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T Bancshares, Inc.
|
10-K
Mar 29, 3:52 PM ET
T Bancshares, Inc. 10-K
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Contents
6
NOTE 5. OTHER REAL ESTATE AND OTHER ASSETS
Other assets as of December 31, 2016 and 2015 were as follows:
The Company had no Other Real Estate Owned (“OREO”) as of December 31, 2016 and 2015.
SBA and USDA loans sold which the Company retains the servicing for others are not included in the accompanying consolidated balance sheets. The risks inherent in loan servicing assets relate primarily to changes in prepayments that result from shifts in loan interest rates. The unpaid principal balances of SBA and USDA loans serviced for others were $98.8 million and $75.8 million at December 31, 2016 and 2015, respectively.
During the year ended December 31, 2016, loan servicing assets of $833,000 were added and $422,000 was amortized to non-interest income. During the year ended December 31, 2015, loan servicing assets of $493,000 were added and $125,000 was amortized to non-interest income.
There was no valuation allowance necessary to adjust the aggregate cost basis of the loan servicing asset to fair market value as of December 31, 2016 and 2015.