Oorspronkelijke tekst
Deze vertaling beoordelen
Je feedback wordt gebruikt om Google Translate te verbeteren
Home
Bank Of The James Financial Group
Bank of the James Announces Fourth Quarter, Full Year 2025 Financial Results
Business
Feb 4 2026
17 min read

Bank of the James Announces Fourth Quarter, Full Year 2025 Financial Results

news images

Bank of the James Reports 2025 Net Income of $9.02 Million; Record Annual Earnings; Improved Metrics

LYNCHBURG, Va., Feb. 04, 2026 (GLOBE NEWSWIRE) -- Bank of the James Financial Group, Inc. (the “Company”) (NASDAQ:BOTJ), the parent company of Bank of the James (the “Bank”), a full-service commercial and retail bank, and Pettyjohn, Wood & White, Inc. (“PWW”), an SEC-registered investment advisor, today announced unaudited results of operations for the three-and twelve-month periods ended December 31, 2025. The Bank serves Region 2000 (the greater Lynchburg metropolitan statistical area) and the Blacksburg, Buchanan, Charlottesville, Harrisonburg, Lexington, Nellysford, Roanoke, and Wytheville, Virginia markets.

Fourth Quarter and Full Year 2025 Highlights

  • Record annual earnings of $9.02 million for the year ended December 31, 2025, an increase of $1.08 million, or 13.6%, from $7.94 million in 2024. Earnings per share increased to $1.99 from $1.75, representing a 13.6% improvement.

  • Fourth quarter net income was $2.72 million, compared to $1.62 million in the fourth quarter of 2024. Fourth quarter earnings per share were $0.60 compared to $0.36 in the fourth quarter of 2024.

  • Total assets increased to $1.04 billion at December 31, 2025, up $59.78 million, or 6.1%, from $979.24 million at December 31, 2024.

  • Loans, net of allowance for credit losses, increased to $661.36 million at December 31, 2025, up $24.81 million, or 3.9%, from $636.55 million at December 31, 2024.

  • Total deposits increased to $937.13 million at December 31, 2025, up $54.73 million, or 6.2%, from $882.40 million at December 31, 2024, driven by growth in core deposits.

  • Net interest income increased 11.1% to $8.54 million in the fourth quarter of 2025, up from $7.69 million a year earlier. For the full year 2025, net interest income increased 12.2% to $32.81 million from $29.24 million in 2024.

  • Net interest margin for the three months ended December 31, 2025, was 3.44% compared with 3.18% for the three months ended December 31, 2024. For the twelve months ended December 31, 2025, net interest margin was 3.39% compared to 3.11% for the twelve months ended December 31, 2024.

  • Interest expense decreased 12.1% in the fourth quarter of 2025 to $3.47 million from $3.95 million in the fourth quarter of 2024. For the full year, interest expense declined 10.1% to $13.85 million from $15.41 million, driven by lower deposit costs and the retirement of capital notes.

  • Efficiency ratio (non-interest expense divided by the sum of net interest income and noninterest income) improved to 70.81% in the fourth quarter of 2025 from 82.62% in the fourth quarter of 2024. For the full year, the efficiency ratio improved to 77.17% from 79.11% for the prior year, as revenue growth of 9.7% outpaced expense growth of 7.0%.

  • Wealth management fees from PWW increased 10.4% to $5.35 million in 2025 from $4.84 million in 2024, contributing approximately $0.38 per share to earnings.

  • Stockholders’ equity increased to $80.05 million at December 31, 2025 from $64.87 million at December 31, 2024, an increase of 23.4%. Book value per share rose to $17.62 from $14.28.

  • Pre-tax, pre-provision income increased to $3.76 million in the fourth quarter of 2025, compared to $2.00 million in the fourth quarter of 2024. For full year 2025, pre-tax, pre-provision income was $11.1 million, compared to $9.27 million for 2024, an increase of 19.9%.

Fourth Quarter, Full Year 2025 Operational Review

Robert R. Chapman III, CEO of the Bank, commented: “We had record annual earnings of $9.02 million in 2025, up 13.6% from 2024. Margin improved as we managed deposit pricing and loan yields, and interest expense declined after we retired approximately $10.05 million in capital notes earlier in the year. Fourth-quarter noninterest expense also declined as we reduced data processing costs and professional fees. We will carry that same focus on pricing, costs, and credit into 2026.”

