Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener. On April 23, 2009, Sterling Bancshares ( SBIB) reported a 52.4% decline in its Q1 FY09 earnings, hurt by higher provisions for credit losses and non-interest expenses. Net income available to common shareholders plunged to $5.52 million, or $0.08 per share, from $11.61 million, or $0.16 per share, in the prior-year quarter. The quarterly earnings missed the consensus estimate of $0.10 per share. Total interest income dropped 11.5% to $62.46 million from $70.57 million a year ago, due to a decrease in interest income from loans, including fees. Interest income from loans, including fees, fell 15.9% to $53.00 million. Total interest-earnings assets increased 10.5% to $4.60 billion, while yield on earnings assets dipped 131 basis points to 5.55%. Total interest expense decreased 38.2% to $13.95 million, as the average rate paid on interest-bearing liabilities lowered 127 basis points to 1.74%. As a result, net interest income before provisions for loan losses inched up 1.1% to $48.51 million from $48.00 million. Tax equivalent net interest margin deteriorated to 4.32% from 4.67% a year ago. Finally, non-interest income decreased marginally to $10.80 million from $10.72 million, as higher customer service fees was offset by lower wealth management fees. Moreover, consolidated efficiency ratio worsened to 66.12% from 62.34% in the year-ago quarter. SBIB provided $9.00 million for credit losses compared to $4.15 million provided a year earlier. Net charge-offs decreased to $2.03 million, or 0.22% of average total loans, from $2.92 million, or 0.34%, in the last year quarter. Non-performing loans as a percentage of period-end loans soared to 2.75% from 0.62%. Furthermore, SBIB continued to be well-capitalized, by having total capital to risk-weighted assets ratio of 15.37%, and Tier-1 capital to risk-weighted assets ratio at 12.49% as of March 31, 2009.