Exhibit 99.1

FOR IMMEDIATE RELEASE

DATE:		October 27, 2011
CONTACT:		Thomas D. Cestare
		Executive Vice President and Chief Financial Officer
PHONE:		(215) 864-6009

BENEFICIAL MUTUAL BANCORP, INC. REPORTS THIRD QUARTER NET INCOME OF $4.1 MILLION

PHILADELPHIA, PENNSYLVANIA, October 27, 2011 — Beneficial Mutual Bancorp, Inc. (“Beneficial”) (NASDAQGS: BNCL), the parent company of Beneficial Bank (the “Bank” or the “Company”), today announced its financial results for the three and nine months ended September 30, 2011.

Beneficial recorded net income of $4.1 million, or $0.05 per share, for the quarter ended September 30, 2011, compared to a net loss of $21.7 million, or $0.28 per share, for the quarter ended September 30, 2010. Net income for the nine months ended September 30, 2011 totaled $5.2 million or $0.07 per share, compared to a net loss of $8.6 million, or $0.11 per share, for the nine months ended September 30, 2010. Net income for the nine months ended September 30, 2011 included $5.1 million of restructuring charges related to the implementation of an expense management reduction program during the first quarter of 2011. Net loss for the quarter and nine months ended September 30, 2010 was driven by a provision for loan losses of $51.1 million and $62.2 million, respectively, due to specific reserves required for commercial real estate loans. During the quarter ended September 30, 2011, we repurchased approximately 274,000 shares of our stock and adopted a new stock repurchase program that will enable us to acquire up to 2,500,000 shares, or 7.0% of the Company’s outstanding common stock. Capital levels improved and remain strong with tangible capital to tangible assets increasing to 11.2% at September 30, 2011 compared to 10.2% at December 31, 2010.

Gerard Cuddy, Beneficial’s President and CEO, stated, “During the third quarter, we continued to see improved profitability and capital levels as a result of the initiatives we have put in place during the year. We also are encouraged by the second consecutive quarter where we saw stabilization in our non-performing assets.”

“However, we remain concerned about economic conditions and the interest rate environment and believe we are in a period of slow growth that will last well past 2012. The local and national market data for housing, unemployment, retail sales, and business confidence coupled with the international banking crisis, will continue to restrain economic growth and compress industry margins. This outlook has shaped our thinking with regard to strategic and financial planning, capital management, and talent acquisition. Despite low loan demand, we are continuing to prudently expand our lending and credit teams to reposition the balance sheet while taking market share.”

“The only sign of encouragement on the economy thus far this year is that the American consumer appears to be emerging as the only rational player, working to meet their obligations, de-lever, and return to a savings rate and discipline that has been missing for the last decade.”

Although credit costs have decreased from the prior year, credit costs continue to have a significant impact on our financial results. During the three and nine months ended September 30, 2011, the Bank recorded a provision for credit losses in the amount of $9.0 million and $29.0 million, respectively, compared to $51.1 million and $62.2 million for the three and nine months ended September 30, 2010, respectively. We have begun to see some stabilization in our credit quality as non-performing assets remained relatively constant for the quarter at $163.5 million as compared to $162.6 million at June 30, 2011 and $161.7 million at March 31, 2011. However, we remain cautious given the current economic environment and future outlook with slow GDP growth, high unemployment levels, and soft residential and commercial real estate markets. As a result, we continue to build our reserves. At September 30, 2011, the Company’s allowance for loan losses totaled $54.1 million, or 2.01% of total loans, compared to $45.4 million, or 1.62% of total loans, at December 31, 2010. Approximately one-third of our commercial real estate and commercial construction portfolios contractually matures in 2011 and we are actively managing these maturities and continuing to write off collateral deficiencies on all classified loans once they are 90 days delinquent. We expect that market conditions, coupled with the large amount of commercial maturities, will result in an elevated provision for credit losses for the rest of 2011.

During the quarter, the balance of deposits decreased $155.7 million primarily due to the run-off of higher cost, non-relationship-based deposits. At September 30, 2011, we had higher than usual cash balances as we were holding cash to cover additional municipal deposit run-off that is expected to occur during the remainder of 2011, as well as investments that were purchased and had not yet settled as of September 30, 2011. The balance of loans decreased by $42.2 million during the quarter as a result of continued slow loan demand. Also during the quarter, we benefited from the impact of the expense management reduction program we implemented in the first quarter of 2011, as total operating expenses decreased $5.1 million to $28.2 million for the quarter ended September 30, 2011 compared to $33.3 million for the third quarter of 2010.