Mike Syrek, President of the Bank added: “On the expense side, vendor renegotiations and lower professional fees reduced fourth-quarter noninterest expense, and we expect those savings to continue into 2026. Our efficiency ratio improved dramatically throughout the year, reflecting the progress we’ve made on the expense side. Continuing to improve efficiency remains a key focus in 2026.”

Net interest income, for the fourth quarter of 2025 was $8.54 million, up 11.1% from $7.69 million in the fourth quarter of 2024. For the full year 2025, net interest income grew $3.57 million, or 12.2%, to $32.81 million from $29.24 million in 2024.

Total interest income was $12.01 million in the fourth quarter of 2025 compared with $11.64 million a year earlier. For the full year 2025, total interest income rose to $46.66 million from $44.64 million in 2024. Quarter-to-date and year-to-date growth was driven largely by higher rates on variable-rate commercial loans and the origination of new loans at current market rates.

Total interest expense in the fourth quarter of 2025 declined 12.1% to $3.47 million compared with $3.95 million in the fourth quarter of 2024. For the full year 2025, total interest expense declined to $13.85 million from $15.41 million in the prior year. Lower interest expense in both periods primarily reflected the moderately easing rate environment, the Bank’s active management of deposit pricing, and the retirement of approximately $10.05 million in capital notes at the end of the second quarter of 2025.

Net interest margin and interest spread improved during the past year as loan yields remained aligned with the interest rate environment and the Bank controlled deposit costs and borrowings. Net interest margin of 3.44% in the fourth quarter of 2025 increased from both the second and third quarters of 2025.

Noninterest income in the fourth quarter of 2025 was $4.33 million compared with $3.82 million in the fourth quarter of 2024, an increase of 13.3%. Noninterest income for the full year 2025 was $15.85 million compared with $15.14 million in 2024, an increase of 4.7%. Most noninterest income in both periods came from gains on sale of loans held for sale by our mortgage division, wealth management fees generated by PWW, and service charges, fees and commissions from commercial treasury services and debit card activity. Growth in management fees generated by PWW resulted from an increase in assets under management.

Noninterest expense in the fourth quarter of 2025 was $9.11 million compared with $9.50 million a year earlier, a decrease of 4.2%. The improvement reflects reduced data processing costs from successful vendor negotiations and lower professional fees.

For the full year 2025, noninterest expense was $37.55 million compared with $35.11 million in 2024. The year-over-year increase was primarily due to increased salaries and employee benefits, including the addition of revenue-generating employees and new banking facilities in strategic locations, partially offset by reductions in data processing.

Balance Sheet: Asset Growth

Total assets were $1.04 billion at December 31, 2025 compared with $979.24 million at December 31, 2024. The increase was due primarily to growth in loans and securities available-for-sale.

Syrek commented: “We finished 2025 with over $1 billion in assets, supported by loan and deposit growth. Net loans increased 3.9% year over year, and the allowance for credit losses ended the year at $6.45 million. We were able to grow loans without compromising our credit standards.”

Loans, net of allowance for credit losses, were $661.36 million at December 31, 2025 compared with $636.55 million at December 31, 2024, an increase of $24.81 million, or 3.9%. The allowance for credit losses was $6.45 million at December 31, 2025 and $7.04 million at December 31, 2024.

Total deposits were $937.13 million at December 31, 2025 compared with $882.40 million at December 31, 2024, an increase of $54.73 million, or 6.2%. Core deposits (noninterest bearing demand deposits, NOW, money market and savings) were $701.80 million compared with $651.90 million at December 31, 2024, an increase of $49.90 million, or 7.7%, driven by growth in lower-cost core deposits.

Stockholders’ equity rose to $80.05 million at December 31, 2025 from $64.87 million at December 31, 2024, an increase of 23.4%. Retained earnings increased to $50.01 million at December 31, 2025 from $42.80 million at December 31, 2024. Book value per share rose to $17.62 at December 31, 2025 from $14.28 at December 31, 2024, reflecting both retained earnings growth and improved valuations in the Company’s available-for-sale investment portfolio as market interest rates declined.

