CASH 2017 Annual Report

78 Average Balances, Interest Rates and Yields The following table presents, for the periods indicated, the total dollar amount of interest income from average interest- earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates. Only the yield/rate have tax equivalent adjustments. Non-Accruing loans have been included in the table as loans carrying a zero yield. Year Ended September 30, 2017 2016 2015 (Dollars in Thousands) Average Outstanding Balance Interest Earned / Paid Yield / Rate Average Outstanding Balance Interest Earned / Paid Yield / Rate Average Outstanding Balance Interest Earned / Paid Yield / Rate Interest-earning assets: Specialty Finance Loans* $ 317,293 $ 16,903 5.33% $ 135,334 $ 7,276 5.38% $ 74,537 $ 6,037 8.10% Tax Advance Loans 49,026 11 0.02% 3,804 — —% — — —% Retail Bank Loans 820,980 35,203 4.29% 671,308 28,911 4.31% 543,329 23,528 4.33% Mortgage-backed securities 747,027 16,571 2.22% 728,738 15,771 2.16% 695,539 13,979 2.01% Tax-Exempt Investment Securities 1,303,830 31,930 3.77% 1,061,198 24,965 3.56% 704,529 15,730 3.38% Asset-Backed Securities 115,716 2,999 2.59% 54,993 1,199 2.18% — — —% Other investments and fed funds sold 115,958 3,104 2.68% 101,258 2,537 2.51% 72,954 1,742 2.39% Cash & Fed Funds Sold 150,338 1,382 0.92% 66,759 737 1.54% 127,901 591 0.51% Total interest-earning assets 3,620,168 $ 108,103 3.46% 2,823,392 $ 81,396 3.34% 2,218,789 $ 61,607 3.14% Non-interest-earning assets 362,133 193,286 103,138 Total assets $ 3,982,301 $ 3,016,678 $ 2,321,927 Non-interest bearing deposits $ 2,286,358 $ — —% $ 2,017,977 $ — 0.00% $ 1,632,130 $ — —% Interest-bearing liabilities: Interest-bearing checking 42,231 172 0.41% 36,317 97 0.27% 35,610 88 0.25% Savings 55,484 31 0.06% 59,670 24 0.04% 34,129 40 0.12% Money markets 46,466 87 0.19% 46,115 75 0.16% 39,401 61 0.15% Time deposits 103,115 830 0.80% 79,825 418 0.52% 85,843 537 0.63% Wholesale deposits 558,855 4,931 0.88% — — —% — — —% FHLB advances 52,956 1,045 1.97% 61,454 709 1.15% 7,000 495 7.07% Overnight fed funds purchased 259,378 2,649 1.02% 339,035 1,607 0.47% 234,025 691 0.30% Subordinated debentures 73,273 4,448 6.07% 9,437 539 5.71% — — —% Other borrowings 15,939 680 4.27% 14,575 622 4.27% 21,193 475 2.05% Total interest-bearing liabilities 1,207,697 14,873 1.23% 646,428 4,091 0.63% 457,201 2,387 0.56% Total deposits and interest-bearing liabilities 3,494,055 $ 14,873 0.43% 2,664,405 $ 4,091 0.15% 2,089,331 $ 2,387 0.11% Other non-interest bearing liabilities 87,084 44,786 28,009 Total liabilities 3,581,139 2,709,191 2,117,340 Stockholders' equity 401,162 307,487 204,587 Total liabilities and stockholders' equity $ 3,982,301 $ 3,016,678 $ 2,321,927 Net interest income and net interest rate spread including non-interest bearing deposits $ 93,230 3.04% $ 77,305 3.18% $ 59,220 3.03% Net interest margin, tax equivalent 3.05% 3.19% 3.03% *Specialty Finance Loan Receivables include loan portfolios the Company deems as non-retail bank product offerings or loans not generated by the Retail Bank itself (for example, premium finance and purchased loan portfolios). The loan receivables included in this line item are included in the customary loan categories presented elsewhere in this report.