Non-interest income ended up being $639 thousand for the 4th quarter of 2019, a small enhance of $7 thousand, or 1.1%, set alongside the 4th quarter of 2018, and a loss of $272 thousand, or 29.9%, when compared to 3rd quarter of 2019. The decrease when compared to 3rd quarter of 2019 had been brought on by greater loan referral charge earnings throughout the quarter that is third.
Non-interest cost increased by $1.36 million, or 11.8%, within the 4th quarter of 2019 set alongside the exact same duration a year ago. The year-over-year increase ended up being as a result of greater salaries and worker advantages cost, linked to a rise in staff required to help our continued growth, merger and purchase expenses, occupancy expense, and appropriate charges for view list loans. Roughly $340 thousand of this escalation in salaries and employee advantages cost, compared to the 4th quarter of 2018, had been from the addition of a group of commercial loan providers and support staff who joined up with the lender throughout the second quarter of 2019. When compared to 3rd quarter of 2019, non-interest cost increased $744 thousand, or 6.1%, driven by a rise in salaries and employee advantages cost, mainly pertaining to incentive settlement related to record manufacturing into the last half of the season, and advertising cost.
Through the 4th quarter of 2019, our effectiveness ratio risen up to 51.44% in comparison to 50.61% in identical period a year ago. The rise ended up being mainly as a result of the upsurge in salaries and advantages cost and merger and purchase expenses, and flat non-interest earnings, partially offset because of the FDIC bank premium credit that is small. Set alongside the connected quarter, our effectiveness ratio risen to 51.44per cent from 48.84per cent, driven by a rise in salaries and employee advantages expense, a decrease in non-interest income also comparatively low web interest earnings growth.