About the Company

Bank of the James, a wholly-owned subsidiary of Bank of the James Financial Group, Inc. opened for business in July 1999 and is headquartered in Lynchburg, Virginia. The Bank currently services customers in Virginia from offices located in Altavista, Amherst, Appomattox, Bedford, Blacksburg, Buchanan, Charlottesville, Forest, Harrisonburg, Lexington, Lynchburg, Madison Heights, Nellysford, Roanoke, Rustburg, and Wytheville. The Bank offers full investment and insurance services through its BOTJ Investment Services division and BOTJ Insurance, Inc. subsidiary. The Bank provides mortgage loan origination through Bank of the James Mortgage, a division of Bank of the James. The Company provides investment advisory services through its wholly-owned subsidiary, Pettyjohn, Wood & White, Inc., an SEC-registered investment advisor. Bank of the James Financial Group, Inc. common stock is listed under the symbol “BOTJ” on the NASDAQ Stock Market, LLC. Additional information on the Company is available at: www.bankofthejames.bank.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “plan” and similar expressions and variations thereof identify certain of such forward-looking statements which speak only as of the date on which they were made. Bank of the James Financial Group, Inc. (the “Company”) undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Such factors include, but are not limited to, competition, general economic conditions, potential changes in interest rates, changes in the value of real estate securing loans made by the Bank, as well as geopolitical conditions. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company’s filings with the Securities and Exchange Commission.

CONTACT: Eric J. Sorenson, Jr., Executive Vice President and Chief Financial Officer of the Bank, (434) 846-2000.

FINANCIAL RESULTS FOLLOW

Bank of the James Financial Group, Inc. and Subsidiaries
Consolidated Balance Sheets
(dollar amounts in thousands, except per share amounts)

 

(unaudited)

 

 

Assets

12/31/2025

 

12/31/2024

 

 

 

 

Cash and due from banks

$

28,538

 

 

$

23,287

 

Federal funds sold

 

55,937

 

 

 

50,022

 

Total cash and cash equivalents

 

84,475

 

 

 

73,309

 

 

 

 

 

Securities held-to-maturity, at amortized cost (fair value of $3,315 as of December 31, 2025 and $3,170 as of December 31, 2024) net of allowance for credit losses of $0 as of December 31, 2025 and December 31, 2024

 

3,590

 

 

 

3,606

 

Securities available-for-sale, at fair value

 

214,128

 

 

 

187,916

 

Restricted stock, at cost

 

1,828

 

 

 

1,821

 

Loans, net of allowance for credit losses of $6,450 as of December 31, 2025 and $7,044 as of December 31, 2024

 

661,357

 

 

 

636,552

 

Loans held for sale

 

3,472

 

 

 

3,616

 

Premises and equipment, net

 

19,132

 

 

 

19,313

 

Interest receivable

 

3,380

 

 

 

3,065

 

Cash value - bank owned life insurance

 

23,676

 

 

 

22,907

 

Customer relationship intangible

 

6,164

 

 

 

6,725

 

Goodwill

 

2,054

 

 

 

2,054

 

Other assets

 

15,768

 

 

 

18,360

 

Total assets

$

1,039,024

 

 

$

979,244

 

 

 

 

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

Deposits

 

 

 

Noninterest bearing demand

$

131,456

 

 

$

129,692

 

NOW, money market and savings

 

570,345

 

 

 

522,208

 

Time

 

235,328

 

 

 

230,504

 

Total deposits

 

937,129

 

 

 

882,404

 

 

 

 

 

Capital notes, net

 

-

 

 

 

10,048

 

Other borrowings

 

8,796

 

 

 

9,300

 

Interest payable

 

1,167

 

 

 

722

 

Other liabilities

 

11,884

 

 

 

11,905

 

Total liabilities

$

958,976

 

 

$

914,379

 

 

 

 

 

Stockholders’ equity

 

 

 

Common stock $2.14 par value; authorized 10,000,000 shares; issued and outstanding

 

 

 

4,543,338 as of December 31, 2025 and December 31, 2024

$

9,723

 

