Lumbee Guaranty Bank (Lumbee Guaranty Bank) Credit Losses Provision : $0.00 Mil (As of Mar. 2024)

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What is Lumbee Guaranty Bank Credit Losses Provision?

Lumbee Guaranty Bank's credit losses provision for the three months ended in Mar. 2024 was $-0.01 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Mar. 2024 was $0.00 Mil.

Lumbee Guaranty Bank's quarterly credit losses provision increased from Sep. 2023 ($-0.05 Mil) to Dec. 2023 ($0.04 Mil) but then declined from Dec. 2023 ($0.04 Mil) to Mar. 2024 ($-0.01 Mil).

Lumbee Guaranty Bank's annual credit losses provision increased from Dec. 2021 ($-0.33 Mil) to Dec. 2022 ($-0.09 Mil) and increased from Dec. 2022 ($-0.09 Mil) to Dec. 2023 ($0.03 Mil).

Lumbee Guaranty Bank Credit Losses Provision Historical Data

The historical data trend for Lumbee Guaranty Bank's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Lumbee Guaranty Bank Credit Losses Provision Chart

Lumbee Guaranty Bank Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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-0.10

0.30

-0.33

-0.09

0.03

Lumbee Guaranty Bank Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															0.02	0.02	-0.05	0.04	-0.01

Lumbee Guaranty Bank Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.00 Mil.

Lumbee Guaranty Bank (Lumbee Guaranty Bank) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Lumbee Guaranty Bank (OTCPK:LUMB) » Definitions » Credit Losses Provision

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Traded in Other Exchanges

N/A

Address

403 East Third Street, PO Box 908, Pembroke, NC, USA, 28372

Website

https://www.lumbeeguarantybank.com

Lumbee Guaranty Bank is a state-chartered bank. The bank extends both commercial and consumer loans throughout its market area and offers a wide range of saving, spending, and borrowing products and services. The bank operates through approximately fourteen full-service offices in Robeson, Cumberland, and Hoke Counties.

Lumbee Guaranty Bank (Lumbee Guaranty Bank) Headlines

From GuruFocus

OTC Markets Group Welcomes Lumbee Guaranty Bank to OTCQX

By PRNewswire PRNewswire • 12-04-2019