- Asset quality continues to be strong. Nonperforming assets remained low at 0.62% of total assets, and annualized net loan charge offs were 0.63% of loans outstanding. Real estate owned decreased to $2.5 million from $3.0 million at the previous quarter ended December 31, 2011 , and the Company currently has $0 loans receivable past due 90 days or more.
- The Company’s tax equivalent net interest margin was 3.71% for the current quarter, up from 3.67% in the same quarter of 2011. This compares to 3.88% for the previous quarter ended December 31, 2011.
- Total assets at period-end were $2.61 billion versus $2.06 billion one year earlier, an increase of 26.6%.
- Loans held for investment grew to $1.66 billion, an increase of $247 million, or 17.5%, compared to the March 31, 2011.
- Total deposits grew to $1.862 billion, an increase of 34.2% compared to March 31, 2011.
- All capital ratios substantially exceed the requirements of banking regulators to be considered well-capitalized. Tangible common equity capital (TCE) as a percentage of total assets was 9.33%.
Cardinal Announces Improved Quarterly Earnings; Asset Quality Remains Strong
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.