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In Brief: W. Holding Reports Steep Profit Decline.(Brief article)

American Banker

| May 05, 2006 | Rieker, Matthias | COPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

W Holding Co. Inc. of Mayaguez, Puerto Rico, reported that its first-quarter profit fell 22.7% from a year earlier, to $35.4 million.

The company, which announced its results late Wednesday, blamed the flat yield curve, rising taxes, and higher expenses associated with an ongoing expansion. However, per-share earnings of 16 cents met the average analyst estimate, according to Thomson Financial.

Revenue at the $16.9 billion-asset company rose 3.4% from a year earlier, to …

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Source: HighBeam Research, In Brief: W. Holding Reports Steep Profit Decline.(Brief article)

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