"Our employees have a strong commitment to an approach that benefits customers and shareholders alike and parallels our commitment to provide excellent bank services in the communities we serve. Our business plan reduces nonperforming assets, adds to our strong capital base while providing customers with more options. Fortunately, strong core earnings allow us greater flexibility for accomplishing these goals."Net interest income for the 4th quarter 2009 was $7.25 million, up $176,000 from the 4th quarter of 2008 for an increase of 2.5%. The net interest margin increased from 4.02% in the 4th quarter 2008 to 4.67% in 2009. For the twelve months ended December 31, 2009 net interest income was $28,347,000, down $1,862,000 from $30,209,000 for the same period in 2008 for an 6.16% decline. The net interest margin was 4.36% for the twelve month period ended December 31, 2008 and 4.51% for the same period in 2009.
United Security Bancshares 4th Quarter - Improving Trends Continue
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