Magazine article American Banker

United Oklahoma Bancshares Reports $17.6 Million Loss in Second Quarter

Magazine article American Banker

United Oklahoma Bancshares Reports $17.6 Million Loss in Second Quarter

Article excerpt

United Oklahoma Bancshares Reports $17.6 Million Loss in Second Quarter

A sizable increase in provision for possible future loan losses resulted in a $17.6 million second-quarter loss for United Oklahoma Bancshares Inc., the Oklahoma City banking company reported.

As they did with other Oklahoma and Southwest banking companies, energy loan problems and declining real estate values negatively impacted United Oklahoma's second-quarter results.

The second-quarter loss, which amounted to $6.69 per share, compared to net income of $524,000, or $0.16 per share, during the the second quarter of 1985. For the first six months of this year, United Oklahoma lost $17.4 million, or $6.63, compared to a profit of $1.4 million, or $0.45 per share, in the comparable period in 1985.

The second-quarter loss reduced United Oklahoma's primary capital to $12.1 million, or 3.18% of assets of $380 million. The capital level is below acceptable levels set forth by bank regulators. …

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