DEARBORN BANCORP, INC. 
By
The Company's operating net loss for the full year, which excludes the
non-cash impairment charges, was
During the twelve months of 2008, the Company's total assets increased 7.2
percent to
Ross went on, "We provided
Ross concluded his report by saying, "Our day to day operations provide
sufficient cash flow to allow us to absorb the losses from the real estate
'bust' in
Dearborn Bancorp, Inc., is a registered bank holding company. Its sole
subsidiary is Fidelity Bank. The Bank operates 19 offices in
Forward-Looking Statements
This press release contains forward-looking statements that are based on management's beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy and about the Corporation and the Bank. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "is likely," "plans," "projects," variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Future Factors") that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed or forecasted in such forward-looking statements. The Corporation undertakes no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events (whether anticipated or unanticipated), or otherwise.
Future Factors include changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulation; changes in tax laws; changes in prices, levies and assessments; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies, trends in customer behavior as well as their ability to repay loans; and changes in the national and local economy. These are representative of the Future Factors and could cause a difference between an ultimate actual outcome and a preceding forward-looking statement.
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS (unaudited)
(Dollars, in thousands)
12/31/08 12/31/07
ASSETS
Cash and cash equivalents
Cash and due from banks $11,671 $7,869
Federal funds sold 4,455 1,495
Interest bearing deposits
with banks 36,876 118
Total cash and cash
equivalents 53,002 9,482
Mortgage loans held for sale 1,834 1,316
Investment securities, available for sale 84,148 8,902
Federal Home Loan Bank stock 3,614 2,072
Loans
Loans 933,269 952,084
Allowance for loan loss (14,452) (10,617)
Net loans 918,817 941,467
Premises and equipment, net 21,272 22,782
Real estate owned 9,657 6,319
Goodwill --- 34,028
Other intangible assets 4,592 11,133
Accrued interest receivable 3,499 3,816
Other assets 21,483 5,664
Total assets $1,121,918 $1,046,981
LIABILITIES
Deposits
Non-interest bearing
deposits $81,317 $83,594
Interest bearing deposits 857,078 739,033
Total deposits 938,395 822,627
Other liabilities
Federal funds purchased --- 30,100
Securities sold under
agreements to repurchase 2,461 480
Federal Home Loan Bank
advances 65,019 41,370
Accrued interest payable 1,695 3,168
Other liabilities 1,037 1,688
Subordinated debentures 10,000 10,000
Total liabilities 1,018,607 909,433
STOCKHOLDERS' EQUITY
Common stock - 20,000,000
shares authorized, 7,696,204
and 8,237,413 shares
outstanding in 2008 and 2007,
respectively 131,784 134,278
Retained earnings (28,675) 3,250
Accumulated other
comprehensive loss 202 20
Total stockholders'
equity 103,311 137,548
Total liabilities and
stockholders' equity $1,121,918 $1,046,981
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
(In thousands, except share
and per share data) Three Months Ended Twelve Months Ended
12/31/08 12/31/07 12/31/08 12/31/07
Interest income
Interest on loans,
including fees $14,623 $16,998 $60,533 $68,947
Interest on securities,
available for sale 149 102 464 603
Interest on federal funds 27 72 86 433
Interest on deposits with
banks 40 43 43 127
Total interest income 14,839 17,215 61,126 70,110
Interest expense
Interest on deposits 6,440 8,616 25,106 33,303
Interest on other
borrowings 855 725 3,889 3,188
Total interest expense 7,295 9,341 28,995 36,491
Net interest income 7,544 7,874 32,131 33,619
Provision for loan losses 4,884 855 14,606 5,821
Net interest income after