Highlights for the quarter and year ended September 30, 2011:

•

Non-performing assets were relatively stable during the quarter at $163.5 million compared to $162.6 million at June 30, 2011.

•

At September 30, 2011, the Company’s allowance for loan losses totaled $54.1 million, or 2.01% of total loans, compared to $45.4 million, or 1.62% of total loans, at December 31, 2010.

•

Total deposits decreased by $340.6 million, or 8.6%, to $3.6 billion at September 30, 2011, from $3.9 billion at December 31, 2010, primarily due to the run-off of $369.9 million in municipal deposit accounts.

•

Non-interest income increased by $564 thousand, or 9.8%, to $6.3 million at September 30, 2011 compared to $5.7 million at September 30, 2010 primarily due to a $308 thousand increase in the gain on loan sales related to our SBA lending program and mortgage banking activities, and increased debit card fees.

•

Operating expenses decreased $5.1 million for the quarter ended September 30, 2011 compared to the same period in 2010 as a result of the expense management reduction program implemented during the first quarter of 2011.

•

Capital levels improved and remain strong with tangible capital to tangible assets increasing to 11.2% at September 30, 2011 compared to 10.2% at December 31, 2010.

•

During the quarter, we repurchased approximately 274,000 shares of our stock and adopted a new stock repurchase program that will enable us to acquire up to 2,500,000 shares, or 7.0% of the Company’s outstanding common stock.

Balance Sheet

Total assets decreased $297.2 million, or 6.0%, to $4.6 billion at September 30, 2011 from $4.9 billion at December 31, 2010. During the year, management took advantage of low interest rates to increase profitability, improve the Bank’s capital position and reduce the Bank’s interest rate risk profile by selling investments and reducing higher cost, non-relationship-based municipal deposits. At September 30, 2011, we had higher than usual cash balances as we were holding cash to cover additional municipal deposit run-off that is expected to occur during the remainder of 2011, as well as approximately $77.3 million of investment purchases that had not yet settled as of September 30, 2011. As a result, cash and cash equivalents increased from $90.3 million at December 31, 2010 to $398.1 million at September 30, 2011. The balance of investments at September 30, 2011 decreased $402.7 million, or 24.4%, to $1.2 billion from $1.6 billion at December 31, 2010, as we continue to sell longer term investments to shorten the duration of the investment portfolio and better position Beneficial for rising interest rates.

Total loans decreased $109.0 million, or 3.9%, to $2.7 billion at September 30, 2011 from $2.8 billion at December 31, 2010, primarily due to continued slow loan demand as consumers and businesses continue to deleverage and remain cautious about the economy. We expect loan demand to remain weak for the rest of 2011. Additionally, we continue to sell the majority of our residential mortgage loan production with approximately $12.4 million of loans sold in the third quarter of 2011.

At September 30, 2011, Beneficial’s stockholders’ equity increased to $628.5 million, or 13.6% of total assets, compared to $615.5 million, or 12.5% of total assets, at December 31, 2010.

Net Interest Income

For the quarter ended September 30, 2011, Beneficial reported net interest income of $34.8 million, a decrease of $259 thousand, or 0.7%, from the quarter ended September 30, 2010. Net interest income for the third quarter of 2010 included interest reversals of $2.6 million related to loans that were put on non-accrual status which resulted in a 24 basis point reduction to net interest margin for the quarter. Net interest income for the three months ended September 30, 2011 has been impacted by high levels of cash as we have actively run-off higher cost, non-relationship-based municipal deposits to improve our interest rate risk position and capital levels. The net interest margin was 3.21% for the quarter ended September 30, 2011, compared to 3.14% for the quarter ended September 30, 2010. We have been able to lower the cost of our liabilities to 0.98% for the quarter ended September 30, 2011 compared to 1.27% for the quarter ended September 30, 2010, by reducing borrowings and repricing higher cost deposits. The reduction in deposit costs has been primarily due to decreasing rates on our municipal deposit portfolio as we run-off of higher cost, non-relationship-based municipal deposits. In addition, rates have dropped in all other deposit categories consistent with the interest rate environment.

For the nine months ended September 30, 2011, net interest income decreased $3.2 million, or 2.9%, to $107.3 million from $110.5 million for the nine months ended September 30, 2010. The net interest margin decreased 13 basis points to 3.22% for the nine months ended September 30, 2011, from 3.35% for the nine months ended September 30, 2010. The decrease in net interest income was driven by excess levels of cash and by low interest rates which have reduced the yields on our investment portfolio as excess liquidity is invested at lower yields. Mortgage re-financings have also resulted in lower yields on our mortgage portfolio. We have been able to reduce the cost of our interest bearing liabilities over this time period with average rates decreasing to 1.02% for the nine months ended September 30, 2011, from 1.37% for the nine months ended September 30, 2010.

