While ASBC definitely came in with a surprise today I am concerned with a few things after looking over the report.

NPA 4.13% v 3.27% q/q ( 1.56% yoy)
(NPA = Non-performing Assets)


"""Nonperforming loans were $885.8 million at September 30, 2009 compared to $733.4 million at June 30, 2009 and $452.2 million at March 31, 2009. Credit quality deterioration slowed during the third quarter as evidenced by the slower pace of growth in both potential problem loans and nonperforming loans."""


"""Loans were $14.8 billion at September 30, 2009, down 3.6% from $15.3 billion at June 30, 2009"""

So while loans where down this quarter NPA was up from last quarter.

I notice in the release CEO Paul S. Beideman mentioned that "Credit quality deterioration slowed"

This means it is still deteriorating but just at a slower pace which can be interpreted by the individual. But NPA of 4.13% v 3.27% last quarter is still pretty bad deterioration.

While ASBC beat estimates, I will wait and see how this plays out. Any thoughts on these earnings?

Currently I have no position.