“Our recent acquisitions continue steadily to deliver balance that is outstanding growth and offer possibilities for further expansion of our bottom-line. Total loans increased 3.4% throughout the quarter and 26.3% year-over-year, reflecting both acquired loans and strong loan production that is organic. Also, agricultural and farmland loans are up substantially when compared with last year, caused by our current purchase of Big Muddy Bancorp, Inc., ” said Johnson. Total loans had been $779.2 million at December 31, 2019, in comparison to $616.9 million per year earlier and $753.6 million 90 days early in the day.
Eagle originated $164.9 million in brand brand new domestic mortgages throughout the quarter, excluding construction loans, and sold $151.0 million in domestic mortgages, with the average gross margin for sale of home mortgages of around 3.46%. This manufacturing comes even close to mortgage that is residential of $161.8 million when you look at the preceding quarter with sales of $155.4 million. For the complete 12 months, Eagle originated $524.6 million in brand new domestic mortgages, excluding construction loans, and offered $480.0 million in domestic mortgages, with a typical gross margin for sale of home mortgages of around 3.47%.
Commercial estate that is real increased 28.9% to $331.1 million at December 31, 2019, in comparison to $256.8 million per year previously. Domestic home mortgages increased 2.0% to $119.3 million, in comparison to $116.9 million an earlier year. Agricultural and farmland loans increased 90.7% to $90.8 million at December 31, 2019, when compared with $47.6 million a year early in the day. Commercial loans increased 23.3% to $72.8 million, house equity loans increased 8.2% to $56.4 million, commercial construction and development loans increased 26.2% to $52.7 million, domestic construction loans increased 42.1% to $38.6 million, and customer loans increased 14.0% to $18.9 million, when compared with a 12 months ago. (more…)