Downey Financial 8-K Earnings Release and Table Listing

EXHIBIT 99.1

Table of Contents

Earnings Release and Table Listing

• Earnings Release Narrative
• Consolidated Balance Sheets
• Consolidated Statements of Income
• Selected Financial Data
  • Net income by business segment
  • Selected financial ratios
  • Asset and liability activity
  • Capital ratios (Bank only)
  • Book value per share
  • Number of branches including in-store locations
  • Average balance sheet data
  • Loan and deposit related fees
  • Loan servicing income, net
  • Net gains on sales of loans and mortgage-backed securities
  • Mortgage servicing rights activity
  • Mortgage loans serviced for others
  • Loans held for investment
  • Loans held for sale
  • Residential one-to-four unit loans subject to negative amortization
  • Non-performing assets
  • Delinquent loans

DOWNEY FINANCIAL CORP.
N E W S   R E L E A S E	For further information contact: Thomas E. Prince Chief Operating Officer (949) 509-4440

          Newport Beach, California - April 18, 2006 - Downey Financial Corp. (NYSE: DSL) reported that net income for the first quarter of 2006 totaled $44.8 million or $1.61 per share on a diluted basis, down 13.5% from the $51.7 million or $1.86 per share in the year-ago first quarter.

          The decline in net income between first quarters primarily reflected:

• A $19.0 million decline in net gains on sales of loans and mortgage-backed securities due to a lower volume of loans sold and gain per dollar of loan sold;
• A $8.0 million increase in provision for credit losses;
• A $3.4 million or 5.8% increase in general and administrative expense;
• A $1.3 million decline in income from loan servicing activities; and
• A $1.0 million decline in gains from sales of loan servicing.

Those unfavorable items were partially offset by:

• A $11.4 million increase in loan and deposit related fees primarily reflecting higher loan prepayment fees; and
• A $9.5 million or 10.1% increase in net interest income reflecting both a higher level of average interest-earning assets and effective interest rate spread.

          Daniel D. Rosenthal, President and Chief Executive Officer, commented, "We have been originating option ARMs since the 1980s. Our credit experience with these loans has been good and borrowers have appreciated the payment flexibility the product offers. Our portfolio of option ARMs, which represents 92% of our single family portfolio, had a weighted average loan-to-value ratio of only 72% at the time they were originated and borrowers were qualified based on fully-indexed interest rates. While our historic credit experience has been good, these loans do present greater credit risk in sustained periods of rising interest rates, as borrowers may see their loan payments increase significantly when their payments recast to fully-amortizing payments. In addition, credit risk increases if home values decline. In light of continued increases in market interest rates and changes we are beginning to see in the residential market, such as an increased level of unsold homes and relatively flat home prices on a sequential month basis, we recently instituted pricing changes for the option ARMs we originate for portfolio by increasing the initial start rate and thereby lowering their potential for negative amortization. Since our new start rate is now higher than those of many of our competitors, our production of option ARMs for portfolio may not offset loan payoffs. We are offering other types of adjustable rate product for portfolio that do not permit negative amortization, but those products are currently not as popular with borrowers. We will continue to closely monitor the trends in the residential housing and lending markets, especially the pricing of our competitors, and make pricing adjustments, as deemed necessary."

Page 1

Net Interest Income

          Net interest income totaled $103.6 million in the first quarter of 2006, up $9.5 million or 10.1% from a year ago. The increase reflected both a higher level of average interest-earning assets and effective interest rate spread. Interest-earning assets averaged $16.986 billion in the current quarter, up 7.4% from the same period a year ago. The effective interest rate spread averaged 2.44% in the current quarter, up from 2.38% a year ago and 2.13% in the fourth quarter of 2005. The increase in the effective interest rate spread from the fourth quarter of 2005 was due to several factors including a lower level of deferred loan origination costs being written-off related to a slowdown in the pace at which loans are being prepaid, the receipt in the current quarter of a dividend from the Federal Home Loan Bank of San Francisco, as none was recorded in the prior quarter, and a lower proportion of loans at the initial incentive interest rate.