Non-interest Income

For the quarter ended September 30, 2011, non-interest income totaled $6.3 million, an increase of $564 thousand, or 9.8%, from the quarter ended September 30, 2010. The increase was primarily due to a $308 thousand gain on loan sales related to our SBA lending and mortgage banking programs and a $125 thousand increase in debit card fees.

Non-interest income decreased $2.1 million to $18.2 million for the nine months ended September 30, 2011 compared to the same period in 2010. The decrease in non-interest income was primarily due to a $1.8 million decrease in gain on the sale of securities.

Non-interest Expense

For the quarter ended September 30, 2011, non-interest expense totaled $28.2 million, a decrease of $5.1 million, or 15.4%, from the quarter ended September 30, 2010. The decrease in non-interest expense during the third quarter was primarily due to decreases in salaries and benefits, marketing, and loan expenses as a result of the expense reduction initiatives implemented during the first quarter of 2011.

Non-interest expense decreased $3.8 million to $91.5 million for the nine months ended September 30, 2011 compared to the same period in 2010, primarily due to a $3.9 million decrease in salaries and benefits, a $2.3 million decrease in marketing expense, a $628 thousand decrease in occupancy expense and a $600 thousand decrease in correspondent bank charges as a result of the expense reduction initiatives implemented during the first quarter of 2011. These decreases were partially offset by a $5.1 million restructuring charge related to the previously described expense reduction initiatives implemented in the first quarter of 2011.

Asset Quality

Non-performing loans, including loans 90 days past due and still accruing, remained relatively constant at $144.4 million at September 30, 2011, compared to $143.9 million at June 30, 2011. Non-performing loans at September 30, 2011 included $25.5 million of government guaranteed student loans, which represented 17.7% of total non-performing loans. Net charge offs during the quarter ended September 30, 2011 were $6.2 million, compared to $6.1 million for the quarter ended June 30, 2011, $8.0 million for the quarter ended March 31, 2011 and $7.6 million for the quarter ended December 31, 2010. At September 30, 2011, the Company’s allowance for loan losses totaled $54.1 million, or 2.01% of total loans, compared to $51.3 million, or 1.88% of total loans, at June 30, 2011 and $45.4 million, or 1.62% of total loans, at December 31, 2010.

Capital

Our capital ratios improved compared to the prior quarter as a result of our continued efforts to shrink the Company’s balance sheet. The Company’s capital position remains strong relative to current regulatory requirements. The Company continues to have substantial liquidity as the inflows of deposits have largely been retained in cash or invested in high quality government-backed securities. In addition, the Company continues to have significant available borrowing capacity from its contingent funding sources with over $1.0 billion in available liquidity. Our capital ratios as of September 30, 2011 compared to June 30, 2011 and December 31, 2010, as well as our excess capital over regulatory minimums as of September 30, 2011 to be considered well capitalized are as follows:

														Minimum Well				Excess Capital
		9/30/2011				6/30/2011				12/31/2010				Capitalized Ratio				9/30/2011
Tangible Capital			11.18	%			10.87	%			10.16	%
Tier 1 Capital (to average assets)			9.70	%			9.28	%			8.89	%			5	%		$	215,808
Tier 1 Capital (to risk weighted assets)			17.67	%			17.13	%			15.69	%			6	%		$	294,285
Total Capital (to risk weighted assets)			18.93	%			18.39	%			16.95	%			10	%		$	225,217

About Beneficial Mutual Bancorp, Inc.

Beneficial is a community-based, diversified financial services company providing consumer and commercial banking services. Its principal subsidiary, Beneficial Bank, has served individuals and businesses in the Delaware Valley area since 1853. The Bank is the oldest and largest bank headquartered in Philadelphia, Pennsylvania, with 60 offices in the greater Philadelphia and South New Jersey regions. Insurance services are offered through the Beneficial Insurance Services, LLC and wealth management services are offered through the Beneficial Advisors, LLC, both wholly owned subsidiaries of the Bank. For more information about the Bank and Beneficial, please visit www.thebeneficial.com.

