Net interest margin increased 14 basis points to 3.73% in the third quarter of 2010 from our margin of 3.59% in the prior year third quarter due primarily to lower cost of funds. The yield on earning assets declined 49 basis points from the 2009 third quarter while rates paid on interest-bearing liabilities declined 74 basis points. Net interest margin increased 2 basis points to 3.73% from our margin of 3.71% in the second quarter of 2010 due primarily to a lower average cost of funds. Both yield on earning assets and cost of interest-bearing liabilities decreased 12 basis points from the second quarter of 2010.“Our net interest margin rose to its highest level since the first quarter of 2007, highlighting our focus on improving our core earnings,” continued Ms. Bouvette.
Porter Bancorp, Inc. Announces Third Quarter 2010 Results
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