NET INTEREST INCOME Sample Clauses

NET INTEREST INCOME. Net interest income is the primary source of income for the Company. Net interest income is the difference between interest income earned on earning assets and interest expense paid on interest-bearing liabilities. As such, net interest income is affected by changes in the volume and yields on earning assets and the volume and rates paid on interest-bearing liabilities. Interest-earning assets consist of loans, deposits in financial institutions, deposits in the FHLB, federal funds sold and investment securities. Interest-bearing liabilities primarily consist of deposits, federal funds purchased and FHLB advances. The net interest margin is the difference between tax equivalent net interest income and average earning assets. Total interest income, on a tax equivalent basis, increased $6.9 million (7.6%) to $97.3 million for the year ended December 31, 1997 from $90.4 million for the year ended December 31, 1996. This increase resulted from an increase of $7.8 million due to growth in average interest-earning balances, which was partially offset by ($.9) million due to declining yields. The Company's average interest-earning assets grew $115.9 million (10.7%) to $1,195.4 million at December 31, 1997 from $1,079.5 million at December 31, 1996. Yields on the Company's loan portfolio declined primarily from the Company reducing its rates on its home equity lines from prime plus one to prime. This reduction in rates was a result of competitive conditions surrounding this product. Yields on total interest-earning assets decreased during 1997. This decrease was offset by improvements in the federal funds sold and investment securities portfolios. Specifically, the Company's average federal funds rate increased to 5.5% for 1997 from 5.3% for 1996. Additionally, interest on the securities portfolio increased primarily due to higher yields on U.S. government agencies and corporations along with higher average outstanding balances. Total interest expense increased $6.3 million (16.5%) to $44.7 million for the year ended December 31, 1997 from $38.4 million for the year ended December 31, 1996. This increase was due to growth in average balances. Average interest-bearing liabilities increased $105.9 million (11.4%) to $1,038.6 million for the year ended December 31, 1997 from $932.7 million for the year ended December 31, 1996 primarily due to deposit promotions. The following table reflects the impact of changes in volume and interest rates on interest-earning assets...
Sample 1
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NET INTEREST INCOME. Net interest income is the primary source of income for the Company. Net interest income is the difference between interest income earned on earning assets and interest expense paid on interest-bearing liabilities. As such, net interest income is affected by changes in the volume and yields on earning assets and the volume and rates paid on interest-bearing liabilities. Interest-earning assets consist of loans, deposits in financial institutions, deposits in the FHLB, federal funds sold and investment securities. Interest-bearing liabilities primarily consist of deposits, federal funds purchased and FHLB advances. The net interest margin is the difference between tax equivalent net interest income and average earning assets. Total interest income, on a tax equivalent basis, decreased $3.7 million (3.8%) to $93.6 million for the year ended December 31, 1998 from $97.3 million for the same period ended December 31, 1997. This decrease resulted from a decrease of $2.6 million due to declining yields and $1.1 million due to declines in average interest-earning balances primarily associated with the loan portfolio. The Company's average interest-earning assets declined $.9 million to $1,194.5 million at December 31, 1998 from $1,195.4 million at December 31, 1997. Yields on total average interest-earning assets decreased primarily due to higher average levels of investment securities (which generally have lower yields when compared to loans). Yields on the Company's loan portfolio declined primarily due to a higher level of refinancing with the real estate portfolio. Additionally, interest -------------------------------------------------------------------------------- 27 -------------------------------------------------------------------------------- on the loan portfolio declined as the positive impact of indirect auto loans was offset by declining average balances for all other major components. Interest on the Company's securities portfolio also declined as higher average balances outstanding were invested in lower yielding securities resulting from a declining interest rate environment. Total interest expense decreased $2.6 million (5.9%) to $42.1 million for the year ended December 31, 1998 from $44.7 million for the year ended December 31, 1997. This decrease was primarily due to declines in average balances. Average interest-bearing liabilities decreased $11.3 million (1.1%) to $1,027.3 million for the year ended December 31, 1998 compared to $1,038.6 m...
Sample 1
NET INTEREST INCOME. Net interest income is the primary source of income for the Company. Net interest income is the difference between interest income earned on earning assets and interest expense paid on interest-bearing liabilities. As such, net interest income is affected by changes in the volume and yields on earning assets and the volume and rates paid on interest-bearing liabilities. Interest-earning assets consist of loans, deposits in financial institutions, deposits in the FHLB, federal funds sold and investment securities. Interest-bearing liabilities primarily consist of deposits, federal funds purchased and FHLB advances. Net interest margin is the difference between tax equivalent net interest income and average earning assets. Total interest income, on a tax equivalent basis, increased $5.5 million (6.6%) to $90.0 million for the year ended December 31, 1996 from $84.5 million for year ended December 31, 1995. This increase resulted from an increase of $6.9 million due to growth in average balances which was offset by a ($1.4) million decrease due to declining interest rates. The Company's average interest-earning assets grew $85.9 million (8.6%) to $1,079.5 million at December 31, 1996 from $993.6 million at December 31, 1995. Yields on total interest-earning assets decreased primarily due to decreases in average interest rates on the Company's commercial loan portfolio and federal funds sold portfolio. Specifically, the Company's average prime rate decreased to 8.3% for 1996 from 8.8% for 1995. The average federal funds rate decreased to 5.3% for 1996 from 5.7% for 1995. Average rates on the securities portfolio remained level as the Company sought to minimize credit risk to the portfolio while achieving an acceptable rate of return. Total interest expense increased $1.0 million (2.5%) to $38.4 million for the year ended December 31, 1996 from $37.4 million for the year ended December 31, 1995. Of this increase, $3.3 million was due to growth in average balances while ($2.3) million was due to declining interest rates. Average interest-bearing liabilities increased $70.4 million (8.2%) to $932.7 million for the year ended December 31, 1996 from $862.3 million for the year ended December 31, 1995 primarily due to deposit promotions. The following table reflects the impact of changes in volume and interest rates on interest-earning assets and interest-bearing liabilities for each of the two years ended December 31, 1996 and 1995 (dollars in thousands): December ...
Sample 1
NET INTEREST INCOME. Net interest income represents the difference between the interest income, including certain fees, earned on our interest-earning assets and the interest expense on our interest-bearing liabilities. Interest-earning assets include loans, investment securities and other interest-earning assets, while our interest- bearing liabilities include interest-bearing deposits, securitized debt obligations,
Sample 1

