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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[ ]
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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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 July 28, 2011.
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KAISER FEDERAL FINANCIAL GROUP, INC.
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DATE: July 28, 2011
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By:
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/s/ Jean M. Carandang
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Jean M. Carandang
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Chief Financial Officer
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(Duly Authorized Representative)
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Selected Financial Condition Data and Ratios:
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June 30,
2011
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June 30,
2010
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||||||
Total assets
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$ | 856,439 | $ | 866,802 | ||||
Gross loans receivable
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708,013 | 771,294 | ||||||
Allowance for loan losses
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(11,367 | ) | (13,309 | ) | ||||
Cash and cash equivalents
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89,654 | 39,560 | ||||||
Securities available-for-sale, at fair value
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16,038 | 2,290 | ||||||
Total deposits
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634,709 | 630,694 | ||||||
Borrowings
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60,000 | 137,000 | ||||||
Total stockholders’ equity
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$ | 157,399 | $ | 94,705 | ||||
Asset Quality Ratios:
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||||||||
Equity to total assets
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18.38 | % | 10.93 | % | ||||
Delinquent loans 60 days or more to total loans
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1.48 | % | 2.28 | % | ||||
Non-performing loans to total loans
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3.73 | % | 4.08 | % | ||||
Non-performing assets to total assets
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3.18 | % | 3.79 | % | ||||
Net charge-offs to average loans outstanding
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0.39 | % | 0.15 | % | ||||
Allowance for loan losses to total loans
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1.61 | % | 1.73 | % | ||||
Allowance for loan losses to non-performing loans
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43.06 | % | 42.32 | % |
Twelve Months Ended
June 30,
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||||||||
Selected Operating Data and Ratios:
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2011
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2010
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Interest income
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$ | 43,586 | $ | 45,014 | ||||
Interest expense
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(13,940 | ) | (18,088 | ) | ||||
Net interest income
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29,646 | 26,926 | ||||||
Provision for loan losses
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(950 | ) | (9,867 | ) | ||||
Net interest income after provision for loan losses
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28,696 | 17,059 | ||||||
Noninterest income
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4,478 | 4,689 | ||||||
Noninterest expense
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(19,541 | ) | (17,022 | ) | ||||
Income before income tax expense
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13,633 | 4,726 | ||||||
Income tax expense
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(4,880 | ) | (1,386 | ) | ||||
Net income
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$ | 8,753 | $ | 3,340 | ||||
Net income per share – basic and diluted
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$ | 0.95 | $ | 0.35 | ||||
Return on average assets
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1.00 | % | 0.38 | % | ||||
Return on average equity
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6.62 | % | 3.58 | % | ||||
Net interest margin
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3.54 | % | 3.18 | % | ||||
Efficiency ratio
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57.26 | % | 53.84 | % |
At June 30,
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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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$ | 9,513 | $ | 15,561 | ||||
Multi-family residential
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1,757 | 2,786 | ||||||
Commercial
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2,252 | — | ||||||
Other loans:
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Automobile
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— | — | ||||||
Home equity
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— | 63 | ||||||
Other
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5 | 4 | ||||||
Troubled debt restructurings:
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One-to-four family
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8,872 | 9,193 | ||||||
Multi-family residential
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1,332 | 1,179 | ||||||
Commercial
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2,665 | 2,665 | ||||||
Total non-accrual loans
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26,396 | 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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828 | 1,373 | ||||||
Multi-family residential
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— | — | ||||||
Commercial
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— | — | ||||||
Other:
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Automobile
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10 | — | ||||||
Home equity
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— | — | ||||||
Other
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— | — | ||||||
Total real estate owned and repossessed assets
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838 | 1,373 | ||||||
Total non-performing assets
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$ | 27,234 | $ | 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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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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At June 30, 2011
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Real estate loans:
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One-to-four family
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2
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$
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1,043
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17
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$
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6,583
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19
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$
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7,626
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Multi-family residential
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1
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457
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1
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1,757
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2
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2,214
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Commercial
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—
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—
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1
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637
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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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1
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6
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—
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—
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1
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6
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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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1
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3
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3
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5
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4
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8
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Total loans
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5
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$
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1,509
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22
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$
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8,982
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27
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$
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10,491
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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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