Core deposits increased 9.13% year-over-year and non-interest income, excluding gains on the sale of investment securities and SBA loans and the write down of OREO properties, was $1.2 million for the fourth quarter, representing a 36.30% increase over 2011 and $3.9 million for the full year 2012, up 17.97% from $3.4 million in 2011."We continued to accrue capital through retained earnings and have grown low-cost core deposits, which provide necessary liquidity to meet our funding needs. Our net loan balances declined, but not due to weak loan demand. Gross loans funded in 2012 were $89.7 million compared to $78.7 million in 2011. However, pay-downs were $96.9 million for 2012, up from $71.2 million in 2011."
DNB Financial Corporation Reports Strong Earnings, Book Value And Asset Growth For 2012
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