Selected highlights for the third quarter of 2012 include:
- Announced the planned acquisition of Alliance Financial Corporation, a $1.4 billion financial holding company headquartered in Syracuse, N.Y., expected to close in early 2013.
- Year to date organic loan growth of 8.3% (annualized) driven by:
- Commercial loan growth of 12.3% (annualized)
- Consumer loan growth of 12.0% (annualized)
- Net interest margin was 3.90% for the third quarter of 2012, up 8 basis points on a linked quarter basis.
- Annualized net charge-off ratio was 0.47% as compared to 0.55% for the same period last year.