Forward Looking Statements

This news release may contain forward-looking statements, which can be identified by the use of words such as “believes,” “expects,” “anticipates,” “estimates” or similar expressions. Such forward-looking statements and all other statements that are not historic facts are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. These factors include, but are not limited to, general economic conditions, changes in the interest rate environment, legislative or regulatory changes that may adversely affect our business, changes in accounting policies and practices, changes in competition and demand for financial services, adverse changes in the securities markets, changes in deposit flows and changes in the quality or composition of Beneficial’s loan or investment portfolios. Additionally, other risks and uncertainties may be described in Beneficial’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q or its other reports as filed with the Securities and Exchange Commission, which are available through the SEC’s website at www.sec.gov. Should one or more of these risks materialize, actual results may vary from those anticipated, estimated or projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as may be required by applicable law or regulation, Beneficial assumes no obligation to update any forward-looking statements.

BENEFICIAL MUTUAL BANCORP, INC. AND SUBSIDIARIES
Unaudited Consolidated Statements of Financial Condition
(Dollars in thousands)

		September 30,				June 30,				December 31,				September 30,
		2011				2011				2010				2010
ASSETS:
Cash and Cash Equivalents:
Cash and due from banks		$	38,029			$	36,458			$	33,778			$	38,223
Interest-bearing deposits			360,051				310,704				56,521				177,887
Total cash and cash equivalents			398,080				347,162				90,299				216,110
Trading Securities			—				—				6,316				—
Investment Securities:
Available-for-sale			814,857				901,563				1,541,991				1,419,095
Held-to-maturity			414,319				406,914				86,609				88,782
Federal Home Loan Bank stock, at cost			19,929				20,978				23,244				27,168
Total investment securities			1,249,105				1,329,455				1,651,844				1,535,045
Loans:			2,687,415				2,729,592				2,796,402				2,768,753
Allowance for loan losses			(54,120	)			(51,298	)			(45,366	)			(44,959	)
Net loans			2,633,295				2,678,294				2,751,036				2,723,794
Accrued Interest Receivable			16,685				17,496				19,566				18,483
Bank Premises and Equipment, net			60,199				61,302				64,339				69,466
Other Assets:
Goodwill			110,486				110,486				110,486				110,486
Bank owned life insurance			34,901				34,529				33,818				33,464
Other intangibles			14,244				15,153				16,919				17,777
Other assets			115,613				118,604				185,162				174,561
Total other assets			275,244				278,772				346,385				336,288
Total Assets		$	4,632,608			$	4,712,481			$	4,929,785			$	4,899,186
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Liabilities:
Deposits:
Non-interest bearing deposits		$	276,035			$	288,799			$	282,050			$	292,159
Interest bearing deposits			3,325,662				3,468,642				3,660,254				3,566,144
Total deposits			3,601,697				3,757,441				3,942,304				3,858,303
Borrowed funds			250,330				250,326				273,317				343,313
Other liabilities			152,088				80,700				98,617				63,481
Total liabilities			4,004,115				4,088,467				4,314,238				4,265,097
Commitments and Contingencies
Stockholders’ Equity:
Preferred Stock — $.01 par value			—				—				—				—
Common Stock — $.01 par value			823				823				823				823
Additional paid-in capital			349,994				349,221				348,415				347,581
Unearned common stock held by employee stock ownership plan			(20,306	)			(21,066	)			(22,587	)			(23,073	)
Retained earnings (partially restricted)			309,391				305,313				304,232				304,589
Accumulated other comprehensive income (loss), net			4,516				3,177				(1,882	)			12,752
Treasury stock, at cost			(15,925	)			(13,454	)			(13,454	)			(8,583	)
Total stockholders’ equity			628,493				624,014				615,547				634,089
Total Liabilities and Stockholders’ Equity		$	4,632,608			$	4,712,481			$	4,929,785			$	4,899,186

BENEFICIAL MUTUAL BANCORP, INC. AND SUBSIDIARIES
Unaudited Consolidated Statements of Operations
(Dollars in thousands, except per share amounts)

