- 21% increase in total revenues to $35.6 million compared to $29.4 million in third quarter 2011.
- 57% increase in diluted earnings per share to $0.11 for the third quarter of 2012 versus $0.07 for the third quarter of 2011. Diluted earnings per share amounted to $0.34 for the nine months ended September 30, 2012 compared to diluted earnings per share of $0.18 for the nine months ended September 30, 2011.
- 85% increase in quarterly prepaid card fees to $7.5 million compared to $4.0 million in third quarter 2011.
- 67% increase in quarterly non-interest income (including prepaid card fees) to $11.1 million compared to $6.7 million in third quarter 2011 excluding security gains and other than temporary impairment (OTTI).
- 10% increase in quarterly net interest income to $21.6 million compared to $19.6 million in third quarter 2011. On a linked quarter basis, net interest income grew at an annualized 13% rate, primarily reflecting higher loan income.
- The linked quarter net interest margin increased to 2.90% from 2.59%.
- At September 30, 2012 the portfolio of loans and securities had grown to $2.5 billion, an increase of $372 million, or 17% over third quarter 2011. Outstanding loans increased 9% over that period.
- Average deposits for third quarter 2012 totaled $2.8 billion, an increase of $295 million or 12% over 2011, reflecting growth in all major deposit categories. The interest paid on deposits between those respective periods decreased to 0.37% from 0.45%.
The Bancorp, Inc. Reports Third Quarter 2012 Financial Results
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