- New loans grew by $361.3 million during the third quarter of 2012. For the nine months ended September 30, 2012, new loans increased by $1.5 billion to $3.3 billion, an annualized growth rate of 121%. For both the third quarter and the first nine months of 2012, new loan growth outpaced the resolution of covered loans.
- Deposits increased to $8.5 billion with demand deposits totaling $1.7 billion, or 20.5% of total deposits. For the nine months ended September 30, 2012, total demand deposits grew by $507.8 million, an annualized growth rate of 55%.
- The cost of deposits continues to trend downward. The cost of deposits was 0.78% for the third quarter of 2012, as compared to 0.84% for the second quarter of 2012 and 1.07% for the third quarter of 2011.
- Book value and tangible book value per common share grew to $17.98 and $17.24, respectively, at September 30, 2012.
- We continue to expand our branch network, opening 2 new branches during the third quarter, with 3 additional branch openings planned for the fourth quarter.
|Tier 1 leverage||12.9%|
|Tier 1 risk-based capital||34.3%|
|Total risk-based capital||35.6%|