Non-covered delinquent loans, comprised of loans 30 days or more past due and nonaccrual loans, as a percentage of total non-covered loans measured 2.57% at December 31, 2012, compared to 2.63% for the same period of the prior year. Non-covered nonaccrual loans decreased to $23.93 million at December 31, 2012, compared with $24.49 million at December 31, 2011. At quarter end, the Company's non-covered nonperforming loans as a percentage of total non-covered loans were 1.89% and non-covered nonperforming assets as a percentage of total non-covered assets were 1.37%, down from 1.43% for the same period of the prior year. Nonperforming assets included $4.73 million in unseasoned, accruing troubled debt restructurings and $9.00 million in other real estate owned, of which $3.26 million was covered under the loss share agreement, at December 31, 2012.

Balance Sheet and Capital

Consolidated assets totaled $2.73 billion as of December 31, 2012, an increase of $566.31 million, or 26.16%, compared with $2.16 billion at December 31, 2011. Consolidated liabilities totaled $2.37 billion as of December 31, 2012, an increase of $515.56 million, or 27.73%, compared with $1.86 billion at December 31, 2011. Total stockholders' equity increased to $356.47 million as of December 31, 2012, compared with $305.73 million at December 31, 2011. Book value per as-converted common share increased to $16.80 for the quarter ended December 31, 2012, compared with $15.96 for the quarter ended December 31, 2011. Tangible book value per common share increased $0.19 to $11.59 compared with the fourth quarter of 2011. During the fourth quarter of 2012, the Company paid a cash dividend of $0.11 per common share.

The Company significantly exceeds regulatory "well capitalized" targets as of December 31, 2012, with a total risk-based capital ratio of 16.6%, Tier 1 risk-based capital ratio of 15.4%, and a Tier 1 leverage ratio of 9.9%.

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