Compared with preceding third quarter 2012, the weighted average cost of FHLB advances decreased 25 basis points, and 47 basis points on a core basis, excluding acquisition accounting adjustments. During fourth quarter 2012, the Company added $100.0 million in new FHLB borrowings at a weighted average rate of 0.64%, and the weighted average original maturity of these new borrowings was 2.59 years. In addition, a total of $140.0 million of FHLB borrowings, with a weighted average rate of 1.09%, matured during fourth quarter 2012.

Non-interest Income. Total non-interest income for fourth quarter 2012 amounted to $9.9 million, a 48% increase over $6.7 million for fourth quarter 2011, and a 29% increase over $7.7 million for third quarter 2012.

The various non-interest income items are summarized in the following table:
    Three Months Ended
    %     %
(In thousands) 12/31/2012 12/31/2011 change 9/30/2012   change
Service fees on deposit accounts $ 2,916 $ 2,108 38 % $ 3,121 (7 )%
Net gains on sales of SBA loans 2,754 1,017 171 % 100 %
Net gains on sale of other loans 6 63 (90 )% 100 %
Net gains on sales of securities available-for-sale 1,219 (100 )% 133 (100 )%
Net valuation gains (losses) on interest swaps and caps 11 6 83 % 11
Net gains (losses) on sales of OREO (292 ) 58 (603 )% (12 ) 2,333 %
Other income and fees   4,464       2,207   102 %   4,411   1 %
Total non-interest income $ 9,859     $ 6,678   48 % $ 7,664   29 %
 

The 48% increase in non-interest income over fourth quarter 2011 largely reflects a full quarter of operations as a combined Company, compared with one month of operations as a combined Company during fourth quarter 2011.

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