A Basic Overview Of Vital Criteria For Business Funding

Cost of interest-bearing deposit balances was flat compared to the linked quarter and 2 basis points less than the fourth quarter of 2015. Note: The comparison of the income statement and average balance sheet results between the full year of 2015 and the full year of 2016 was affected by the NB&T Financial Group, Inc. ("NB&T") acquisition, which closed March 6, 2015. Net Interest Income: Net interest income for the fourth quarter of 2016 was $26.7 million, up 2% compared to the linked quarter and 3% higher than the fourth quarter of 2015, while the net interest margin for these periods was 3.54%, 3.54% and 3.56%, respectively. The increase compared to the prior periods in net interest income was due primarily to the growth in average loan balances and the related interest income. For the full year 2016, net interest income was $104.9 million, up 7% compared to 2015, while the net interest margin for those periods was 3.54% and 3.53%, respectively. The loan growth and NB&T acquisition were the drivers of the increase in net interest income. The accretion income, net of amortization expense, from acquisitions was $0.9 million for the fourth quarter of 2016, compared to $0.8 million in the third quarter of 2016 and $1.2 million for the fourth quarter of 2015, which added 11 basis points, 10 basis points and 16 basis points, respectively, to net interest margin. For the full year of 2016, accretion income, net of amortization expense, from acquisitions was $3.5 million, compared to $4.8 million in 2015, or 11 basis points and 17 basis points, respectively. Net interest margin, excluding the net accretion income, described above, declined 1 basis point compared to the linked quarter, and improved 3 basis points compared to the fourth quarter of 2015. For the full year of 2016, net interest margin, excluding net accretion income, improved 7 basis points compared to 2015. The changes in net interest margin were the result of the sustained shift in the mix of the balance sheet, for both assets and liabilities, coupled with the restructuring of certain borrowings during the second quarter of 2016. Provision for Loan Losses: For the fourth quarter of 2016, provision for loan losses was $0.7 million, compared to $1.1 million for the third quarter of 2016 and $7.2 million for the fourth quarter of 2015. Recent loan growth was the main driver of the provision for loan losses recorded during the fourth quarter and the full year of 2016. Provision for loan losses was $3.5 million for the full year of 2016, compared to $14.1 million for 2015. The provision recorded in the fourth quarter of 2015, and most of the amount recorded for the full year of 2015, was the result of a charge-off associated with one large commercial loan relationship.

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