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BofI reports record income

La Jolla’s BofI Holding (Nasdaq: BOFI), parent of Bank of Internet, on Wednesday reported record net income of $13.2 million in the last quarter, or 91 cents per share, a penny ahead of Wall Street’s consensus estimate.

The quarterly net income was nearly 35 percent ahead of the $9.8 million generated during the same period of 2012.

Greg Garrabrants, the company's president and CEO, attributed the increase to "the strength and diversity of our deposit, lending and fee income businesses."

Total assets for the Web-based bank rose 24 percent during the year to $3.6 billion. Loans rose 29 percent to $622 million. And the bank’s Tier 1 capital -- a measure of bank safety -- rose from a relatively strong 8.5 percent on Dec. 31, 2012, to 9 percent at the end of last year.

By noon on Wall Street, BofI stock was up more than 2 percent to $77.74 per share.

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