Noninterest income, excluding securities gains, for the second quarter of 2013 totaled $2.7 million, an increase of $0.2 million, or 9.0%, compared to first quarter of 2013 and an increase of $0.5 million, or 23.8%, compared to the second quarter of 2012. The increase in noninterest income in the second quarter of 2013 compared to the first quarter of 2013 and second quarter of 2012 resulted primarily from increases of $0.6 million and $1.0 million, respectively, in management fees from First NBC Community Development Fund, LLC related to the Fund's New Market Tax Credit investments.
The Company realized $0.3 million and $1.8 million in securities gains during the first quarter of 2013 and second quarter of 2012, respectively. The Company did not realize any securities gains during the second quarter of 2013.
Noninterest expense for the six month period ended June 30, 2013 totaled $30.8 million, an increase of $3.2 million, or 11.6%, compared to the six month period ended June 30, 2012. The increase was due primarily to increases in tax credit amortization of $1.4 million, or 58.0%, and professional fees of $1.1 million, or 56.1%, compared to the same period of 2012.Noninterest expense for the second quarter of 2013 totaled $15.2 million, a decrease of $0.4 million, or 2.9%, compared to first quarter of 2013 and an increase of $1.3 million, or 9.5%, compared to the second quarter of 2012. The decrease in noninterest expense in the second quarter of 2013 compared to the first quarter of 2013 resulted primarily from a decrease in salaries and benefits expense of $0.6 million offset by an increase in tax credit amortization of $0.3 million. The increase in noninterest expense in the second quarter of 2013 compared to second quarter of 2012 was due primarily to increases in professional fees of $0.6 million and tax credit amortization of $0.8 million.
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