Provision for Credit Losses

          Provision for credit losses totaled $10.1 million in the first quarter of 2006, up $8.0 million from a year ago. During the current quarter, certain segments of the California residential real estate market began to show signs of slower sales and flattening home values on a sequential month basis. In addition, increased usage of negative amortization associated with option ARM loans may result in certain borrowers reaching their limit of negative amortization permitted under the terms of their loan, thereby resulting in an increase in their minimum monthly loan payments and the potential for higher delinquencies. Therefore, even though net charge-offs were virtually unchanged at $0.1 million in the current quarter, an increase in the allowance for credit losses associated with residential loans was deemed appropriate. The allowance for credit losses was $46 million at March 31, 2006, comprised of $45 million for loan losses and $1 million for unfunded loan commitments which is reported in the category accounts payable and accrued liabilities. That compares to an allowance for credit losses of $36 million at year-end 2005.

Other Income

          Other income totaled $45.5 million in the current quarter, down $10.2 million from a year ago. Contributing to the decline between first quarters was:

• A $19.0 million decline in net gains from sales of loans and mortgage-backed securities due to a lower volume of loans sold and a lower gain per dollar of loan sold. The current quarter included a $0.2 million gain due to the SFAS 133 impact of valuing derivatives associated with the sale of loans, compared to a SFAS 133 gain of $2.9 million in the year-ago quarter. Excluding the impact of SFAS 133, a gain equal to 1.30% on secondary market sales of $876 million was realized, compared to the year-ago gain of 1.36% on secondary market sales of $2.030 billion.
• A $1.3 million decline in income from loan servicing activities. The primary reason for the unfavorable change was that the current quarter included a less than $0.1 million recapture of the valuation allowance for mortgage servicing rights, compared to a $1.2 million recapture in the year-ago quarter. At March 31, 2006, mortgage servicing rights, net of a $0.3 million valuation allowance, totaled $20.2 million or 0.85% of the $2.373 billion of associated loans serviced for others. That amount excludes $3.422 billion of loans primarily sub-serviced for others for a fixed fee per loan.
• A $1.0 million decline on gains on sales of mortgage servicing rights, as there were no sales in the current quarter.

Page 2

• A $0.3 million decline in income from real estate held for investment due primarily to lower gains from sales. The current quarter included gains of $1.0 million, compared to gains of $1.5 million a year ago.

Partially offsetting those unfavorable items was an increase of $11.4 million in loan and deposit related fees, due primarily to an increase of $11.2 million in loan prepayment fees from a year ago.

Operating Expense

          Operating expense totaled $61.5 million in the current quarter, up $3.3 million from a year ago due to a 5.8% increase in general and administrative expense. Except for a modest decline in advertising expense, all major categories of general and administrative expense were higher.

Assets, Loan Originations and Deposits

          At March 31, 2006, assets totaled $17.803 billion, up 5.4% from a year ago and up 4.1% from year-end 2005. During the current quarter, assets increased $707 million due primarily to increases of $511 million in loans held for investment, $104 million in securities available for sale and $97 million in loans held for sale. Included within loans held for investment at quarter end were $13.866 billion of one-to-four unit adjustable rate mortgages subject to negative amortization. The amount of negative amortization included in loan balances increased $48 million during the quarter to $182 million or 1.31% of loans subject to negative amortization. During the current quarter, approximately 28% of loan interest income represented negative amortization, up from 24% in the fourth quarter of 2005 and 11% in the year-ago first quarter. At origination, these loans had a weighted average loan-to-value ratio of 72%.

          Loan originations (including purchases) totaled $2.813 billion in the current quarter, down 33.8% from $4.250 billion a year ago. Loans originated for sale declined $1.201 billion to $980 million, while single family loans originated for portfolio declined $197 million to $1.719 billion. Of the current quarter total originated for portfolio, $55 million represented subprime credits. At quarter end, the subprime portfolio totaled $963 million, with an average loan-to-value ratio at origination of 70% and, of the total, 97% represented "Alt. A and A-" credits. In addition to single family loans, $114 million of other loans were originated in the current quarter.

          Deposits totaled $12.199 billion at quarter end, up 18.3% from a year ago and up $322 million or 2.7% from year-end 2005. At quarter end, the number of branches totaled 173 (169 in California and four in Arizona), unchanged from year-end 2005. At quarter end, the average deposit size of our 80 traditional branches was $120 million, while the average deposit size of our 93 in-store branches was $28 million. Since the end of 2005, borrowings increased $268 million, as deposit growth was less than the growth in assets.

