Our credit metrics remained very sound. Net charge-offs were $10.2 million for the full year, down from $29.6 million in 2010. The allowance from loan losses as a percentage of non-accrual loans was 315% at December 31st, 2011, up from 275% a year ago. Non-performing assets were 0.33% of total assets at December 31st, 2011 compared to 0.29% a year ago. At the end of the fourth quarter, our Tier 1 risk-based capital ratio was 12.61%, total risk-based capital was 13.71% and Tier I leverage ratio was 9.20.Our tangible common equity ratio was 8.01% at December 31st, 2011. We strengthened our capital base with a public equity offering in March, 2011 as well as our retention of earnings. As a result, we were able to fully redeem the TARP preferred shares and warrants while continuing to have a solid capital foundation to respond to growth opportunities.
Sterling Bancorp's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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