Comments on: Capital G 2011 Earnings: $3.2 Million https://bernews.com/2012/03/capital-g-2011-earnings-3-2-million/ Bermuda's #1 source for 24/7 breaking news, photos & videos Wed, 08 Apr 2026 17:45:30 +0000 hourly 1 http://wordpress.org/?v=3.7.5 By: Mad Dawg https://bernews.com/2012/03/capital-g-2011-earnings-3-2-million/#comment-187507 Mon, 19 Mar 2012 09:24:35 +0000 http://bernews.com/?p=115431#comment-187507 The amount represents the amount of outstanding loans, not the full value of the house. Therefore this could easily represent 50 impaired mortgages.

I am not sure the word “impaired” necessarily means foreclosure has happened. It means the scheduled repayments are seriously delinquent.

]]> By: LLB https://bernews.com/2012/03/capital-g-2011-earnings-3-2-million/#comment-185033 Fri, 16 Mar 2012 05:18:59 +0000 http://bernews.com/?p=115431#comment-185033 You are accurate. That is quite concerning; I picked out the delinquency figure, as well. If the averages have come down, as reported in the media, the number of families is even higher.

LLB

]]> By: so-n-so https://bernews.com/2012/03/capital-g-2011-earnings-3-2-million/#comment-184948 Fri, 16 Mar 2012 01:40:55 +0000 http://bernews.com/?p=115431#comment-184948 correct. plus it increased it loan loss provisions to $6.7 million. this is setting aside money for loans that you think you might not recover. so that is a total of about $26 million BMD worth of real estate mortgages that have gone bad.

]]> By: Truth is killing' me... https://bernews.com/2012/03/capital-g-2011-earnings-3-2-million/#comment-184894 Fri, 16 Mar 2012 00:09:07 +0000 http://bernews.com/?p=115431#comment-184894 These figures make Butterfield Bank look pretty good right now considering they posted a better profit. What I don’t like about these numbers is the “Total impaired loans are $21 million at the end of 2011.” This means that if an average price of a house in Bermuda is 1 million then there are 21 families on this island that went delinquent on their house payments and lost their houses. Correct me if I’m wrong.

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