provision for loan losses 2,660 7,019 17,525 27,798
Non-interest income
Service charges on deposit
accounts 392 328 1,538 1,267
Fees for other services to
customers 39 43 128 141
Gain on the sale of loans 0 28 165 163
Write-down of real estate (1,783) (105) (2,292) (701)
Loss on the sale of real
estate (25) (26) (745) (26)
Gain on the sale of
securities 8 --- 17 ---
Other income 64 54 259 176
Total non-interest
income (1,305) 322 (930) 1,020
Non-interest expenses
Salaries and employee
benefits 3,236 3,318 13,142 13,109
Occupancy and equipment
expense 981 915 3,752 3,663
Intangible expense 0 416 968 1,328
Impairment of goodwill 34,028 --- 34,028 ---
Impairment of other
intangible assets 5,573 --- 5,573 ---
FDIC assessment 174 349 696 424
Advertising and marketing 158 129 550 468
Stationery and supplies 185 137 592 617
Professional services 337 255 1,063 1,042
Data processing 246 274 848 716
Defaulted loan expense 649 462 2,078 685
Other operating expenses 462 484 1,717 1,744
Total non-interest
expenses 46,029 6,739 65,007 23,796
Income before income tax
provision (44,674) 602 (48,412) 5,022
Income tax provision (15,267) 204 (16,487) 1,856
Net income (loss) ($29,407) $398 ($31,925) $3,166
Per share data:
Net income - basic ($3.77) $0.05 ($3.99) $0.37
Net income - diluted ($3.77) $0.05 ($3.99) $0.36
Weighted average number of
shares outstanding -
basic 7,796,354 8,357,909 8,007,345 8,602,704
Weighted average number of
shares outstanding -
diluted 7,796,354 8,504,931 8,007,345 8,823,699
DEARBORN BANCORP, INC. AND SUBSIDIARY
ASSET QUALITY DATA
(Dollars, in
thousands)
12/31/2008 9/30/2008 6/30/2008 3/31/2008 12/31/2007
Troubled debt
restructuring $17,765 $15,328 $13,145 $8,710 $21,077
Loans over 90 days
past due and still
accruing 450 3,141 7,319 9,257 884
Non-accrual loans 51,708 51,342 36,195 17,406 18,117
Total non-performing
loans 69,923 69,811 56,659 35,373 40,078
Real estate owned
and other
repossessed assets 9,657 8,343 5,411 6,183 6,319
Total non-performing
assets $79,580 $78,154 $62,070 $41,556 $46,397
Net charge-offs
(Year to date) $10,771 $3,910 $3,611 $754 $4,683
Allowance for loan
losses 14,452 16,429 16,638 10,749 10,617
ASSET QUALITY RATIOS
12/31/2008 9/30/2008 6/30/2008 3/31/2008 12/31/2007
Non-accrual loans
to total loans 5.54% 5.47% 3.83% 1.84% 1.90%
Non-performing loans
to total loans 7.49% 7.43% 6.00% 3.73% 4.21%
Non-performing assets
to total assets 7.09% 7.25% 5.98% 3.97% 4.43%
Loans over 90 days
past due and still
accruing to total
loans 0.05% 0.33% 0.78% 0.98% 0.09%
Net charge-offs to
average loans 1.14% 0.41% 0.38% 0.08% 0.50%
Allowance for loan
losses to non-
performing loans 20.67% 23.53% 29.37% 30.39% 26.49%
Allowance for loan
losses to non-
performing assets 18.16% 21.02% 26.81% 25.87% 22.88%
Allowance for loan
losses to total
loans 1.55% 1.75% 1.76% 1.13% 1.12%
DEARBORN BANCORP, INC. AND SUBSIDIARY
NON-GAAP OPERATING EARNINGS INFORMATION
(Dollars, in thousands except share
and per share data)
Quarter Ended
12/31/2008 9/30/2008 6/30/2008 3/31/2008 12/31/2007
Income (loss) from
continuing
operations ($29,407) $1,420 ($4,614) $676 $398
Add: Non-recurring
merger expenses 28 13 49 55 121
Tax effect (10) (4) (17) (19) (41)
After-tax non
operating items 18 9 32 36 80
Core operating
income (loss) ($29,389) $1,429 ($4,582) $712 $478
Quarter Ended
12/31/2008 9/30/2008 6/30/2008 3/31/2008 12/31/2007
Core operating
income (loss) ($29,389) $1,429 ($4,582) $712 $478
Add: Amortization of
intangible assets 0 323 322 323 416
Add: Impairment of
goodwill and
intangible assets 39,601 0 0 0 0
Tax effect (13,464) (110) (109) (110) (141)
After-tax non
operating items 26,137 213 213 213 275
Cash operating
income (loss) ($3,252) $1,642 ($4,369) $925 $751
(Dollars, in thousands
except share and per
share data)
Quarter Ended
12/31/2008 12/31/2007
Income (loss) from continuing
operations ($29,407) $398
After-tax non-recurring
merger expenses 18 80
Core operating income (loss) (29,389) 478
