This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Liberty Bell Bank Reports Third Quarter And Year To Date Earnings

The decrease in net interest income for both the three and nine month periods was due primarily to the reversal of interest earned on loans that were placed on non-accrual. The increase in the provision for loan losses was due to the Bank’s write-down of non-performing loans. In addition, specific reserves were established for several loan relationships.

Net interest margin for the nine months ended September 30, 2012 was 3.64%, a decrease of 0.22% from 3.86% for the nine months ended September 30, 2011. The margin decrease was mainly the result of a 0.37% lower yield from interest-earning assets partially offset by a 0.16% reduction in the rate paid for interest-bearing deposits.

Total assets at September 30, 2012 were $184.7 million, representing an increase of $11.8 million from December 31, 2011. The increase was due primarily to an increase in cash and cash equivalents which increased $11.6 million while investments increased $7.7 million. Gross loans, totaled $125.1 million at September 30, 2012, a decrease of $8.1 million from $133.2 million at December 31, 2011. The allowance for loan losses at September 30, 2012 was $1.9 million, an increase of $567,000 from $1.3 million at December 31, 2011. Other real estate owned at September 30, 2012 was $6.0 million, an increase of $1.5 million from $4.5 million at December 31, 2011.

Total deposits increased $14.1 million to $164.7 million at September 30, 2012 from $150.6 million at December 31, 2011. The increase was primarily due to an $8.2 million increase in non-interest bearing demand accounts and a $5.9 million increase in interest bearing accounts. The increase in interest bearing accounts was primarily money market deposit accounts which increased $12.3 million from $26.6 million at December 31, 2011 to $38.9 million at September 30, 2012. Certificates of deposit and brokered deposits, our highest cost deposits, decreased $6.2 million and $1.2 million, respectively, from December 31, 2011 to September 30, 2012.

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs