Deposits totaled $1.50 billion at December 31, 2012 and increased $178 million from $1.33 billion at December 31, 2011, reflecting a $33 million, or 16%, increase in non-interest bearing deposits and a $145 million, or 13%, increase in interest bearing deposits. The increase in interest bearing deposits included the purchase of $61 million of brokered time deposits reflecting the Company's philosophy to opportunistically diversify funding sources at a lowest cost. The weighted average cost of brokered deposits was 0.80% at December 31, 2012, with balances representing 4.1% of total deposits.Federal Home Loan Bank of Boston advances increased $77 million year-to-date to $143.1 million at December 31, 2012. Advances were employed across the maturity curve with the majority of the increase consisting of short term advances with terms of one year or less and a weighted average cost of 0.33%.
Rockville Financial, Inc. Announces Record Annual Earnings
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