Third-quarter net interest income included $22.2 million from FDIC-covered loans that were repaid or charged off during the quarter. This compares with $18.3 million in the third quarter of 2011 and $27.4 million in the second quarter of this year.
At September 30, 2012, City National's prime lending rate was 3.25 percent, unchanged from both September 30, 2011 and June 30, 2012.
|For the three months ended||For the three|
|September 30,||%||months ended||%|
|Dollars in millions||2012||2011||Change||June 30, 2012||Change|
|Average Loans and Leases, excluding Covered Loans||$ 13,587.5||$ 11,796.6||15||$ 13,125.9||4|
|Average Covered Loans||1,207.0||1,664.3||(27)||1,341.0||(10)|
|Average Total Securities||8,631.4||6,954.1||24||7,755.3||11|
|Average Earning Assets||23,892.0||21,316.6||12||22,769.1||5|
|Average Core Deposits||21,208.5||18,923.6||12||20,215.2||5|
|Fully Taxable-Equivalent Net Interest Income||214.8||203.6||6||221.4||(3)|
|Net Interest Margin||3.58 %||3.79 %||(6)||3.91 %||(8)|
Loans and other real estate owned (OREO) assets acquired in City National's FDIC‑assisted bank acquisitions totaled $1.2 billion at the end of the third quarter of 2012 compared to $1.7 billion at September 30, 2011 and $1.3 billion at June 30, 2012.
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