Other operating income decreased $356,000 or 44% during the quarter ended December 31, 2012 compared with the third quarter of 2012 and decreased $15,000 or 3% compared with the fourth quarter of 2011. The decrease in the fourth quarter of 2012 compared to the third quarter of 2012 was largely related to the net gain on sales of other real estate which totaled approximately $301,000 during the third quarter of 2012 compared with a net loss on sales and write-downs of other real estate of $10,000 during the fourth quarter of 2012.
Net gains on sales of loans totaled $904,000 during the quarter ended December 31, 2012, a decrease of $37,000, or 4%, compared to the third quarter of 2012 and an increase of $174,000, or 24%, compared with the fourth quarter of 2011. Loan sales totaled $58.6 million during the fourth quarter of 2012, compared with $37.8 million during the third quarter of 2012 and $55.9 million during the fourth quarter of 2011.
During the fourth quarter of 2012, the Company realized a net gain on the sale of securities of $975,000 related to the sale of approximately $44.8 million of securities, compared to $598,000 related to the sale of approximately $40.4 million of securities in the third quarter of 2012 and $1,979,000 related to the sale of $59.3 million in the fourth quarter of 2011.
During the quarter ended December 31, 2012, non-interest expense totaled $13,179,000, an increase of $451,000, or 4%, compared with the quarter ended September 30, 2012, and an increase of $543,000, or 4%, compared with the fourth quarter of 2011.
|Non-interest Expense||Quarter Ended 12/31/12||Quarter Ended 09/30/12||Quarter Ended 12/31/11|
|(dollars in thousands)|
|Salaries and Employee Benefits||$ 7,677||$ 7,261||$ 7,182|
|Occupancy, Furniture and Equipment Expense||1,791||1,716||1,739|
|Data Processing Fees||325||311||271|
|Advertising and Promotion||506||439||525|
|Other Operating Expenses||1,759||1,740||1,750|
|Total Non-interest Expense||$ 13,179||$ 12,728||$ 12,636|
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