After tax amortization of
intangible assets 26,137 159
Cash operating income (loss) ($3,252) $637
Basic EPS
Quarter Ended
12/31/2008 12/31/2007
Income (loss) from continuing
operations ($3.77) $0.05
After-tax non-recurring
merger expenses $0.00 $0.01
Core operating income (loss) ($3.77) $0.06
After tax amortization of
intangible assets $3.35 $0.02
Cash operating income (loss) ($0.42) $0.08
Diluted EPS
Quarter Ended
12/31/2008 12/31/2007
Income (loss) from continuing
operations ($3.77) $0.05
After-tax non-recurring
merger expenses $0.00 $0.01
Core operating income (loss) ($3.77) $0.06
After tax amortization of
intangible assets $3.35 $0.02
Cash operating income (loss) ($0.42) $0.07
Weighted average shares
outstanding - basic 7,796,354 8,357,909
Weighted average shares
outstanding - diluted 7,796,354 8,504,931
DEARBORN BANCORP, INC. AND SUBSIDIARY
TANGIBLE ASSETS & EQUITY (1)
(Dollars, in thousands) Quarter Ended
12/31/2008 12/31/2007
Average GAAP equity $133,081 $139,845
Goodwill 33,288 34,028
Other intangible assets 9,929 11,438
Deferred taxes 5,872 (988)
49,089 44,478
Average tangible equity $83,992 $95,367
Quarter Ended
12/31/2008 12/31/2007
Average GAAP assets $1,091,120 $1,053,498
Goodwill 33,288 34,028
Other intangible assets 9,929 11,438
Deferred taxes 5,872 (988)
49,089 44,478
Average tangible assets $1,042,031 $1,009,020
(1) The preceding table is based upon the average balance during the
fourth quarter of 2008. On December 30, 2008, the Corporation recorded
impairment of goodwill of $34,028,000 and impairment of other
intangible assets of $5,573,000. The Corporation also recorded a tax
deferred asset of $13,464,000 related to the impairment of goodwill
and other intangible assets.
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(Dollars, in thousands)
Quarter Ended
12/31/08 9/30/08 6/30/08 3/31/08 12/31/07
ASSETS
Cash and cash
equivalents
Cash and due
from banks $11,671 $15,719 $12,779 $12,736 $7,869
Federal funds
sold 4,455 14,281 1,301 1,958 1,495
Interest bearing
deposits with
banks 36,876 33,146 147 105 118
Total cash and
cash equivalents 53,002 63,146 14,227 14,799 9,482
Mortgage loans held
for sale 1,834 281 755 282 1,316
Securities, available
for sale 84,148 2,520 9,381 8,921 8,902
Federal Home Loan
Bank stock 3,614 3,614 3,540 3,540 2,072
Loans
Loans 933,269 939,109 943,635 947,927 952,084
Allowance for loan
loss (14,452) (16,429) (16,638) (10,749) (10,617)
Net loans 918,817 922,680 926,997 937,178 941,467
Bank premises and
equipment, net 21,272 21,491 21,630 22,546 22,782
Real estate owned 9,657 8,343 5,411 6,183 6,319
Goodwill 0 34,028 34,028 34,047 34,028
Other intangible
assets 4,592 10,165 10,487 10,810 11,133
Accrued interest
receivable 3,499 3,601 3,757 4,134 3,816
Other assets 21,483 8,110 7,880 5,189 5,664
Total assets $1,121,918 $1,077,979 $1,038,093 $1,047,629 $1,046,981
LIABILITIES
Deposits
Non-interest
bearing deposits $81,317 $83,555 $82,353 $80,711 $83,594
Interest bearing
deposits 857,078 775,196 741,124 688,492 739,033
Total deposits 938,395 858,751 823,477 769,203 822,627
Other liabilities
Federal funds
purchased 0 0 3,600 56,480 30,100
Securities sold
under agreements
to repurchase 2,461 222 171 275 480
Federal Home Loan
Bank advances 65,019 72,283 65,401 70,795 41,370
Other liabilities 1,037 1,735 1,026 1,017 1,688
Accrued interest
payable 1,695 1,148 2,047 2,548 3,168
Subordinated
debentures 10,000 10,000 10,000 10,000 10,000
Total
liabilities 1,018,607 944,139 905,722 910,318 909,433
Total
stockholders'
equity 103,311 133,840 132,371 137,311 137,548
Total
liabilities
and
stockholders'
equity $1,121,918 $1,077,979 $1,038,093 $1,047,629 $1,046,981
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED INCOME STATEMENT
(Dollars, in thousands)
Quarter ended
12/31/2008 9/30/2008 6/30/2008 3/31/2008 12/31/2007
INTEREST INCOME
Interest on loans,
including fees $14,623 $14,742 $14,994 $16,174 $16,998
Interest on other
