Average investment securities increased due to purchases made in both the third and fourth quarters. The corporation realized net losses on securities sales 537,000 in the fourth quarter compared to net losses of 134,000 in the third quarter. Yields on earning assets decreased 15 basis points, while the cost of interest bearing liabilities decreased 13 basis points and our non-interest bearing funding declined. We do believe the contributions from this program will moderate from the current level. read more
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