BofI Holding Q1 Profit Meets Estimate

(RTTNews) - BofI Holding Inc. (BOFI) reported that its first-quarter net income attributable to common stockholders was $12.1 million, or $0.85 per share, compared with $8.9 million, or $0.67 per share in the comparable quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.85 per share for the quarter. Analysts' estimates typically exclude special items.

Loan loss provision for the quarter was $0.5 million, compared to $2.6 million last year. The decrease was the result of significantly lower charge-offs which decreased by approximately $1.9 million this quarter compared to the first quarter of fiscal 2013.

Core earnings, which exclude the after-tax impact of gains and losses associated with securities portfolio, increased 31.4% to $12.0 million from $9.2 million in the year ago quarter.

Net interest income for the latest first quarter increased to $28.1 million from $22.5 million in the year ago quarter, while non-interest income was $7.0 million, up from $6.8 million last year.