Mission Bancorp Reports Record Annual Earnings of $30.5 Million, Annual Loan Growth of 13.2% and Annual Deposit Growth of 7.3%
While many of our peers faced shrinking net interest margins, deposits, and profits, Mission experienced an expanding margin, deposit growth, and record annual earnings.
- While many of our peers faced shrinking net interest margins, deposits, and profits, Mission experienced an expanding margin, deposit growth, and record annual earnings.
- Between higher deposit rates and increased competition, driving deposit growth has not been easy but our team rose to the challenge.
- Loan interest income and fee accretion from the fourth quarter of 2022 to the current quarter increased by $3.7 million.
- The decrease in the Company's cash position over the past quarter is primarily due to loan growth, which outpaced deposit growth for the quarter.