrated a sustained period of performance, generally six consecutive months of timely payments, during the year ended June 30, 2014. The allowance for loan losses to non-performing loans was 59.88% at June 30, 2014 as compared to 35.45% at June 30, 2013. The increase in the allowance for loan losses to non-performing loans was a result of the decrease in non-performing loans, partially offset by a decrease in the allowance for loan losses for the year ended June 30, 2014. During the year ended June 30, 2014, a $700,000 reversal of provision for loan losses was recorded as compared to a $250,000 provision for loan losses for the year ended June 30, 2013. http://finance.yahoo.com/news/simplicity-bancorp-inc-announces-end-203000653.html

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