Fourth-quarter net interest income included $17.5 million from the FDIC-covered loans that were repaid or charged off during the quarter. This compares with $18.9 million in the fourth quarter of 2011 and $22.2 million in the third quarter of 2012.
At December 31, 2012, City National's prime lending rate was 3.25 percent, unchanged from both December 31, 2011 and September 30, 2012.
|For the three months ended||For the three|
|December 31,||%||months ended||%|
|Dollars in millions||2012||2011||Change||September 30, 2012||Change|
|Average Loans and Leases,|
|excluding Covered Loans||$ 13,984.2||$ 12,213.4||14||$ 13,587.5||3|
|Average Covered Loans||1,089.9||1,554.2||(30)||1,207.0||(10)|
|Average Total Securities||9,652.7||7,641.5||26||8,631.4||12|
|Average Earning Assets||25,468.0||22,083.9||15||23,892.0||7|
|Average Core Deposits||22,781.3||19,781.8||15||21,208.5||7|
|Net Interest Income||209.1||206.0||1||214.8||(3)|
|Net Interest Margin||3.27%||3.70%||(12)||3.58%||(9)|
Loans and other real estate owned (OREO) assets acquired in City National's FDIC‑assisted bank acquisitions totaled $1.0 billion at the end of the fourth quarter of 2012, compared to $1.5 billion at December 31, 2011 and $1.2 billion at September 30, 2012.
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