What is the bank allowance for loan losses

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You know the following information about the Webb State Bank (in $ mln): Accumulated depreciation $30, Net loans $639.622, Fed funds purchased and repurchase agreements $209.297, Cash and due from banks $48.053, Trading account securities $30, Miscellaneous assets $96.691, Deposits $506.697, Undivided profits $134.321, Gross premises $80, Surplus $30.302, Subordinated debt $90.504, Investment securities $155.669, Common stock par $19.549, Gross loans $654.157. Given this information, what is the bank's allowance for loan losses, to the nearest $0.001 million? E.g. if your answer is $24.6755 million, record it as 24.676.

Reference no: EM131964523

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