		For the Three Months Ended												For the Nine Months Ended
		September 30,				June 30,				September 30,				September 30,				September 30,
		2011				2011				2010				2011				2010
INTEREST INCOME:
Interest and fees on loans		$	34,577			$	35,610			$	35,480			$	106,013			$	109,940
Interest on overnight investments			254				247				151				603				321
Interest on trading securities			—				—				14				26				70
Interest and dividends on investment securities:
Taxable			8,286				8,952				10,497				27,210				35,146
Tax-exempt			849				923				1,150				2,764				3,552
Total interest income			43,966				45,732				47,292				136,616				149,029
INTEREST EXPENSE:
Interest on deposits:
Interest bearing checking accounts			1,562				2,195				2,556				6,187				7,616
Money market and savings deposits			2,300				2,293				2,441				6,998				7,045
Time deposits			3,173				3,354				3,395				9,646				11,621
Total			7,035				7,842				8,392				22,831				26,282
Interest on borrowed funds			2,100				2,137				3,810				6,506				12,208
Total interest expense			9,135				9,979				12,202				29,337				38,490
Net interest income			34,831				35,753				35,090				107,279				110,539
Provision for loan losses			9,000				10,000				51,050				29,000				62,200
Net interest income after provision for loan losses			25,831				25,753				(15,960	)			78,279				48,339
NON-INTEREST INCOME:
Insurance and advisory commission and fee income			1,898				1,667				1,944				6,102				6,716
Service charges and other income			4,205				3,470				3,387				11,368				11,076
Net gain on sale of investment securities			197				233				370				616				2,374
Impairment charge on AFS securities			—				—				(88	)			—				(88	)
Trading securities profits			—				—				123				81				235
Total non-interest income			6,300				5,370				5,736				18,167				20,313
NON-INTEREST EXPENSE:
Salaries and employee benefits			13,960				13,482				15,580				42,452				46,316
Occupancy expense			2,610				2,635				2,906				8,338				8,966
Depreciation, amortization and maintenance			2,165				2,143				2,443				6,556				6,859
Marketing expense			951				872				2,392				2,720				5,041
Intangible amortization expense			908				906				886				2,674				2,653
FDIC Insurance			1,055				1,621				1,361				4,314				4,065
Restructuring charge			—				963				—				5,058				—
Other			6,575				6,475				7,783				19,411				21,415
Total non-interest expense			28,224				29,097				33,351				91,523				95,315
Income (Loss) before income taxes			3,907				2,026				(43,575	)			4,923				(26,663	)
Income tax (benefit) expense			(172	)			47				(21,845	)			(236	)			(18,057	)
NET INCOME (LOSS)		$	4,079			$	1,979			$	(21,730	)		$	5,159			$	(8,606	)
EARNINGS (LOSS) PER SHARE — Basic		$	0.05			$	0.03			$	(0.28	)		$	0.07			$	(0.11	)
EARNINGS (LOSS) PER SHARE — Diluted		$	0.05			$	0.03			$	(0.28	)		$	0.07			$	(0.11	)
Average common shares outstanding — Basic			77,132,264				77,092,682				77,541,313				77,077,506				77,721,359
Average common shares outstanding — Diluted			77,244,916				77,301,043				77,541,313				77,250,785				77,721,359

BENEFICIAL MUTUAL BANCORP, INC. AND SUBSIDIARIES
Selected Consolidated Financial and Other Data of the Company (Unaudited)
(Dollars in thousands)

		Three Months Ended																Nine Months Ended
		September 30, 2011								September 30, 2010								September 30, 2011								September 30, 2010
		Average				Yield /				Average				Yield /				Average				Yield /				Average				Yield /
		Balance				Rate				Balance				Rate				Balance				Rate				Balance				Rate
Investment Securities:		$	1,627,254				2.31	%		$	1,648,672				2.87	%		$	1,700,471				2.40	%		$	1,606,970				3.24	%
Trading Securities			—				0.00	%			4,350				1.25	%			2,976				1.19	%			7,965				1.17	%
Overnight investments			397,463				0.25	%			237,271				0.25	%			318,099				0.25	%			169,462				0.25	%
Stock			20,248				0.00	%			27,764				0.60	%			21,435				0.03	%			27,965				0.56	%
Other Investment securities			1,209,543				3.02	%			1,379,287				3.37	%			1,357,961				2.94	%			1,401,578				3.67	%
Loans:			2,708,194				5.09	%			2,812,250				5.03	%			2,749,367				5.15	%			2,797,521				5.25	%
Residential			678,447				4.92	%			673,600				5.00	%			691,976				4.93	%			666,153				5.27	%
Commercial Real Estate			765,834				4.97	%			797,965				4.55	%			774,691				5.09	%			788,323				4.87	%
Business and Small Business			505,706				5.65	%			549,331				5.16	%			514,807				5.66	%			538,109				5.52	%
Personal Loans			758,207				4.98	%			791,354				5.44	%			767,893				5.06	%			804,936				5.41	%
Total Interest Earning Assets		$	4,335,448				4.05	%		$	4,460,922				4.23	%		$	4,449,838				4.10	%		$	4,404,491				4.52	%
Deposits:		$	3,438,916				0.81	%		$	3,426,923				0.97	%		$	3,570,013				0.86	%		$	3,362,313				1.05	%
Savings			764,729				0.65	%			651,867				0.75	%			733,744				0.67	%			605,770				0.72	%
Money Market			594,802				0.69	%			605,550				0.79	%			610,703				0.72	%			623,467				0.81	%
Demand			440,133				0.21	%			382,554				0.28	%			422,689				0.23	%			369,063				0.30	%
Demand — Municipals			764,812				0.69	%			901,353				1.01	%			912,305				0.80	%			872,710				1.04	%
Total Core Deposits			2,564,476				0.60	%			2,541,324				0.78	%			2,679,441				0.66	%			2,471,010				0.79	%
Time Deposits			874,440				1.44	%			885,599				1.53	%			890,572				1.46	%			891,303				1.75	%
Borrowings			250,328				3.33	%			376,571				4.01	%			257,368				3.38	%			401,337				4.07	%
Total Interest Bearing Liabilities		$	3,689,244				0.98	%		$	3,803,494				1.27	%		$	3,827,381				1.02	%		$	3,763,650				1.37	%
Non-interest bearing deposits			275,650								274,642								280,332								263,930
Net interest margin							3.21	%							3.14	%							3.22	%							3.35	%