earning assets 216 121 131 125 217
Total interest
income 14,839 14,863 15,125 16,299 17,215
INTEREST EXPENSE
Interest on deposits 6,440 5,764 5,874 7,028 8,616
Interest on other
liabilities 855 849 967 1,218 725
Total interest
expense 7,295 6,613 6,841 8,246 9,341
Net interest
income 7,544 8,250 8,284 8,053 7,874
Provision for loan
loss 4,884 90 8,746 886 855
Net interest income
after provision
for loan loss 2,660 8,160 (462) 7,167 7,019
NON-INTEREST EXPENSE
Deposit service
charges 431 426 390 419 371
Gain on the sale of
loans 0 61 51 53 28
Loss on the sale or
write-down of real
estate (1,808) (225) (569) (435) (131)
Other 72 57 73 74 54
Total non-interest
income (1,305) 319 (55) 111 322
NON-INTEREST EXPENSE
Salaries and employee
benefits 3,236 3,413 3,284 3,209 3,318
Occupancy and
equipment expense 981 908 950 913 915
Impairment of goodwill
and other intangible
assets 39,601 0 0 0 0
Other expense 2,211 1,991 2,194 2,116 2,506
Total non-interest
expense 46,029 6,312 6,428 6,238 6,739
Income (loss) before
income tax
provision (44,674) 2,167 (6,945) 1,040 602
Income tax provision
(benefit) (15,267) 747 (2,331) 364 204
Net income (loss) ($29,407) $1,420 ($4,614) $676 $398
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED FINANCIAL DATA
(Dollars in thousands,
except share and per
share data)
Quarter ended
12/31/2008 9/30/2008 6/30/2008 3/31/2008 12/31/2007
EARNINGS SUMMARY
Net interest
income $7,544 $8,250 $8,284 $8,053 $7,874
Provision for
loan loss $4,884 $90 $8,746 $886 $855
Total non-interest
income ($1,305) $319 ($55) $111 $322
Total non-interest
expense $46,029 $6,312 $6,428 $6,238 $6,739
Income taxes ($15,267) $747 ($2,331) $364 $204
Net income (loss) ($29,407) $1,420 ($4,614) $676 $398
Basic earnings per
share ($3.77) $0.18 ($0.57) $0.08 $0.05
Diluted earnings
per share ($3.77) $0.18 ($0.57) $0.08 $0.05
MARKET DATA
Book value per share $13.42 $16.53 $16.43 $16.94 $16.70
Tangible book value
per share $11.16 $11.07 $11.04 $11.56 $11.58
Market value per
share $1.66 $4.99 $4.86 $7.60 $7.73
Average basic
common shares 7,796,354 8,044,180 8,051,037 8,139,721 8,357,909
Average diluted
common shares 7,796,354 8,082,263 8,051,037 8,198,676 8,504,931
Period end common
shares 7,696,204 8,098,557 8,055,698 8,106,413 8,237,413
PERFORMANCE RATIOS
Return on average
assets -10.72% 0.54% -1.77% 0.26% 0.15%
Return on average
equity -87.91% 4.22% -13.45% 1.97% 1.13%
Net interest margin
(FTE) 2.96% 3.41% 3.45% 3.36% 3.22%
Efficiency ratio 572.00% 71.78% 73.06% 72.54% 80.93%
ASSET QUALITY
Net charge-offs
(YTD) $10,771 $3,910 $3,611 $754 $4,683
Nonperforming loans $69,923 $69,811 $56,659 $35,373 $40,078
Other real estate $9,657 $8,343 $5,411 $6,183 $6,319
Nonperforming loans
to total loans 7.49% 7.43% 6.00% 3.73% 4.21%
Nonperforming assets
to total assets 7.09% 7.25% 5.98% 3.97% 4.43%
Allowance for loan
loss to total loans 1.55% 1.75% 1.76% 1.13% 1.12%
CAPITAL & LIQUIDITY
Average equity to
average assets 12.20% 12.85% 13.16% 13.22% 13.27%
Tier 1 capital to
risk weighted assets 9.11% 10.23% 10.21% 10.49% 10.42%
Total capital to risk
weighted assets 10.37% 11.48% 11.46% 11.59% 11.51%
Loan to deposit ratio 99.45% 109.36% 114.59% 123.23% 115.74%
Loan to funding ratio 91.87% 99.77% 104.54% 104.54% 105.25%
END OF PERIOD BALANCES
Total portfolio
loans $933,269 $939,109 $943,635 $947,927 $952,084
Earning assets $1,064,196 $992,951 $958,759 $962,733 $965,987
Total assets $1,121,918 $1,077,979 $1,038,093 $1,047,629 $1,046,981
Deposits $938,395 $858,751 $823,477 $769,203 $822,627
Total shareholders'
equity $103,311 $133,840 $132,371 $137,311 $137,548
AVERAGE BALANCES
Total portfolio
loans $940,195 $944,262 $947,892 $946,697 $950,169
Earning assets $1,010,304 $961,935 $966,437 $961,549 $970,897
Total assets $1,091,120 $1,042,152 $1,048,423 $1,044,159 $1,053,498
Deposits $876,569 $822,424 $807,347 $789,076 $855,931
Total shareholders'
equity $133,081 $133,949 $138,002 $137,990 $139,845
Dearborn Bancorp, Inc.