Non-Performing Assets

          Non-performing assets increased $4 million during the quarter to $39 million or 0.22% of total assets, compared to 0.21% at year-end 2005.

Regulatory Capital Ratios

          At March 31, 2006, Downey Financial Corp.’s primary subsidiary, Downey Savings and Loan Association, F.A., had core and tangible capital ratios of 7.56% and a risk-based capital ratio of 14.89%. These capital levels were well above the "well capitalized" standards of 5% and 10%, respectively, as defined by regulation.

Page 3

          Certain statements in this release may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements do not relate strictly to historical information or current facts. Some forward-looking statements may be identified by use of terms such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may." Downey’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, economic conditions, competition in the geographic and business areas in which Downey conducts its operations, fluctuations in interest rates, credit quality and government regulation. Downey does not update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

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DOWNEY FINANCIAL CORP. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

			March 31,			December 31,			March 31,
(Dollars in Thousands, Except Per Share Data)			2006			2005			2005
Assets
Cash			$	168,822		$	190,396		$	133,621
Federal funds				-			-			10,003
	Cash and cash equivalents			168,822			190,396			143,624
U.S. Treasury, government sponsored entities and other investment securities
	available for sale, at fair value			730,402			626,313			511,703
Loans held for sale, at lower of cost or fair value				561,511			464,488			1,279,734
Mortgage-backed securities available for sale, at fair value				271			277			296
Loans held for investment				15,912,318			15,391,759			14,485,191
Allowance for loan losses				(44,504	)		(34,601	)		(35,072	)
		Loans held for investment, net		15,867,814			15,357,158			14,450,119
Investments in real estate and joint ventures				49,182			49,344			56,964
Real estate acquired in settlement of loans				385			908			2,783
Premises and equipment				110,595			109,574			105,596
Federal Home Loan Bank stock, at cost				182,557			179,844			243,613
Mortgage servicing rights, net				20,165			20,302			19,610
Other assets				111,055			97,059			80,936
			$	17,802,759		$	17,095,663		$	16,894,978
Liabilities and Stockholders’ Equity
Deposits			$	12,198,903		$	11,876,848		$	10,309,077
Federal Home Loan Bank advances				3,825,811			3,557,515			5,093,874
Senior notes				198,129			198,087			197,964
Accounts payable and accrued liabilities				189,552			114,527			118,649
Deferred income taxes				140,961			140,467			121,078
	Total liabilities			16,553,356			15,887,444			15,840,642
Stockholders’ equity
Preferred stock, par value of $0.01 per share; authorized 5,000,000 shares;
	outstanding none			-			-			-
Common stock, par value of $0.01 per share; authorized 50,000,000 shares;
	issued 28,235,022 shares at March 31, 2006, December 31, 2005 and
	March 31, 2005; outstanding 27,853,783 shares at March 31, 2006,
	December 31, 2005 and March 31, 2005			282			282			282
Additional paid-in capital				93,792			93,792			93,792
Accumulated other comprehensive loss				(6,196	)		(5,408	)		(1,951	)
Retained earnings				1,178,317			1,136,345			979,005
Treasury stock, at cost, 381,239 shares at March 31, 2006,
	December 31, 2005 and March 31, 2005			(16,792	)		(16,792	)		(16,792	)
	Total stockholders’ equity			1,249,403			1,208,219			1,054,336
			$	17,802,759		$	17,095,663		$	16,894,978

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DOWNEY FINANCIAL CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

