Third-quarter net interest income included $22.2 million from FDIC-covered loans that were repaid or charged off during the quarter. This compares with $18.3 million in the third quarter of 2011 and $27.4 million in the second quarter of this year.

At September 30, 2012, City National's prime lending rate was 3.25 percent, unchanged from both September 30, 2011 and June 30, 2012.
  For the three months ended   For the three  
  September 30, % months ended %
Dollars in millions 2012 2011 Change June 30, 2012 Change
           
Average Loans and Leases, excluding Covered Loans  $ 13,587.5  $ 11,796.6 15  $ 13,125.9 4
Average Covered Loans  1,207.0  1,664.3 (27)  1,341.0 (10)
Average Total Securities   8,631.4  6,954.1 24  7,755.3 11
Average Earning Assets  23,892.0  21,316.6 12  22,769.1 5
Average Deposits  21,940.8  19,724.6 11  20,948.2 5
Average Core Deposits  21,208.5  18,923.6 12  20,215.2 5
Fully Taxable-Equivalent Net Interest Income  214.8  203.6 6  221.4 (3)
Net Interest Margin  3.58 %   3.79 %  (6)  3.91 %  (8)

COVERED ASSETS

Loans and other real estate owned (OREO) assets acquired in City National's FDIC‑assisted bank acquisitions totaled $1.2 billion at the end of the third quarter of 2012 compared to $1.7 billion at September 30, 2011 and $1.3 billion at June 30, 2012.

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