At September 30, 2012, total assets were $507.3 million compared to $522.9 million at June 30, 2012. Net loans decreased $9.3 million, or 2.9%, to $313.2 million at September 30, 2012, compared to $322.5 million at June 30, 2012, due to reduced loan demand combined with normal paydowns on existing loans. Reduced loan demand is primarily the result of continued economic weakness in the Bank’s market areas.Total deposits decreased $16.5 million, or 3.9%, to $407.4 million at September 30, 2012 compared to $423.9 million at June 30, 2012. Certificates of deposit decreased $6.9 million, or 4.1%, to $163.5 million while transaction accounts decreased $9.6 million, or 3.8%, to $243.9 million at September 30, 2012. The average cost of interest-bearing deposits for the three month period ended September 30, 2012 was 0.49% compared to 0.96% for the corresponding period in 2011. Certificates of deposit comprised 40.1% of total deposits at September 30, 2012 compared to 40.2% of total deposits at June 30, 2012.
Jefferson Bancshares, Inc. Announces Earnings For The Quarter Ended September 30, 2012
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