Related to NET INTEREST INCOME

  • Interest Income Prior to the Company’s consummation of a Business Combination or the Company’s liquidation, interest earned on the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company and up to $100,000 for liquidation expenses, all as more fully described in the Prospectus (as defined below).

  • Net Income After giving effect to the special allocations set forth in Section 6.1(d), Net Income for each taxable year and all items of income, gain, loss and deduction taken into account in computing Net Income for such taxable year shall be allocated as follows:

  • Interest Charges You agree to pay interest at the rate(s) disclosed to you at the time you open your account and as may be changed from time to time in accordance with applicable law. Average Daily Balance including new transactions: Interest Charges will accrue on your average daily balance outstanding during the month. To get the average daily balance, we take the beginning balance each day, add any new purchases, cash advances, balance transfers or other advances, and subtract any payments, unpaid interest charges, and unpaid late charges. This gives us the daily balance. Then, we add up all the daily balances for the billing cycle and divide that by the number of days in the billing cycle. We then multiply that by the periodic rate corresponding to the Annual Percentage Rate on your account. If you have different rates for purchases, cash advances or balance transfers, separate average daily balances for each will be calculated and the appropriate periodic rate is then applied to each.

  • Consolidated Net Income The consolidated net income of the Borrowers after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP.

  • Interest Expense For any period with respect to Parent Company and its Subsidiaries, without duplication, (a) interest (whether accrued or paid) actually payable (without duplication), excluding non-cash interest expense but including capitalized interest not funded under an interest reserve pursuant to a specific debt obligation, together with the interest portion of payments on Capitalized Leases, plus (b) Parent Company’s and its Subsidiaries’ Equity Percentage of Interest Expense of their Unconsolidated Affiliates for such period.

  • Minimum Interest Charge If the interest charge for all balances on your Credit Card account is less than $1.00, we will charge you the Minimum Interest Charge shown on page 1. This charge is in lieu of any interest charge.

  • Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00.

  • Net Income and Net Loss All net income or net loss of the Company shall be for the account of the Member.

  • Interest Bearing Call or Time Deposits The Bank shall, upon receipt of Proper Instructions relating to the purchase by the Fund of interest-bearing fixed-term and call deposits, transfer cash, by wire or otherwise, in such amounts and to such bank or banks as shall be indicated in such Proper Instructions. The Bank shall include in its records with respect to the assets of the Fund appropriate notation as to the amount of each such deposit, the banking institution with which such deposit is made (the "Deposit Bank"), and shall retain such forms of advice or receipt evidencing the deposit, if any, as may be forwarded to the Bank by the Deposit Bank. Such deposits shall be deemed Portfolio Securities of the Fund and the responsibility of the Bank therefore shall be the same as and no greater than the Bank's responsibility in respect of other Portfolio Securities of the Fund.

  • Interest Due Without limiting any other rights or remedies available to either Party, each Party shall pay the other interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [*] per annum or the maximum applicable legal rate, if less, calculated on the total number of days payment is delinquent.

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