Q4 net interest margin increased by six basis points to 1.98% from 1.92% in the previous quarter. CEO Michael E. McFarland stated, “Returns on interest-earning assets continue to show improvement while the cost of deposits have peaked and short-term instruments should continue to decline. We continue to focus on loan growth and expense reductions. As our assets continue to reprice higher and our liabilities, including both deposits and wholesale funding, reprice lower, conditions have become more favorable. While this market environment has been extraordinarily challenging we continue to be optimistic.”
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