Net loans increased by $20.6 million, or 12.0%, to $191.1 million at December 31, 2010 from $170.5 million at December 31, 2009, as a result of funds provided by sale of our common stock and new customer deposits. Our one- to four-family residential mortgage loans increased $15.8 million to $140.3 million at December 31, 2010 from $124.5 million at December 31, 2009, due primarily to new loan originations. In addition, our commercial real estate portfolio increased $6.7 million to $29.3 million at December 31, 2010. In contrast, consumer loans decreased $2.1 million to $20.4 million at December 31, 2010 from $22.5 million at December 31, 2009.Deposits increased by $15.6 million, or 9.1%, to $188.2 million at December 31, 2010 from $172.6 million at December 31, 2009. The increase resulted primarily from deposit inflows from existing customers, as well as commercial deposit growth.
SP Bancorp, Inc. Announces Increased Earnings For The 4th Quarter And Year Of 2010
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