BENEFICIAL MUTUAL BANCORP, INC. AND SUBSIDIARIES
Unaudited Consolidated Statements of Operations
(Dollars in thousands)

		September 30,				June 30,				December 31,				September 30,
		2011				2011				2010				2010
ASSET QUALITY INDICATORS:
Non-performing assets:
Non-accruing loans		$	118,901			$	118,697			$	95,803			$	89,205
Accruing loans past due 90 days or more*			25,515				25,173				27,932				27,106
Total non-performing loans**		$	144,416			$	143,870			$	123,735			$	116,311
Real estate owned			19,058				18,740				16,694				17,438
Total non-performing assets		$	163,474			$	162,610			$	140,429			$	133,749
Non-performing loans to total loans			5.37	%			5.27	%			4.42	%			4.20	%
Non-performing loans to total assets			3.12	%			3.05	%			2.51	%			2.37	%
Non-performing assets to total assets			3.53	%			3.45	%			2.85	%			2.73	%
Non-performing assets less accruing loans past due 90 days or more to total assets			2.98	%			2.92	%			2.28	%			2.18	%

*		Includes $25.5 million, $25.2 million, $27.9 million and $26.6 million in government guaranteed student loans as of September 30, 2011, June 30, 2011, December 31, 2010 and September 30, 2010, respectively.
**		Includes $26.5 million, $27.0 million, $26.7 million and $26.5 million of troubled debt restructured loans (TDRs) as of September 30, 2011, June 30, 2011, December 31, 2010 and September 30, 2010 respectively.

Impaired loan charge offs as a percentage of the unpaid principal balances at September 30, 2011 are as follows:

At September 30, 2011		Recorded				Unpaid Principal								% of Unpaid
(Dollars in thousands)		Investment				Balance				Charge offs				Principal Balance
Impaired Loans by Category:
Commercial Real Estate		$	33,373			$	46,337			$	(12,964	)			27.98	%
Commercial Business			25,303				32,004				(6,701	)			20.94	%
Commercial Construction			42,332				69,031				(26,699	)			38.68	%
Residential Real Estate			14,442				14,991				(549	)			3.66	%
Residential Construction			1,967				2,066				(99	)			4.79	%
Consumer Personal			1,484				1,621				(137	)			8.45	%
Total Impaired Loans		$	118,901			$	166,050			$	(47,149	)			28.39	%

Key Performance ratios (annualized) are as follows for the three month and nine month periods indicated:

		For the Three Months Ended												For the Nine Months Ended
		September 30,				June 30,				December 31,				September 30,
		2011				2011				2010				2011				2010
PERFORMANCE RATIOS:(annualized)
Return on average assets			0.34	%			0.16	%			-0.04	%			0.14	%			-0.24	%
Return on average equity			2.54	%			1.30	%			-0.28	%			1.13	%			-1.74	%
Net interest margin			3.21	%			3.16	%			3.24	%			3.22	%			3.35	%
Efficiency ratio			68.79	%			70.71	%			75.35	%			72.91	%			72.80	%
Tangible Common Equity			11.18	%			10.87	%			10.16	%			11.18	%			10.60	%