- Net interest margin (NIM) compressed 19 basis points to 5.48% from 5.67% in the preceding quarter, but increased 5 basis points from 5.43% in the year ago quarter.
- On a consolidated basis, Total Risk-Based Capital to risk-adjusted assets was 19.65% compared to 19.43% a year ago. The FDIC requires a minimum of 10% Total Risk-Based Capital ratio to be considered well-capitalized.
- Nonperforming non-covered assets/total assets improved to 1.29%, compared to 1.30% in the preceding quarter and 1.75% a year ago. Classified loans declined to $78.2 million at September 30, 2012, from $84.8 million at June 30, 2012.
- Tangible book value per common share increased to $11.31, compared to $10.33 a year ago.
- Low cost demand, money market, savings and NOW accounts totaled $986.5 million and make up 68% of total deposits.
- Loan loss reserves were 2.01% of non-covered loans, and 2.30% a year ago.
- The interest income generated from the loan portfolios in the FDIC-assisted acquisitions contributed $9.0 million to third quarter revenues, up from $8.6 million in the third quarter a year ago.
- Return on average assets was 1.10% and return on average common equity was 10.43%, annualized.
- The Seattle Times’ ranked Washington Banking Company as the top financial institution in the region for the third consecutive year in their 21st annual “Best of the Northwest” listing.
Washington Banking Company 3Q12 Profits Increase 28% To $4.6 Million; EPS Up 25% To $0.30 From $0.24 In 3Q11
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