The following table sets forth the Company's average volume and rate of its interest-earning assets and interest-bearing liabilities for the periods indicated.
|For the Six Months Ended|
|June 30, 2013||June 30, 2012|
|(dollars in thousands)||Average Balance||Average Yield/Rate||Average Balance||Average Yield/Rate|
|Short term investments||$ 71,805||0.21%||$ 59,373||0.24%|
|Total interest-earning assets||$ 2,593,495||4.48||$ 2,122,895||4.84|
|Savings||$ 47,456||0.63||$ 40,560||0.56|
|Money market deposits||375,985||1.51||394,723||1.63|
|Certificates of deposit under $100,000||428,502||1.56||452,615||1.63|
|Certificates of deposit of $100,000 or more||609,717||1.88||485,624||1.77|
|Total interest-bearing deposits||$ 2,133,736||1.61||$ 1,756,575||1.62|
|Fed funds purchased and repurchase agreements||64,829||1.45||31,628||1.50|
|Total interest-bearing liabilities||$ 2,285,289||1.65||$ 1,844,230||1.64|
|Net interest spread||2.83%||3.20%|
|Net interest margin||3.03%||3.42%|
Noninterest income, excluding securities gains, for the six months period ended June 30, 2013 totaled $5.2 million, an increase of $0.2 million, or 3.6%, compared to the six month period ended June 30, 2012. The increase in noninterest income for the six month period ended June 30, 2013 compared to the six month period ended June 30, 2012 resulted primarily from an increase of $1.1 million in management fees from First NBC Community Development Fund, LLC related to the Fund's New Market Tax Credit investments.