Net loans increased $74.3 million during the quarter to $3.21 billion at December 31, 2011, compared to $3.14 billion at September 30, 2011. Net loans were $3.31 billion a year ago. Commercial and agricultural business loans increased to $819.6 million at December 31, 2011 compared to $792.4 million at September 30, 2011, and $790.4 million a year ago. Commercial and multi-family real estate loans were $1.23 billion at December 31, 2011, reflecting a modest increase from $1.20 billion at both September 30, 2011 and a year earlier.
The combined total of securities at fair value, available for sale and held to maturity, increased to $622.0 million at December 31, 2011 compared to $548.4 million at September 30, 2011 and $367.7 million at December 31, 2010. However, the aggregate total of securities and interest-bearing deposits decreased to $691.7 million at December 31, 2011 compared to $783.2 million at September 30, 2011 and was nearly unchanged compared to $689.6 million at December 31, 2010. The increase in the securities holdings reflects a modest extension of the expected duration of this aggregate total designed to increase the yield relative to interest-bearing deposits. The securities purchased in recent periods were primarily short- to intermediate-term U.S. Government Agency notes and mortgage-backed securities.
Total assets were $4.26 billion at December 31, 2011, compared to $4.29 billion at the end of the preceding quarter and $4.41 billion a year ago. Deposits totaled $3.48 billion at December 31, 2011, compared to $3.54 billion at September 30, 2011 and $3.59 billion a year ago. Non-interest-bearing accounts increased 29% to $777.6 million at December 31, 2011, compared to $600.5 million a year ago. At September 30, 2011, non-interest-bearing accounts totaled $763.0 million. Interest-bearing transaction and savings accounts were $1.45 billion at December 31, 2011, compared to $1.46 billion at September 30, 2011 and $1.43 billion at December 31, 2010.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV