CoBiz Financial in Denver postponed a conference call to discuss its fourth-quarter earnings, after an $11.2 million loan was downgraded and placed into nonaccrual status.
The $3.4 billion-asset company also delayed the release of its complete financial performance from the fourth quarter, including net income, as it completes an impairment analysis of the loan, it said Friday. The conference call had been scheduled for Friday.
The credit is a commercial and industrial loan with a for-profit technical college; it is not part of a syndicate or a shared national credit program.
CoBiz expects to record a loan-loss provision in the fourth quarter of $4.4 million to $6.4 million, including the impairment loss on the $11.2 million loan.
CoBiz plans to reschedule the conference call on or near Feb. 12, when it also plans to issue its 2015 annual report.