		Three Months Ended
		March 31,
(Dollars in Thousands, Except Per Share Data)		2006			2005
Interest income
Loans		$	233,024		$	173,007
U.S. Treasury and government sponsored entities securities			7,336			4,838
Mortgage-backed securities			3			3
Other investment securities			2,279			2,538
	Total interest income		242,642			180,386
Interest expense
Deposits			91,835			49,023
Federal Home Loan Bank advances			43,914			33,980
Senior notes			3,298			3,295
	Total interest expense		139,047			86,298
Net interest income			103,595			94,088
Provision for credit losses			10,057			2,038
	Net interest income after provision for credit losses		93,538			92,050
Other income, net
Loan and deposit related fees			30,879			19,507
Real estate and joint ventures held for investment, net			2,289			2,580
Secondary marketing activities:
	Loan servicing income, net		189			1,484
	Net gains on sales of loans and mortgage-backed securities		11,654			30,615
	Net gains on sales of mortgage servicing rights		-			981
Net gains on sales of investment securities			-			27
Other			520			520
	Total other income, net		45,531			55,714
Operating expense
Salaries and related costs			40,780			39,155
Premises and equipment costs			8,538			8,000
Advertising expense			1,242			1,350
SAIF insurance premiums and regulatory assessments			1,014			927
Professional fees			792			336
Other general and administrative expense			9,175			8,392
	Total general and administrative expense		61,541			58,160
Net operation of real estate acquired in settlement of loans			(9	)		64
	Total operating expense		61,532			58,224
Income before income taxes			77,537			89,540
Income taxes			32,780			37,801
	Net income	$	44,757		$	51,739
Per share information
Basic		$	1.61		$	1.86
Diluted		$	1.61		$	1.86
Cash dividends declared and paid		$	0.10		$	0.10
Weighted average shares outstanding
Basic		27,853,783			27,853,783
Diluted		27,883,221			27,881,839

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DOWNEY FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL DATA

			Three Months Ended
			March 31,
(Dollars in Thousands)			2006			2005
Net income by business segment
Banking			$	43,576		$	50,210
Real estate investment				1,181			1,529
	Total net income		$	44,757		$	51,739
Selected financial ratios
Effective interest rate spread				2.44	%		2.38	%
Efficiency ratio(a)				41.91			39.50
Return on average assets				1.03			1.28
Return on average equity				14.58			20.09
Asset and liability activity
Loans for investment portfolio:
	Originations: (b)
		Residential one-to-four units	$	1,664,033		$	1,743,007
		Residential one-to-four units – subprime		55,335			173,324
		All other		113,670			152,084
	Repayments			(1,393,957	)		(1,043,649	)
Loans originated for sale portfolio(b)				980,164			2,181,392
Loans and mortgage-backed securities sold				(876,286	)		(2,029,787	)
Increase in loans (including mortgage-backed securities)				607,673			1,186,000
Increase in assets				707,096			1,244,799
Increase in deposits				322,055			651,099
Increase in borrowings				268,338			534,292

	March 31,			December 31,			March 31,
	2006			2005			2005
Capital ratios (Bank only)
Tangible and core		7.56	%		7.64	%		6.84	%
Risk-based		14.89			14.93			13.22
Book value per share	$	44.86		$	43.38		$	37.85
Number of branches including in-store locations		173			173			169

^(a) The amount of general and administrative expense expressed as a percentage of net interest income plus other income, excluding income associated with real estate held for investment.
^(b) Includes loans purchased.

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DOWNEY FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL DATA – (Continued)

