The increase is due primarily to the growth in net loans, the increase in interest-bearing deposits in other banks partially offset by the decrease in the securities portfolio. The increase is due primarily to an increase in funds on deposit at the FHLB resulting from the excess cash provided by the net increases in deposits and FHLB advances. The Company ceases to accrue interest on a loan once it is placed on nonaccrual status, and interest accrued but unpaid at the time is charged against interest income. Additionally, any loan where it appears evident that the collection of interest is in doubt is also placed on a nonaccrual status. The Company carries real estate owned at the lower of cost or fair value, less cost to dispose.
Management regularly reviews assets to determine proper valuation.
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