Revenue for the fourth quarter of 2012 reached $303.6 million, up 5 percent from the year-ago period but down 4 percent from the third quarter of 2012. Revenue for the full-year 2012 totaled $1.2 billion, up 7 percent from 2011.
NET INTEREST INCOME
Fully taxable-equivalent net interest income was $209.1 million in the fourth quarter of 2012, up 1 percent from the same period of 2011 but down 3 percent from the third quarter of 2012. Fully taxable-equivalent net interest income for the full-year 2012 was $850.7 million, up 8 percent from $790.3 million in 2011.Fourth-quarter average deposits reached a record $23.4 billion, up 14 percent from the fourth quarter of 2011 and up 7 percent from the third quarter of 2012. Average deposits for the full-year 2012 totaled $21.6 billion, up 12 percent from 2011. Period-end deposits grew to $23.5 billion, up 15 percent from December 31, 2011 and up 4 percent from September 30, 2012. Average core deposits were $22.8 billion in the fourth quarter of 2012, up 15 percent from the same period of 2011 and up 7 percent from the third quarter of 2012. Full-year 2012 average core deposits grew 13 percent from 2011 to $20.9 billion. Fourth-quarter 2012 average noninterest-bearing deposits were up 31 percent from the same period of 2011 and up 11 percent from the third quarter of 2012. Average noninterest-bearing balances for the full-year 2012 were up 31 percent from 2011. Treasury Services deposit balances, which consist primarily of title, escrow and property management deposits, averaged $2.4 billion in the fourth quarter of 2012, up 32 percent from the same period of 2011 and up 6 percent from the third quarter of 2012. Treasury Services deposit balances averaged $2.2 billion for the full-year 2012, up 25 percent from 2011. The increases reflect higher residential refinance activity, as well as sales of existing homes during the quarter.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV