The louder a bank screams, the more unprepared it is to deal with nonperforming loans and mark-to-market valuations of garbage held on its balance sheet.
Since 2003, large banks and insurance companies have restructured to improve financial soundness, reduced nonperforming loans, and strengthened their capital positions considerably.
Total nonperforming assets, namely non-accrual loans and foreclosed assets, were reduced by $4 million, or 33%, during 2016, including the return to accrual status of our single largest remaining nonperforming loan.