Total interest expense increased $185 thousand, or 3.75%, to $5.12 million for the fourth quarter of 2012 compared with the fourth quarter of 2011. Deposit costs decreased $33 thousand, or 1.25%, to $2.60 million for the fourth quarter of 2012 compared with the fourth quarter of 2011, which was primarily due to an 18 basis point decrease in the average rate paid on interest-bearing deposits. Borrowing costs increased $218 thousand, or 9.49%, to $2.52 million for the fourth quarter of 2012 compared with the fourth quarter of 2011. The average rate paid on interest-bearing liabilities decreased 20 basis points to 1.01% for the fourth quarter of 2012 compared with the fourth quarter of 2011. The average balance of interest-bearing liabilities increased $399.15 million, or 24.71%, to $2.01 billion for the fourth quarter of 2012 compared with the fourth quarter of 2011, which included a $379.81 million increase in average interest-bearing deposits and a $19.34 million increase in average total borrowings. The increases were primarily the result of the Peoples and Waccamaw acquisitions that occurred during the second quarter of 2012.Provision for Loan Losses
First Community Bancshares, Inc. Announces Fourth Quarter And Full Year 2012 Results And Quarterly Cash Dividend To Common Stockholders
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