http://www.alzheimerforum.ch/index.php?option=com_content&task=view&id=34&Itemid=
Although deposits rose dramatically and mortgaged refinancing activity reached record levels in the problem loans caused increases in loss dragging downnet income. “Just like all the othetr banks, we’ve had to increase our loan-loss provisionas in the past year,” said Marc Maun, chairman and CEO of . “Bu t in the last quarter, we’ve started to feel like we’ve finalluy got our hands around it. We’ve got our asset-qualitu issues sized and know exactly whatthey are. We no longerr see the significant movement or risk of furthere sizable deterioration thatcreated life-threatening concerns for many banks. To us, that seems a sign of thinges bottoming out.
” Maun said the mortgagew businesswas “off the charts” in the first quarter, mainly from refinancinh as interest rates hit record lows. It continuer into the second quarter, he said, but rateas are starting to creep up, so it’xs hard to know how long it will continue.
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