Navy Federal Credit Union 2011 Annual Report Download - page 34

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NAVY FEDERAL CREDIT UNION18
In subsequent periods, income is recognized based on a loan’s modied expected cash ows and revised eective rate. Additional impairment is
recognized for TDRs that exhibit further credit deterioration aer modication. For the year ended December 31, 2011, TDRs that were more than
60 days delinquent within the rst 12 months totaled $5.3 million which included $0.4 million of real estate, $1.3 million of consumer loans and
$3.6 million of credit card.
For TDRs, the cumulative total loan amount, related impairment, average loan balance and interest recognized for the year ended December 31, 2011
was as follows:
Note 7: Acquired Credit-Impaired Loans
Navy Federal applied ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, in connection with the acquisition of USAFCU
on October 1, 2010. e carrying value of these acquired credit-impaired loans is included in the balance sheet amounts of loans held for investment.
eir outstanding balances at December 31 were as follows:
(dollars in thousands) 2011 2010
Impaired Loans
Outstanding balance $ 81,516 $ 97,336
Carrying amount 47,560 64,571
(dollars in thousands) 2011
Loan Amount Average Balance Interest Impairment
Consumer $ 84,053 $ 106,659 $ 6,742 $ 7,141
Credit card 150,067 127,623 8,322 32,873
Real estate 439,356 406,515 9,908 41,343
Total $ 673,476 $ 640,797 $ 24,972 $ 81,357
(dollars in thousands) 2010
Loan Amount Impairment
Consumer $ 129,265 $ 15,761
Credit card 105,179 27,024
Real estate 373,674 40,614
Total $ 608,118 $ 83,399
TDR loan amounts and related impairment at December 31, 2010 was as follows:
At December 31, 2011 and 2010, the amount of loan commitments available to members that have previously been through a TDR was $28.4 million
and $13.0 million, respectively.