Question-and-Answer Session
Operator
Okay. (Operator Instructions) Your first question comes from the line of Jim Bradshaw from D. A. Davidson. Please go ahead.
Jim Bradshaw - D. A. Davidson & Co.
Good morning.
Brian L. Vance - CEO, President
Hi, Jim. How are you?
Jim Bradshaw - D. A. Davidson & Co.
I'm well, Brian. Thanks for asking.
A couple questions. It sounds like something in the delinquency or classified buckets leads you to think you're going to have a little bit higher NPA number going forward.
Can you talk about how delinquencies or classifieds have changed from Q3 to Q4?
Brian L. Vance - CEO, President
Jim, I guess I was a bit tongue in cheek with the remark that it's hard for us to go down from our current level because it's just essentially zero, so if they increase at all, it will be going up.
But I like the position we have in terms of our - just our overall non-performing assets.
Our delinquencies have not gone up. Our delinquencies for the entire year average less than 0.5% of total portfolio. December was less than 0.5% for the month. So we're not seeing any delinquency issues in the portfolio as of this point in time.
But I think as we look at economic cycles, and I think, if for any reason, just the fact that the housing industry is typically slow during these months - December, January, February - I think we're going to continue to see some increasing weaknesses there, and perhaps the past-due percentages may climb a bit.
On the non-performing asset side - excuse me, on the criticized asset side, we have seen a little bit of increase in the non-performing assets on the construction loan side. Again, these loans are performing. I think we probably are a bit more aggressive than some others in recognizing weaknesses to credits and moving those to watch lists and criticized status, et cetera.
So while we've seen a modest increase to that, my comments really, Jim, just get to what I just have to believe is going to be some continued weakening to the housing industry.
Jim Bradshaw - D. A. Davidson & Co.
Brian, is there much of a variance in sort of economic conditions or credit quality trends from the sort of north to the south of your franchise? Is Pierce worse than Olympia, for example?
Brian L. Vance - CEO, President
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