 

$

9,723

 

Additional paid-in-capital

 

35,253

 

 

 

35,253

 

Retained earnings

 

50,009

 

 

 

42,804

 

Accumulated other comprehensive loss

 

(14,937

)

 

 

(22,915

)

Total stockholders’ equity

$

80,048

 

 

$

64,865

 

 

 

 

 

Total liabilities and stockholders’ equity

$

1,039,024

 

 

$

979,244

 


Bank of the James Financial Group, Inc. and Subsidiaries

Consolidated Statements of Income
(dollar amounts in thousands, except per share amounts)
(unaudited)

 

For the Three Months

 

For the Twelve Months

 

Ended December 31,

 

Ended December 31,

Interest Income

2025

 

 

2024

 

 

 

2025

 

 

 

2024

 

Loans

$

9,515

 

$

9,130

 

 

$

37,254

 

 

$

34,505

 

Securities

 

 

 

 

 

 

 

US Government and agency obligations

 

579

 

 

403

 

 

 

2,121

 

 

 

1,471

 

Mortgage backed securities

 

395

 

 

407

 

 

 

1,545

 

 

 

2,381

 

Municipals - taxable

 

397

 

 

299

 

 

 

1,393

 

 

 

1,171

 

Municipals - tax exempt

 

53

 

 

18

 

 

 

135

 

 

 

73

 

Dividends

 

35

 

 

36

 

 

 

98

 

 

 

95

 

Corporates

 

123

 

 

136

 

 

 

530

 

 

 

543

 

Interest bearing deposits

 

159

 

 

147

 

 

 

559

 

 

 

775

 

Federal Funds sold

 

756

 

 

1,060

 

 

 

3,020

 

 

 

3,629

 

Total interest income

 

12,012

 

 

11,636

 

 

 

46,655

 

 

 

44,643

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

 

 

 

 

 

 

Deposits

 

 

 

 

 

 

 

NOW, money market savings

 

1,170

 

 

1,310

 

 

 

4,949

 

 

 

5,455

 

Time Deposits

 

2,144

 

 

2,442

 

 

 

8,282

 

 

 

9,173

 

Finance leases

 

15

 

 

18

 

 

 

65

 

 

 

76

 

Other borrowings

 

145

 

 

98

 

 

 

389

 

 

 

376

 

Capital notes

 

-

 

 

82

 

 

 

163

 

 

 

327

 

Total interest expense

 

3,474

 

 

3,950

 

 

 

13,848

 

 

 

15,407

 

 

 

 

 

 

 

 

 

Net interest income

 

8,538

 

 

7,686

 

 

 

32,807

 

 

 

29,236

 

 

 

 

 

 

 

 

 

Provision for (recovery of) credit losses

 

266

 

 

(71

)

 

 

(35

)

 

 

(655

)

 

 

 

 

 

 

 

 

Net interest income after provision for (recovery of) credit losses

 

8,272

 

 

7,757

 

 

 

32,842

 

 

 

29,891

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noninterest income

 

 

 

 

 

 

 

Gains on sale of loans held for sale

 

1,185

 

 

968

 

 

 

4,853

 

 

 

4,494

 

Service charges, fees and commissions

 

1,271

 

 

1,073

 

 

 

4,273

 

 

 

4,003

 

Wealth management fees

 

1,430

 

 

1,260

 

 

 

5,347

 

 

 

4,843

 

Life insurance income

 

197

 

 

190

 

 

 

770

 

 

 

721

 

Income from SBIC fund

 

228

 

 

334

 

 

 

506

 

 

 

934

 

Other

 

14

 

 

11

 

 

 

76

 

 

 

80

 

Gain on sales of available-for-sale securities

 

-

 

 

(20

)

 

 

27

 

 

 

62

 

Total noninterest income

 

4,325

 

 

3,816

 

 

 

15,852

 

 

 

15,137

 

 

 

 

 

 

 

 

 

Noninterest expenses

 

 

 

 

 

 

 

Salaries and employee benefits

 

5,310

 

 

5,038

 

 

 

20,960

 

 

 

19,294

 

Occupancy

 

546

 

 

471

 

 

 

2,136

 

 

 

