DRL Bk PR earns $9.6 mln before taxes 2-Aug-08 01:56 pm The 2Q08 call report is out.
Doral bank returned to profitability as earnings before taxes increased $14.3 mln to $9.6 mln as follows: Net interest income $42.7 mln (up $10.2 mln from 1Q08) Loss provisions $10 mln (up $5.9 mln from 1Q08) Noninterest income $21.5 mln (up $8.6 mln from 1Q08) Noninterest expense $44.7 mln (down $1.0 mln from 1Q08) Income before taxes of $9.6 mln (up $14.3 mln form 1Q08)
Asset quality was stable: Nonaccrual loans were unchanged with a reduction in construction nonaccruals being offset by an increase in residential mortgage nonaccruals. Net chargeoffs were slightly higher than in 1q07 increasing $2.3 mln to $9.6 mln.
Capital ratios about the same: leverage 6.11%, tier 1 12.3%, Total 13.5%.
Mortgage origination increased to $428 mln from $312 mln in 1Q07.