AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Home Equity Strong Despite Rise in Overdues at Irwin.
COLUMBUS, IN -- Irwin Financial Corp. saw improved fourth-quarter results for its home-equity segment from the previous quarter, although a slight deterioration in consumer mortgage credit quality.
The home-equity segment earned $1.2 million during 4Q06, compared to a loss of $300,000 during 3Q06. Net income for the year totaled $1.5 million, compared to $2.3 million in 2005.
Mortgage loan originations totaled $254 million, unchanged from the third quarter. Production continues to increase in the broker and correspondent channels, helping to offset declines in direct to consumer and other channels, which have been de-emphasized due to margin compression.
Irwin listed net income from continuing operations for the fourth quarter of 2006 of $10.6 million, or $0.35 per diluted share. This compares with diluted earnings per share from continuing operations of $0.30 per share and $0.32 per share, in the third quarter of 2006 and the fourth quarter of 2005, respectively.
For the year, net income from continuing operations totaled $37 million, or $1.25 per share, a $1.2 million dollar increase but a 1% year-over-year decline on a per-share basis. Return-on-average equity for continuing operations was 8.1% and 7.1% for the quarter and the year, respectively. The commercial finance and commercial banking segments both had record annual net income in 2006, offsetting a modest decline in the home-equity segment and significant increases in parent and other ...
- HEICO fiscal 1996 earnings and sales soar; net income from continuing...
- Press release article from: Business Wire January 8, 1997 700+ words
...1996. Fiscal 1996 net income from continuing operations totaled $3,665...from last year's net income from continuing operations of $1,437...subsidiary. Net income from continuing operations for the fourth...
- Vesta Reports Third Quarter Results; Net Income from Continuing Operations of...
- Press release article from: PR Newswire November 12, 2003 700+ words
...the third quarter of 2002. The net income from continuing operations was $6.4 million, or $0...of net operating earnings from continuing operations to net income from continuing operations is included herein.) For the...
- Company Reports Record 3rd Qtr Results Income from Continuing Operations...
- Press release article from: PR Newswire February 1, 2001 700+ words
...Company reported net income from continuing operations of $234,437...Company reported net income from continuing operations of $1,232...Company reported net income from continuing operations of $437,145...
- American Independence Corp. Announces 11% Sequential Increase in Net Income...
- Press release article from: Business Wire July 28, 2003 700+ words
...net income and net income from continuing operations of $2.1 million...share, diluted). Net income from continuing operations amounted to $4...company, and our net income from continuing operations increased sequentially...
- Beverly Enterprises Net Income from Continuing Operations Up 30% for the Fourth...
- Press release article from: Business Wire March 15, 2005 700+ words
...announced that net income from continuing operations totaled $14...full year, 2004 net income from continuing operations totaled $42...the full year, net income from continuing operations totaled nearly...
- The PMI Group, Inc. Reports First Quarter 2005 Net Income of $101.2 Million;...
- Press release article from: Business Wire May 5, 2005 700+ words
...that consolidated net income from continuing operations totaled $101...improvement in net income from continuing operations in the first quarter...Net income from continuing operations after assumed conversion...
- Gibraltar Reports Improved Second-Quarter Sales and Earnings; Sales of $288...
- Press release article from: Business Wire August 3, 2005 700+ words
...half of 2004. Net income from continuing operations in the second quarter...half of 2005, net income from continuing operations was $26.5 million...388 $ 249,092 Net Income from Continuing Operations $ 15,915 $ 15...
- CARAUSTAR INDUSTRIES, INC. REPORTS SECOND QUARTER RESULTS; REVENUE UP BY 11.5...
- Press release article from: PR Newswire July 23, 1993 700+ words
...quarter of 1992. Net income from continuing operations rose by 24.8...second quarter 1992 net income from continuing operations of $5.7 million...period a year ago. Net income from continuing operations for the first half...