- New loans grew by $1.1 billion during the second quarter of 2013. For the six months ended June 30, 2013, new loans increased by $1.4 billion to $5.1 billion, an annualized growth rate of 79%.
- Deposits increased to $9.0 billion at June 30, 2013, with interest and non-interest bearing demand deposits totaling $2.2 billion, or 24% of total deposits.
- The net interest margin, calculated on a tax-equivalent basis, was 6.14% for the quarter ended June 30, 2013.
- We opened two additional banking centers in Manhattan during the second quarter of 2013, which was the first full quarter of operations for our New York franchise, bringing the total number of banking centers to four. One new branch opened in Florida during the quarter ended June 30, 2013.
- The cost of deposits continued to trend downward to 0.64% for the second quarter of 2013 from 0.70% for the immediately preceding quarter.
- Book value and tangible book value per common share were $18.43 and $17.74, respectively, at June 30, 2013.
|Tier 1 leverage||13.7%|
|Tier 1 risk-based capital||27.9%|
|Total risk-based capital||28.9%|