Total deposits increased $14.1 million or 5.1% to $288.9 million at December 31, 2012, from $274.8 million at September 30, 2012. Transaction accounts (noninterest and interest-bearing checking accounts) increased to $58.5 million as of December 31, 2012 from $56.3 million at September 30, 2012 and $39.9 million at December 31, 2011. Management continues to focus deposit growth efforts on relationship deposits with new and existing customers.
|($ in thousands)|
|December 31, 2012||September 30, 2012||December 31, 2011|
|Interest-bearing checking||$ 24,349||8.4%||$ 24,914||9.1%||$ 20,669||8.4%|
|Certificates of deposits less than $100,000||40,119||13.9||39,835||14.5||36,220||14.7|
|Certificates of deposits $100,000 to less than $250,000||43,810||15.2||33,283||12.1||36,912||15.0|
|Certificates of deposits $250,000 and over||20,449||7.1||24,569||9.0||22,774||9.2|
|Total||$ 288,949||100.0%||$ 274,824||100.0%||$ 246,418||100.0%|
Total equity increased $525,000 to $59.9 million at December 31, 2012 from $59.4 million at September 30, 2012. The increase in equity from the third quarter was predominantly a result of net income of $1.1 million and the scheduled payment of the Employee Stock Ownership Plan loan partially offset by a decline in the unrealized gain on securities available-for-sale included in accumulated other comprehensive income. Book value per common share was $19.92 as of December 31, 2012.
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