Loan Information at December 31, 2008
(In thousands) Loan Detail
Accruing Loans
90+
days
30 to 89 past Non-
12/31/08 Current TDR past due due Accrual
Consumer Loans $31,864 $30,652 $0 $127 $0 $1,085
Commercial Loans 164,740 156,135 1,985 1,053 254 5,313
Land Development -
Residential 54,323 37,044 3,843 0 0 13,436
Land Development - Non
Residential 16,094 10,410 0 0 0 5,684
Commercial
Construction Loans -
Residential 17,296 13,228 0 0 0 4,068
Commercial
Construction Loans -
Non Residential 25,322 23,706 0 0 0 1,616
Commercial Mortgage
Loans 571,204 532,977 11,937 5,583 196 20,511
Residential Mortgages
Loans 52,426 51,233 0 286 0 907
Totals $933,269 $855,385 $17,765 $7,049 $450 $52,620
(In thousands) Other Related Data
Allowance Year to Date Other Real
For Loan Net Charge- Estate
Losses Offs Owned
Consumer Loans $163 $299 $0
Commercial Loans 1,532 4,187 1,586
Land Development - Residential 3,663 2,636 4,089
Land Development - Non Residential 1,922 0 282
Commercial Construction Loans -
Residential 1,316 801 1,975
Commercial Construction Loans - Non
Residential 1,149 131 0
Commercial Mortgage Loans 4,509 2,425 1,003
Residential Mortgages Loans 198 292 722
Totals 14,452 $10,771 $9,657
Unallocated 0
Total $14,452
Loan Information at September 30, 2008
(In thousands) Loan Detail
Accruing Loans
30 to 89 90+ days Non-
9/30/08 Current TDR past due past due Accrual
Consumer Loans $32,472 $30,993 $0 $333 $128 $1,018
Commercial Loans 162,311 152,665 1,934 1,972 93 5,647
Land Development -
Residential 56,878 42,352 4,381 820 0 9,325
Land Development -
Non Residential 17,894 12,295 671 860 0 4,068
Commercial
Construction Loans
- Residential 20,573 12,909 1,168 0 0 6,496
Commercial
Construction Loans
- Non Residential 30,145 23,901 2,558 492 0 3,194
Commercial Mortgage
Loans 565,365 533,592 4,616 3,494 2,810 20,853
Residential
Mortgages Loans 53,471 52,172 0 448 110 741
Totals $939,109 $860,879 $15,328 $8,419 $3,141 $51,342
(In thousands) Other Related Data
Allowance Year to Date Other Real
For Loan Net Charge- Estate
Losses Offs Owned
Consumer Loans $367 $160 $0
Commercial Loans 1,076 3,094 125
Land Development - Residential 4,072 229 4,425
Land Development - Non Residential 1,791 0 343
Commercial Construction Loans -
Residential 3,069 0 729
Commercial Construction Loans - Non
Residential 843 58 0
Commercial Mortgage Loans 4,672 185 2,049
Residential Mortgages Loans 539 184 672
Totals 16,429 $3,910 $8,343
Unallocated 0
Total $16,429
Loan Information at June 30, 2008
(In thousands) Loan Detail
Accruing Loans
30 to 89 90+ days Non-
6/30/08 Current TDR past due past due Accrual
Consumer Loans $33,206 $31,822 $0 $1,007 $216 $161
Commercial Loans 169,956 161,781 1,757 3,583 639 2,196
Land Development -
Residential 60,170 47,449 2,606 0 693 9,422
Land Development -
Non Residential 21,000 16,261 0 789 0 3,950
Commercial
Construction Loans -
Residential 20,605 13,725 1,080 96 606 5,098
Commercial
Construction Loans -
Non Residential 35,087 28,788 3,086 0 0 3,213
Commercial Mortgage
Loans 549,145 523,047 4,616 5,748 5,021 10,713
Residential Mortgages
