Business News • MarketWire • BofI Holding, Inc. Announces Third Quarter Net Income of $5.3 Million |
BofI Holding, Inc. Announces Third Quarter Net Income of $5.3 Million |
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BofI Holding, Inc. Announces Third Quarter Net Income of $5.3 Million
SAN DIEGO, CA--(Marketwire - May 5, 2011) - BofI Holding, Inc. (NASDAQ: BOFI) ("BofI"),
parent of Bank of Internet USA (the "Bank"), today announced financial
results for the third quarter of its 2011 fiscal year which ended March 31,
2011. BofI net income was $5,275,000 for the three months ended March 31,
2011 compared to $7,175,000 earned for the three months ended March 31,
2010. Excluding the after-tax impact of gains and losses related to
investment securities, net income for the quarter ended March 31, 2011
would have been $4,453,000, up $105,000, or 2.4% compared to adjusted net
income of $4,348,000 for the quarter ended March 31, 2010. The increase in
earnings after excluding investment securities activities was primarily the
result of increased net interest income. The average balance of
interest-earning assets for the quarter ended March 31, 2011 increased
$324.3 million to $1,648.4 million compared to the average balance for the
third quarter last year of $1,324.1 million. Leading the growth of Bank
assets was the loan portfolio average balance which increased $374.6
million this quarter compared to the average balance for the quarter ended
March 31, 2010. Earnings attributable to BofI's common stockholders were
$5,198,000 or $0.48 per diluted share for the current quarter, compared to
$7,002,000 or $0.77 per diluted share for the quarter ended March 31, 2010.
View More : http://www.marketwire.com/mw/release.do?id=1510742&sourceType=3
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