Significant increase in net gains from sale of foreclosed assets was likewise reported, highlighting the bank's continued efforts to reduce nonearning assets.
Non-interest expense was $11.2 million as compared to $11.9 million for the fourth quarter of 2015, primarily because of a reduction in expenses related to foreclosed assets and problem credit relationships.
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.