“Our mix of deposits continues to improve with balances in transaction accounts at September 30, 2012 representing 89% of total deposits, up from 86% a year ago,” said Joe Schierhorn, Chief Financial Officer. At the end of September 2012, total deposits were $944.9 million, compared to $894.8 million at June 30, 2012, and $893.6 million a year ago.Noninterest-bearing demand deposits at September 30, 2012, were up 15% from a year ago and interest-bearing demand deposits grew 3%. Money market and savings account balances at September 30, 2012 were up 11% from year ago levels, Alaska CD (a flexible certificate of deposit program) balances were up 3% at the end of September while time deposit balances fell 21% compared to the third quarter a year ago. At the end of the third quarter of 2012, noninterest-bearing demand deposits accounted for 37% of total deposits, interest-bearing demand accounts were 15%, savings deposits were 9%, money market balances accounted for 18%, the Alaska CD accounted for 10% and time certificates were 11% of total deposits.
Northrim BanCorp Earns $4.1 Million, Or $0.62 Per Diluted Share, In Third Quarter Of 2012
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