Compared with the quarter ended March 31, 2010, the net interest margin remained flat at 3.92% for the quarter ended June 30, 2010. Net interest income for the quarter ended June 30, 2010 was $31.2 million, decreasing slightly from $31.5 million for the linked quarter ended March 31, 2010. Total deposits also remained relatively stable at $2.45 billion at June 30, 2010 compared to $2.44 billion at March 31, 2010.Mortgage banking income was $2.4 million for the third quarter of fiscal 2010, an increase of $369 thousand or 17.8% from the linked quarter ended March 31, 2010 and an increase of $1.5 million or 147.2% from the comparative quarter ended June 30, 2009. The linked and comparable quarter increases are the result of increases in the volume of loans sold due to the lower mortgage rate environment combined with the positive impact of the hedging strategies utilized to protect the value of our capitalized mortgage servicing asset from interest rate risk.
First Financial Holdings, Inc. Announces Third Quarter Fiscal 2010 Results And Quarterly Dividend Payment
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