			Three Months Ended
			March 31, 2006							December 31, 2005						March 31, 2005
							Average						Average						Average
			Average				Yield/			Average			Yield/			Average			Yield/
(Dollars in Thousands)			Balance			Interest	Rate			Balance		Interest	Rate			Balance		Interest	Rate
Average balance sheet data
Interest-earning assets:
	Loans		$	16,137,510	$	233,024	5.78	%	$	15,633,782	$	205,872	5.27	%	$	15,081,234	$	173,007	4.59	%
	Mortgage-backed securities			276		3	4.35			281		3	4.27			301		3	3.99
	Investment securities(a)			848,460		9,615	4.60			766,808		6,067	3.14			740,503		7,376	4.04
		Total interest-earning assets		16,986,246		242,642	5.71			16,400,871		211,942	5.17			15,822,038		180,386	4.56
Non-interest-earning assets				419,058						435,809						384,519
	Total assets		$	17,405,304					$	16,836,680					$	16,206,557
Transaction accounts:
	Non-interest-bearing checking		$	699,971	$	-	-	%	$	845,532	$	-	-	%	$	613,945	$	-	-	%
	Interest-bearing checking(b)			515,516		435	0.34			523,134		456	0.35			532,416		476	0.36
	Money market			164,212		423	1.04			164,673		433	1.04			158,491		410	1.05
	Regular passbook			1,727,033		4,384	1.03			1,899,085		4,973	1.04			2,635,858		7,166	1.10
		Total transaction accounts		3,106,732		5,242	0.68			3,432,424		5,862	0.68			3,940,710		8,052	0.83
Certificates of deposit				8,904,238		86,593	3.94			8,488,817		79,315	3.71			6,016,710		40,971	2.76
	Total deposits			12,010,970		91,835	3.10			11,921,241		85,177	2.83			9,957,420		49,023	2.00
FHLB advances(c)				3,689,386		43,914	4.83			3,244,012		36,124	4.42			4,791,811		33,980	2.88
Senior notes				198,112		3,298	6.66			198,069		3,297	6.66			197,949		3,295	6.66
	Total deposits and borrowings			15,898,468		139,047	3.55			15,363,322		124,598	3.22			14,947,180		86,298	2.34
Other liabilities				278,843						283,847						229,195
Stockholders’ equity				1,227,993						1,189,511						1,030,182
	Total liabilities and stockholders’ equity		$	17,405,304					$	16,836,680					$	16,206,557
Net interest income/interest rate spread					$	103,595	2.16	%			$	87,344	1.95	%			$	94,088	2.22	%
Excess of interest-earning assets over
	deposits and borrowings		$	1,087,778					$	1,037,549					$	874,858
Effective interest rate spread							2.44						2.13						2.38

^(a) Yields for securities available for sale are calculated using historical cost balances and do not give effect to changes in fair value that are reflected as a component of stockholders’ equity.
^(b) Included amounts swept into money market deposit accounts.
^(c) The impact of swap contracts was included, with notional amounts totaling $430 million of receive-fixed, pay-3-month LIBOR variable interest, which contracts serve as a permitted hedge against a portion of our FHLB advances.

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DOWNEY FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL DATA – (Continued)

			Three Months Ended
			March 31,			December 31,			March 31,
(Dollars in Thousands)			2006			2005			2005
Loan and deposit related fees
Loan related fees:
	Prepayment fees		$	21,471		$	22,904		$	10,255
	Other fees			1,916			2,088			1,888
Deposit related fees:
	Automated teller machine fees			2,149			2,453			2,581
	Other fees			5,343			5,278			4,783
		Total loan and deposit related fees	$	30,879		$	32,723		$	19,507
Loan servicing income, net
Net cash servicing fees			$	1,566		$	1,743		$	1,627
Payoff and curtailment interest cost(a)				(218	)		(250	)		(194	)
Amortization of mortgage servicing rights				(1,198	)		(1,252	)		(1,160	)
Reduction of impairment of mortgage servicing rights				39			697			1,211
	Total loan servicing income, net		$	189		$	938		$	1,484
Net gains on sales of loans and mortgage-backed securities
Mortgage servicing rights			$	1,022		$	1,740		$	1,609
All other components excluding SFAS 133				10,394			8,418			26,093
SFAS 133				238			841			2,913
	Total net gains on sales of loans and mortgage-backed securities		$	11,654		$	10,999		$	30,615
Secondary marketing gain excluding SFAS 133 as a
	percentage of associated sales			1.30	%		0.93	%		1.36	%
Mortgage servicing rights activity
Gross balance at beginning of period			$	21,157		$	20,917		$	20,502
Additions				1,022			1,740			1,609
Amortization				(1,198	)		(1,252	)		(1,160	)
Sales				-			-			(14	)
Impairment write-down				(561	)		(248	)		(103	)
	Gross balance at end of period			20,420			21,157			20,834
Allowance balance at beginning of period				855			1,800			2,538
Provision for (reduction of) impairment				(39	)		(697	)		(1,211	)
Impairment write-down				(561	)		(248	)		(103	)
	Allowance balance at end of period			255			855			1,224
		Total mortgage servicing rights, net	$	20,165		$	20,302		$	19,610
As a percentage of associated mortgage loans				0.85	%		0.86	%		0.89	%
Estimated fair value(b)			$	21,894		$	20,351		$	19,665
Weighted average expected life (in months)				51			47			54
Custodial account earnings rate				4.90	%		4.46	%		3.21	%
Weighted average discount rate				9.45			9.32			9.13