1,964

 

Equipment

 

744

 

 

620

 

 

 

2,765

 

 

 

2,499

 

Supplies

 

168

 

 

145

 

 

 

631

 

 

 

542

 

Professional and other outside expense

 

773

 

 

1,226

 

 

 

3,967

 

 

 

3,351

 

Data processing

 

503

 

 

825

 

 

 

2,487

 

 

 

3,177

 

Marketing

 

183

 

 

287

 

 

 

867

 

 

 

768

 

Credit expense

 

239

 

 

204

 

 

 

904

 

 

 

816

 

FDIC insurance expense

 

124

 

 

112

 

 

 

518

 

 

 

441

 

Amortization of intangibles

 

140

 

 

140

 

 

 

560

 

 

 

560

 

Other

 

378

 

 

435

 

 

 

1,754

 

 

 

1,693

 

Total noninterest expenses

 

9,108

 

 

9,503

 

 

 

37,549

 

 

 

35,105

 

 

 

 

 

 

 

 

 

Income before income taxes

 

3,489

 

 

2,070

 

 

 

11,145

 

 

 

9,923

 

 

 

 

 

 

 

 

 

Income tax expense

 

766

 

 

452

 

 

 

2,123

 

 

 

1,979

 

 

 

 

 

 

 

 

 

Net Income

$

2,723

 

$

1,618

 

 

$

9,022

 

 

$

7,944

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - basic and diluted

 

4,543,338

 

 

4,543,338

 

 

 

4,543,338

 

 

 

4,543,338

 

 

 

 

 

 

 

 

 

Net income per common share - basic and diluted

$

0.60

 

$

0.36

 

 

$

1.99

 

 

$

1.75

 


Bank of the James Financial Group, Inc. and Subsidiaries

Dollar amounts in thousands, except per share data
Unaudited

Selected Data:

Three
months
ending
Dec 31,
2025

Three
months
ending
Dec 31,
2024

Change

Year
to
date
Dec 31,
2025

Year
to
date
Dec 31,
2024

Change

Interest income

$

12,012

$

11,636

 

 

3.23

%

$

46,655

 

$

44,643

 

 

4.51

%

Interest expense

 

3,474

 

3,950

 

 

-12.05

%

 

13,848

 

 

15,407

 

 

-10.12

%

Net interest income

 

8,538

 

7,686

 

 

11.09

%

 

32,807

 

 

29,236

 

 

12.21

%

Provision for (recovery of) credit losses

 

266

 

(71

)

 

-474.65

%

 

(35

)

 

(655

)

 

-94.66

%

Noninterest income

 

4,325

 

3,816

 

 

13.34

%

 

15,852

 

 

15,137

 

 

4.72

%

Noninterest expense

 

9,108

 

9,503

 

 

-4.16

%

 

37,549

 

 

35,105

 

 

6.96

%

Income taxes

 

766

 

452

 

 

69.47

%

 

2,123

 

 

1,979

 

 

7.28

%

Net income

$

2,723

$

1,618

 

 

68.29

%

$

9,022

 

$

7,944

 

 

13.58

%

Weighted average shares outstanding - basic and diluted

 

4,543,338

 

4,543,338

 

 

-

 

 

4,543,338

 

 

4,543,338

 

 

-

 

Net income per share – basic and diluted

$

0.60

$

0.36

 

$

0.24

 

$

1.99

 

$

1.75

 

$

0.24

 


Balance Sheet at
period end:

Dec 31,
2025

Dec 31,
2024

Change

Dec 31,
2024

Dec 31,
2023

Change

Loans, net

$

661,357

$

636,552

 

3.90

%

$

636,552

$

601,921

 

5.75

%

Loans held for sale

 

3,472

 

3,616

 

-3.98

%

 

3,616

 

1,258

 

187.44

%

Total debt securities

 

217,718

 

191,522

 

13.68

%

 

191,522

 

220,132

 

-13.00

%

Total deposits

 

937,129

 

882,404

 

6.20

%

 

882,404

 

878,459

 

0.45

%

Stockholders’ equity

 

80,048

 

64,865

 

23.41

%

 

64,865

 

60,039

 

8.04

%

Total assets

 

