Corporate Strategy and Financial Performance
Net Interest Margin
Components (1)
4.57%
4.41%
4.5%
3.99%
3.63%
3.66%
3.5%
3.74%
3.68%
3.46%
3.34%
3.28%
2.5%
1.5%
1.18%
0.86%
0.91%
0.51%
0.30%
0.5%
0.70%
0.42%
0.49%
0.24%
0.12%
-0.5%
2018
2019
2020
2021
2Q22
11
-Yield on Earning Assets
Cost of Interest-bearing Liabilities
-Net Interest Margin
-Cost of Deposits
Disciplined loan and deposit pricing has produced a strong margin that is in line with our peers.
Margin expansion in the latter half of 2021 and into first six months of 2022 primarily due to new
loan volume and existing loans pricing at higher rates and reduced cost of interest-bearing
liabilities
■ Net interest income was aided by increasing loan yields, lower cost of funds on interest-bearing
deposits and the reduced interest expense related to the prepayment of FHLB long-term
borrowings
Our team approach to full client relationships, our focus on community-oriented business owners
and our high-tech branch network provide continued access to low-cost deposits, treasury
management and commercial loans
(1) See Appendix for a reconciliation of these non-GAAP financial measures
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