trending Market Intelligence /marketintelligence/en/news-insights/trending/yCgz9rYgWrwndv2KUisoKg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Level One Bancorp receives $6.9M payment related to nonaccrual loan

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Level One Bancorp receives $6.9M payment related to nonaccrual loan

Farmington Hills, Mich.-based Level One Bancorp Inc. announced it received a $6.9 million payment on Aug. 1 related to one of its large, nonaccrual loans.

The company said the payment impacted its income statement by $771,000, which consists of $408,000 in loan interest and fee income and $363,000 of provision benefit. It also said the payment resulted in a $6.5 million decrease in its nonaccrual loans.

Level One Bancorp reported second-quarter net income of $3.6 million, or 45 cents per share, a decrease from $4.0 million, or 53 cents per share, in the year-ago period. Total nonaccrual loans for the quarter were $14.5 million, an increase from the year-ago figure of $11.3 million. Second-quarter provision for loan losses stood at $429,000, compared with a provision benefit of $710,000 in the second quarter of 2018.