Total liabilities as of September 30, 2012 were $318,695,000, up $3,158,000 or approximately 1% from $315,537,000 as of December 31, 2011. Deposits were up $3,354,000, primarily as a result of a $5,231,000 or approximately 16% increase in demand deposits and a $4,327,000 or approximately 3% increase in savings and NOW accounts. These increases were partially offset by a $6,204,000 or approximately 4% decrease in time deposits from December 31, 2011. The decrease in time deposits was a result of the Bank’s increased focus on attracting more core deposit relationships in an effort to decrease time deposit dependency.Total stockholders’ equity as of September 30, 2012 was $28,189,000 representing an average equity to assets ratio of 8.08%. In comparison, total stockholders’ equity was $26,947,000 as of December 31, 2011. The Bank continues to be well capitalized by all regulatory standards and has not received any TARP funding.
Pinnacle Bankshares Corporation Announces Third Quarter 2012 Earnings
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