BofI Holding Inc. (Nasdaq: BOFI), parent company of BofI Federal Bank, Wednesday reported a record net income of $9.8 million for the second fiscal quarter ended Dec. 31, 2012, an increase of 46.7 percent from the quarter ended Dec. 31, 2011.
Earnings attributable to BofI's common stockholders were $9.4 million or 70 cents per diluted share for the second quarter of fiscal 2012, an increase of 29.6 percent from the second quarter ended Dec. 31, 2011.
Core earnings, which exclude the after-tax impact of gains and losses associated with the company's securities portfolio, increased 47.6 percent to $10.1 million for the quarter ended Dec. 31, 2012, compared to $6.8 million for the quarter ended Dec. 31, 2011.
For the six months ended Dec. 31, 2012, net income was a record $18.8 million, an increase of 42.2 percent over net income for the six months ended Dec. 31, 2011. Earnings attributable to BofI's common stockholders were $18.3 million or $1.37 per diluted share for the six months ended Dec. 31, 2012, an increase of 44.6 percent from the six months ended Dec. 31, 2011.
Record earnings for the quarter and for the six months ended Dec. 31, 2012 were primarily the result of growth in both the bank's loan portfolio and its fee income businesses.
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