Net interest margin increased to 3.37% for the quarter ended March 31, 2025, compared to 3.21% for the fourth quarter of 2024. Cost of funds decreased to 2.48% for the quarter ended March 31, 2025, compared to 2.66% for the fourth quarter of 2024, as a result of a decrease in interest paid on interest-bearing deposit accounts, driven by the Bank lowering rates in response to the Federal Reserve interest rate cuts in the third and fourth quarters of 2024. The yield on loans decreased to 6.05% for the quarter ended March 31, 2025, compared to 6.10% for the fourth quarter of 2024. Net interest margin increased to 3.37% for the quarter ended March 31, 2025, compared to 2.97% for the first quarter of 2024, representing a 40 bp increase compared to the same period in 2024.
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