WSFS » Topics » Net interest income

This excerpt taken from the WSFS 8-K filed Feb 5, 2009.

Net interest income

 

Net interest income for the fourth quarter of 2008 was $22.6 million, and improved by $1.9 million, or 9% in comparison to the fourth quarter of 2007. The net interest margin increased 8 basis points (0.08%) from the 2.99% reported in the fourth quarter of 2007, despite the $1.0 million charge related to reverse mortgages. Excluding this charge, the fourth quarter 2008 margin would have been 3.20%.

 

Net interest income for the fourth quarter of 2008 was $22.6 million and the net interest margin was 3.07%. This represented a decrease of $731,000 and 21 basis points (0.21%) from the third quarter of 2008. This decrease was mainly due to the previously mentioned charge related to reverse mortgages.

 

This excerpt taken from the WSFS 8-K filed Oct 24, 2008.

Net interest income

 

Net interest income for the third quarter of 2008 was $23.3 million and the net interest margin was 3.28%, displaying strong growth of $940,000 and 8 basis points (0.08%) from the second quarter of 2008. These increases reflect the continued positive impact of deposit pricing management efforts, combined with a recovery from the temporary negative impact of Federal Reserve rate reductions made early in the year. Similarly, additional recent Federal Reserve rate reductions and deposit pricing competition will put pressure on the net interest margin in the near term.

 

Net interest income for the third quarter of 2008 improved by $3.2 million, or 16% in comparison to the third quarter of 2007. Accordingly, the net interest margin increased a strong 24 basis points (0.24%) from 3.04% reported in the third quarter of 2007.

 

EXCERPTS ON THIS PAGE:

8-K
Feb 5, 2009
8-K
Oct 24, 2008
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