Loans 54,466 51,408 0 1,472 144 1,442
Totals $943,635 $874,281 $13,145 $12,695 $7,319 $36,195
(In thousands) Other Related Data
Year to
Date Other
Allowance Net Real
For Loan Charge- Estate
Losses Offs Owned
Consumer Loans $339 $165 $70
Commercial Loans 890 3,096 280
Land Development - Residential 5,021 0 1,133
Land Development - Non Residential 1,923 0 343
Commercial Construction Loans -
Residential 2,780 0 1,227
Commercial Construction Loans - Non
Residential 1,118 58 0
Commercial Mortgage Loans 4,049 186 2,180
Residential Mortgages Loans 518 106 178
Totals 16,638 $3,611 $5,411
Unallocated 0
Total $16,638
Loan Information at March 31, 2008
(In thousands) Loan Detail
Accruing Loans
30 to 89 90+ days Non-
3/31/08 Current TDR past due past due Accrual
Consumer Loans $34,494 $33,484 $0 $395 $453 $162
Commercial Loans 169,659 163,648 917 2,834 711 1,549
Land Development -
Residential 61,638 48,316 2,576 2,490 0 8,256
Land Development -
Non Residential 16,372 12,422 0 0 3,950 0
Commercial
Construction Loans
- Residential 26,004 20,701 1,535 988 130 2,650
Commercial
Construction Loans
- Non Residential 38,885 32,420 3,259 3,206 0 0
Commercial Mortgage
Loans 543,778 527,502 424 8,446 4,014 3,392
Residential
Mortgages Loans 57,097 54,731 0 969 0 1,397
Totals $947,927 $893,224 $8,711 $19,328 $9,258 $17,406
(In thousands) Other Related Data
Year to
Date
Allowance Net
For Loan Charge- Other Real
Losses Offs Estate Owned
Consumer Loans $410 $93 $70
Commercial Loans 1,479 630 530
Land Development - Residential 2,040 0 422
Land Development - Non Residential 229 0 343
Commercial Construction Loans -
Residential 562 6 2,334
Commercial Construction Loans - Non
Residential 546 0 0
Commercial Mortgage Loans 4,804 (1) 2,484
Residential Mortgages Loans 630 26 0
Totals 10,700 $754 $6,183
Unallocated 49
Total $10,749
Loan Information at December 31, 2007
(In thousands) Loan Detail
Accruing Loans
90+
days
30 to 89 past Non-
12/31/07 Current TDR past due due Accrual
Consumer Loans $35,833 $34,349 $0 $1,023 $31 $430
Commercial Loans 174,958 $170,026 944 2,865 62 1,061
Land Development -
Residential 63,639 $53,753 1,260 0 0 8,626
Land Development - Non
Residential 10,156 $10,156 0 0 0 0
Commercial
Construction Loans -
Residential 33,768 $29,586 0 0 0 4,182
Commercial
Construction Loans -
Non Residential 40,187 $40,187 0 0 0 0
Commercial Mortgage
Loans 539,306 $516,404 18,873 700 0 3,329
Residential Mortgages
Loans 54,237 $52,475 0 482 791 489
Totals $952,084 $906,936 $21,077 $5,070 $884 $18,117
Loan Information at December 31, 2007
(In thousands) Other Related Data
Allowance Year to Date Other Real
For Loan Net Charge- Estate
Losses Offs Owned
Consumer Loans $451 $201 $0
Commercial Loans 1,400 690 1,724
Land Development - Residential 2,209 1,665 219
Land Development - Non Residential 117 0 343
Commercial Construction Loans -
Residential 712 1,285 759
Commercial Construction Loans - Non
Residential 551 0 0
Commercial Mortgage Loans 4,555 522 3,274
Residential Mortgages Loans 488 320 0
Totals 10,483 $4,683 $6,319
Unallocated 134
Total $10,617
SOURCE Dearborn Bancorp, Inc.
