Nonperforming assets shot up dramatically at Frontier Financial Corp. in Everett, Wash., resulting in a first-quarter loss of $33.8 million, or 72 cents per share.

The $4.2 billion-asset company said late Thursday that nonperformers made up 16.25% of its total assets at the end of the quarter, rising from an already elevated 10.87% in the fourth quarter and 0.97% a year earlier.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.