The Company reported total assets of $6.32 billion at September 30, 2012. This represents a decrease of $202.6 million, or 3.11%, from total assets of $6.52 million at June 30, 2012. Earning assets of $5.98 billion at September 30, 2012 decreased $170.9 million, or 2.78%, when compared with $6.15 billion at June 30, 2012. The decrease in earning assets was due to a decrease in interest-earning cash as a result of prepaying $250.0 million of FHLB Advances.
Total assets of $6.32 billion at September 30, 2012 decreased $161.6 million, or 2.49%, from total assets of $6.48 billion at December 31, 2011. Earning assets totaled $5.98 billion at September 30, 2012, a decrease of $153.1 million, or 2.50%, when compared with earning assets of $6.13 billion at December 31, 2011. The decrease in earning assets was due to a decrease in interest-earning cash as a result of prepaying $250.0 million of FHLB Advances.
Investment SecuritiesInvestment securities totaled $2.26 billion at September 30, 2012 and June 30, 2012, and were up from $2.20 billion at December 31, 2011. Our investment portfolio continues to perform well. As of September 30, 2012 we had a pretax unrealized gain of $83.6 million of which $46.6 million is attributed to our municipal securities portfolio and $36.7 million is attributed to the remainder of the portfolio which is predominantly our mortgage-backed securities (“MBS”) portfolio. MBS totaled $1.52 billion at September 30, 2012. Virtually all of our mortgage-backed securities are issued by Freddie Mac or Fannie Mae, which have the implied guarantee of the U.S. Government. We have one private-label mortgage-backed security that has impairment. This Alt-A bond, with a book value of $2.1 million as of September 30, 2012, has had $1.8 million in net impairment loss to date since it was purchased in early 2008 with no additional impairment recorded for the third quarter of 2012.
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