1,039,024

 

979,244

 

6.10

%

 

979,244

 

969,371

 

1.02

%

Shares outstanding

 

4,543,338

 

4,543,338

 

-

 

 

4,543,338

 

4,543,338

 

-

 

Book value per share

$

17.62

$

14.28

$

3.34

 

$

14.28

$

13.21

$

1.07

 


Daily averages:

Three
months
ending
Dec 31,
2025

Three
months
ending
Dec 31,
2024

Change

Year
to
date
Dec 31,
2025

Year
to
date
Dec 31,
2024

Change

Loans

$

661,581

$

642,197

3.02

%

$

654,835

$

623,769

4.98

%

Loans held for sale

 

4,011

 

3,612

11.05

%

 

3,271

 

3,494

-6.38

%

Total securities (book value)

 

230,940

 

218,680

5.61

%

 

225,002

 

232,992

-3.43

%

Total deposits

 

942,040

 

920,655

2.32

%

 

921,488

 

901,449

2.22

%

Stockholders’ equity

 

77,770

 

68,563

13.43

%

 

71,133

 

62,575

13.68

%

Interest earning assets

 

988,760

 

963,512

2.62

%

 

969,433

 

939,900

3.14

%

Interest bearing liabilities

 

815,834

 

801,812

1.75

%

 

801,692

 

783,003

2.39

%

Total assets

 

1,043,521

 

1,021,547

2.15

%

 

1,020,156

 

995,738

2.45

%


Financial Ratios:

Three
months
ending
Dec 31,
2025

Three
months
ending
Dec 31,
2024

Change

Year
to
date
Dec 31,
2025

Year
to
date
Dec 31,
2024

Change

Return on average assets

1.04

%

0.63

%

0.41

 

0.88

%

0.80

%

0.08

 

Return on average equity

13.89

%

9.39

%

4.50

 

12.68

%

12.70

%

(0.02

)

Net interest margin

3.44

%

3.18

%

0.26

 

3.39

%

3.11

%

0.26

 

Efficiency ratio

70.81

%

82.62

%

(11.81

)

77.17

%

79.11

%

(1.94

)

Average equity to average assets

7.45

%

6.71

%

0.74

 

6.97

%

6.28

%

0.69

 


Allowance for credit losses:

Three
months
ending
Dec 31,
2025

Three
months
ending
Dec 31,
2024

Change

Year
to
date
Dec 31,
2025

Year
to
date
Dec 31,
2024

Change

Beginning balance

$

6,298

 

$

7,078

 

-11.02

%

$

7,044

 

$

7,412

 

-4.96

%

Provision for (recovery of) credit losses*

 

352

 

 

(39

)

-1002.56

%

 

(166

)

 

(533

)

-68.86

%

Charge-offs

 

(203

)

 

-

 

N/A

 

(447

)

 

(84

)

432.14

%

Recoveries

 

3

 

 

5

 

-40.00

%

 

19

 

 

249

 

-92.37

%

Ending balance

 

6,450

 

 

7,044

 

-8.43

%

 

6,450

 

 

7,044

 

-8.43

%

* does not include provision for or recovery of unfunded loan commitment liability

 

 

 

 


Nonperforming assets:

Dec 31,
2025

Dec 31,
2024

Change

Dec 31,
2024

Dec 31,
2023

Change

Total nonperforming loans

$

1,704

$

1,640

3.90

%

$

1,640

$

391

319.44

%

Other real estate owned

 

-

 

-

N/A

 

-

 

-

N/A

Total nonperforming assets

 

1,704

 

1,640

3.90

%

 

1,640

 

391

319.44

%


Asset quality ratios:

Dec 31,
2025

Dec 31,
2024

Change

Dec 31,
2024

Dec 31,
2023

Change

Nonperforming loans to total loans

0.26

%

0.25

%

0.01

 

0.25

%

0.06

%

0.19

 

Allowance for credit losses for loans to total loans

0.97

%

1.09

%

(0.12

)

1.09

%

1.22

%

(0.13

)

Allowance for credit losses for loans to nonperforming loans

378.52

%

429.51

%

(50.99

)

429.51

%

1895.65

%

(1,466.14

)