Total deposits rose 4.7% in 2011 to $527.1 million, compared with $503.5 million at year-end 2010. “We are pleased that our strong balance sheet continued to attract new deposit accounts,” stated Mr. House. “We are also pleased to report that our capital remains above the ‘well-capitalized’ guidelines, the highest regulatory rating. We have maintained our high regulatory rating without government loans and remain focused on protecting our capital base for our shareholders and depositors.”Net interest income rose to $35.3 million in 2011, compared with $34.8 million in 2010. The increase in net interest income was due primarily to an increase in net interest margin to 6.17% in 2011, compared with 5.83% in 2010. The growth in 2011’s net interest margin resulted primarily from a lower cost of funds compared with 2010.
United Security Bancshares, Inc. Reports 2011 Results
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