Net Interest IncomeNet interest income was $10.5 million, or 4.04% of average interest earning assets ("net interest margin"), for the third quarter of 2013 compared with $10.6 million, or a 4.36% net interest margin, for the same period a year earlier. For the first nine months of 2013, net interest income was $30.8 million, or a 4.07% net interest margin, compared with $31.7 million, or a 4.49% net interest margin for the same period a year ago. The decline in net interest income is largely the result of the decline in yields on our loan and investment portfolios due to the historically low interest rate environment resulting from the slowdown in the economy, despite strong year-over-year growth in the Company's loan portfolio.
Heritage Oaks Bancorp Reports Third Quarter 2013 Results
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