NET INTEREST MARGINThe Company's net interest margin ratio was 3.56% during second quarter 2013. The Company recorded net recoveries of charged-off interest of $142 thousand during second quarter 2013, $620 thousand during first quarter 2013 and $766 thousand during second quarter 2012. Exclusive of net recoveries of charged-off interest, the Company's net interest margin ratio was 3.55% during second quarter 2013, as compared to 3.51% during first quarter 2013 and 3.70% during second quarter 2012. Declines in yields earned on the Company's loan and investment portfolios during second quarter 2013 were offset by increases in average outstanding loans, reductions in the cost of interest bearing liabilities and lower average outstanding interest bearing deposits in banks. Also offsetting the impact of lower asset yields during the three and six months ended June 30, 2013, as compared to the same periods in 2012, was the December 2012 contractual repricing of $46 million of junior subordinated debentures from a weighted average fixed interest rate of 7.07% to variable rates averaging 2.60% over LIBOR.
First Interstate BancSystem, Inc. Reports Increased Earnings Of 77% And Improved Credit Metrics
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