IndyMac Bancorp Profit Rises 20%
Internet mortgage specialist IndyMac Bancorp Inc. reported 20% higher second-quarter profit, with home loan originations up 73%.
The Pasadena company earned $41.4 million, or 73 cents a share, during the quarter ended June 30, compared with $34.6 million, or 56 cents, in the same period a year earlier. Revenue increased 25% to $173.4 million.
IndyMac said it would increase its quarterly dividend 50% to 15 cents a share.
IndyMac shares fell $1.60 to $22.74 on the NYSE.
E. Scott Reckard
