Bank Owned Life Insurance accounted for most of .02 earnings
"Income from bank-owned life insurance increased $1.8 million to $2.2 million and $3.0 million for the three and nine month periods ended September 30, 2013, respectively, compared to $399 thousand and $1.3 million for the comparative periods in 2012, largely due to a $1.8 million life insurance benefit recognized during the third quarter of 2013."
Yes, this is true. They essentially broke even again. The real opportunity that I see is that HMPR has pretty much satisfied their Letter Agreement terms, and without those restrictions they will be able to operate like any other bank again. I want to be holding this when that announcement comes out.