The chart above indicates our year-over-year growth in total assets is impressive at nearly 23%. Loans and deposits have grown 32% and 28% respectively. Net income is 22% ahead of the pace of last year. These are impressive growth rates. However, the pace of growth will likely slow in the future. This is due to a projected slowdown in real estate lending in the coming months as some homebuilders and developers reassess their plans going into 2008. Meanwhile, with interest rates having dropped again recently, our net interest margin will be under continued pressure.
Many thanks to the Shoreline Bank Board, staff, shareholders and
customers for your ongoing support.
