in spite of this $0.6 million award. 30-89d past due was $11.64 million at end of 2Q. On top of that there were $4.49 million in OREO and $29.73 million in non-accrual. The total of the above was $45.83 million, greater than the bank's equity of $43.05 million. More losses are certainly to come. If T-1 were to dip below 8%, watch out.
If pre-provision operating earning plus equity can withstand the losses, then the shares are attractively priced. We just can't tell with the reports to date. Maybe 3Q reports would give us a peek into the future.