		March 31,			December 31,			March 31,
(Dollars in Thousands)		2006			2005			2005
Mortgage loans serviced for others
Total		$	5,794,067		$	5,292,253		$	8,043,655
With capitalized mortgage servicing rights: (b)
	Amount		2,372,534			2,362,539			2,207,403
	Weighted average interest rate		5.63	%		5.60	%		5.57	%
Total loans sub-serviced without mortgage servicing rights: (c)
	Term – less than six months	$	153,655		$	123,552		$	475,327
	Term – indefinite		3,248,012			2,785,090			5,332,613
Custodial account balances		$	124,324		$	117,451		$	157,624

^(a) Represents the difference between the contractual obligation to pay interest to the investor for an entire month and the actual interest received when a loan prepays prior to the end of the month. This does not include the benefit of the use of repaid loan funds to increase net interest income.
^(b) The estimated fair value may exceed book value for certain asset strata and excluded loans sold or securitized prior to 1996 and loans sub-serviced without capitalized mortgage servicing rights.
^(c) Servicing is performed for a fixed fee per loan each month.

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DOWNEY FINANCIAL CORP. AND SUBSIDIARIES

SELECTED FINANCIAL DATA – (Continued)

				March 31,			December 31,			March 31,
(Dollars in Thousands)				2006			2005			2005
Loans held for investment
Loans secured by real estate:
	Residential one-to-four units			$	14,187,846		$	13,615,779		$	12,443,601
	Residential one-to-four units – subprime				962,883			1,058,911			1,289,204
			Total residential one-to-four units		15,150,729			14,674,690			13,732,805
	Home equity loans and lines of credit				250,804			274,014			306,831
	Residential five or more units				135,432			69,531			93,925
	Commercial real estate				28,846			28,791			29,664
	Construction				78,095			82,379			77,428
	Land				27,379			23,630			59,470
Non-mortgage:
	Commercial				3,481			3,981			4,766
	Automobile				67			116			542
	Other consumer				6,591			6,577			6,346
			Total loans held for investment		15,681,424			15,163,709			14,311,777
Increase (decrease) for:
	Undisbursed loan funds and net deferred costs and premiums				230,894			228,050			173,414
	Allowance for losses				(44,504	)		(34,601	)		(35,072	)
			Total loans held for investment, net	$	15,867,814		$	15,357,158		$	14,450,119
Loans held for sale
Residential one-to-four units				$	556,365		$	459,081		$	1,256,507
Net deferred costs and premiums					6,646			5,841			24,630
Capitalized basis adjustment(a)					(1,500	)		(434	)		(1,403	)
	Total loans held for sale, net			$	561,511		$	464,488		$	1,279,734
Residential one-to-four unit loans subject to negative amortization
Held for investment:
		Amount		$	13,865,945		$	13,419,322		$	11,673,701
		Negative amortization included in the loan balance			181,559			133,066			50,548
		Negative amortization as a percentage of the associated loan balance			1.31	%		0.99	%		0.43	%
Held for sale:
		Amount		$	200,168		$	248,260		$	1,060,061
		Negative amortization included in the loan balance			19			13			15
Non-performing assets
Non-accrual loans:
	Residential one-to-four units			$	26,102		$	23,497		$	16,835
	Residential one-to-four units – subprime				12,401			10,774			8,798
	Other				1			42			466
			Total non-accrual loans		38,504			34,313			26,099
Real estate acquired in settlement of loans					385			908			2,783
	Total non-performing assets			$	38,889		$	35,221		$	28,882
Non-performing assets as a percentage of total assets					0.22	%		0.21	%		0.17	%
Delinquent loans
30-59 days				$	26,791		$	25,122		$	16,995
60-89 days					10,497			7,272			6,809
90+ days(b)					22,111			23,850			18,515
	Total delinquent loans			$	59,399		$	56,244		$	42,319
Delinquencies as a percentage of total loans					0.37	%		0.36	%		0.27	%

^(a) Reflected the change in fair value of the interest rate lock derivative from the date of commitment to the date of funding.
^(b) All 90 day or greater delinquencies are on non-accrual status and reported as part of non-performing assets.
Note: Certain prior period amounts have been reclassified to conform to the current presentation.

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