BofI Holding Q4 Profit Rises; Tops View

(RTTNews) - BofI Holding Inc. (BOFI) reported that its fourth-quarter earnings attributable to common stockholders were $11.1 million or $0.78 per share, compared with $8.2 million or $0.64 per share in the comparable quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.

Loan loss provision for the quarter was $1.50 million, compared to $2.10 million last year. The decrease was the result of charge-offs decreasing by approximately $624,000 over the same quarter in prior fiscal year offset by growth in loan portfolio.

Core earnings, which exclude the after-tax impact of gains and losses associated with securities portfolio, increased 36.6% to $12.0 million from $8.8 million in the year ago quarter.

Net interest income for the quarter increased to $28.0 million from $21.6 million in the year ago quarter, while non-interest income was $7.9 million, up from $5.0 million last year.