Organic Loan and Deposit Growth Continues; Enhanced by Commercial and Mortgage Banking ExpansionGrowth in all major categories of the balance sheet are reflective of the significant human capital and infrastructure investment the Company made in 2012. Expansion of the commercial lending division led to a $130 million, or 9%, increase in net loans for the year. The commercial division also meaningfully contributed to the 13% deposit growth during the year through demand deposit and municipal deposit acquisition. Expansion of the mortgage banking division resulted in a 113% increase in fourth quarter originations over the prior year and a 328% increase in purchase mortgages. The $90 million, or 60%, increase in the available for sale securities portfolio was attainable as a direct result of the expertise added in the Treasury department. Through these expansion efforts, total assets increased $248 million, or 14%, to $2.0 billion at December 31, 2012 from December 31, 2011.
Rockville Financial, Inc. Announces Record Annual Earnings
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.