Maryland
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001-34979
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26-1500698
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(State or other jurisdiction of incorporation)
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(Commission File No.)
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(I.R.S. Employer Identification No.)
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1359 N. Grand Avenue, Covina, CA 91724
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(Address of principal executive offices)
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(626) 339-9663
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Registrant's telephone number, including area code:
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Not Applicable
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(Former name or former address, if changed since last report)
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(a)
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No financial statements of businesses acquired are required.
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(b)
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No pro forma financial information is required.
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(c)
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Not Applicable.
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(d)
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Exhibits.
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99.1
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Press release dated May 6, 2011.
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KAISER FEDERAL FINANCIAL GROUP, INC.
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|||
Date: May 6, 2011
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By:
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/s/ K. M. Hoveland
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K. M. Hoveland
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|||
Chief Executive Officer
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Selected Financial Condition Data and Ratios:
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March 31,
2011
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June 30,
2010
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||||||
Total assets
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$ | 901,962 | $ | 866,802 | ||||
Gross loans receivable
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713,764 | 771,294 | ||||||
Allowance for loan losses
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(11,824 | ) | (13,309 | ) | ||||
Cash and cash equivalents
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140,167 | 39,560 | ||||||
Total deposits
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656,854 | 630,694 | ||||||
Borrowings
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85,000 | 137,000 | ||||||
Total stockholders’ equity
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$ | 155,357 | $ | 94,705 | ||||
Asset Quality Ratios:
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||||||||
Equity to total assets
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17.22 | % | 10.93 | % | ||||
Delinquent loans 60 days or more to total loans
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1.45 | % | 2.28 | % | ||||
Non-performing loans to total loans
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4.06 | % | 4.08 | % | ||||
Non-performing assets to total assets
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3.39 | % | 3.79 | % | ||||
Net charge-offs to average loans outstanding (YTD annualized)
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0.43 | % | 0.15 | % | ||||
Allowance for loan losses to total loans
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1.66 | % | 1.73 | % | ||||
Allowance for loan losses to non-performing loans
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40.85 | % | 42.32 | % | ||||
Selected Operating Data and Ratios:
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Three Months Ended
March 31,
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Nine Months Ended
March 31,
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||||||||||||||
2011
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2010
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2011
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2010
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|||||||||||||
Interest income
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$ | 10,695 | $ | 11,251 | $ | 33,085 | $ | 33,788 | ||||||||
Interest expense
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(3,159 | ) | (4,341 | ) | (10,864 | ) | (13,926 | ) | ||||||||
Net interest income
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7,536 | 6,910 | 22,221 | 19,862 | ||||||||||||
Provision for loan losses
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— | (2,272 | ) | (950 | ) | (8,787 | ) | |||||||||
Net interest income after provision for loan losses
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7,536 | 4,638 | 21,271 | 11,075 | ||||||||||||
Noninterest income
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1,158 | 1,115 | 3,371 | 3,508 | ||||||||||||
Noninterest expense
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(5,003 | ) | (4,250 | ) | (14,529 | ) | (12,843 | ) | ||||||||
Income before income tax expense
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3,691 | 1,503 | 10,113 | 1,740 | ||||||||||||
Income tax expense
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(1,430 | ) | (394 | ) | (3,818 | ) | (427 | ) | ||||||||
Net income
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$ | 2,261 | $ | 1,109 | $ | 6,295 | $ | 1,313 | ||||||||
Net income per share – basic and diluted
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$ | 0.25 | $ | 0.12 | $ | 0.68 | $ | 0.14 | ||||||||
Return on average assets (annualized)
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1.02 | % | 0.50 | % | 0.96 | % | 0.20 | % | ||||||||
Return on average equity (annualized)
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5.86 | % | 4.79 | % | 6.72 | % | 1.88 | % | ||||||||
Net interest margin (annualized)
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3.57 | % | 3.25 | % | 3.54 | % | 3.11 | % | ||||||||
Efficiency ratio
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57.55 | % | 52.96 | % | 56.77 | % | 54.95 | % | ||||||||
At March 31,
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At June 30,
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|||||||
Non-accrual loans:
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2011
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2010
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||||||
Real estate loans:
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||||||||
One-to-four family
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$ | 12,764 | $ | 15,561 | ||||
Multi-family residential
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1,757 | 2,786 | ||||||
Commercial
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2,261 | — | ||||||
Other loans:
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||||||||
Automobile
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7 | — | ||||||
Home equity
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— | 63 | ||||||
Other
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2 | 4 | ||||||
Troubled debt restructurings:
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||||||||
One-to-four family
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8,158 | 9,193 | ||||||
Multi-family residential
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1,333 | 1,179 | ||||||
Commercial
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2,665 | 2,665 | ||||||
Total non-accrual loans
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28,947 | 31,451 | ||||||
Real estate owned and repossessed assets:
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||||||||
Real estate:
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||||||||
One-to-four family
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1,094 | 1,373 | ||||||
Multi-family residential
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529 | — | ||||||
Commercial
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— | — | ||||||
Other:
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||||||||
Automobile
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7 | — | ||||||
Home equity
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— | — | ||||||
Other
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— | — | ||||||
Total real estate owned and repossessed assets
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1,630 | 1,373 | ||||||
Total non-performing assets
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$ | 30,577 | $ | 32,824 | ||||
Loans Delinquent :
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|||||||||||||||
60-89 Days
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90 Days or More
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Total Delinquent Loans
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|||||||||||||
Number of Loans
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Amount
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Number of Loans
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Amount
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Number of Loans
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Amount
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||||||||||
Delinquent Loans:
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|||||||||||||||
At March 31, 2011
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|||||||||||||||
Real estate loans:
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|||||||||||||||
One-to-four family
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1
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$
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616
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21
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$
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7,349
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22
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$
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7,965
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||||||
Multi-family residential
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—
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—
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1
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1,757
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1
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1,757
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|||||||||
Commercial
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1
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637
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—
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—
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1
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637
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|||||||||
Other loans:
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|||||||||||||||
Automobile
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—
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—
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1
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7
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1
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7
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|||||||||
Home equity
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—
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—
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—
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—
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—
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—
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|||||||||
Other
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—
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—
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1
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2
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1
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2
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|||||||||
Total loans
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2
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$
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1,253
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24
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$
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9,115
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26
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$
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10,368
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||||||
At June 30, 2010
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|||||||||||||||
Real estate loans:
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|||||||||||||||
One-to-four family
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3
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$
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1,297
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33
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$
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13,373
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36
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$
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14,670
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||||||
Multi-family residential
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—
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—
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2
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2,786
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2
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2,786
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|||||||||
Commercial
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—
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—
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—
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—
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—
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—
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|||||||||
Other loans:
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|||||||||||||||
Automobile
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4
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35
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—
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—
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4
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35
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|||||||||
Home equity
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—
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—
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1
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63
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1
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63
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|||||||||
Other
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—
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—
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2
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4
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2
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4
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|||||||||
Total loans
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7
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$
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1,332
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38
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$
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16,226
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45
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$
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17,558
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