Bofl Holding (BOFI) Tops Q4 EPS by 16c

Bofl Holding (NASDAQ: BOFI) reported Q4 EPS of $1.54, $0.16 better than the analyst estimate of $1.38. Revenue for the quarter came in at $55.29 million versus the consensus estimate of $53.67 million.

"We achieved our fourteenth consecutive quarter of record earnings through strong loan originations, fee income growth, and disciplined expense management," stated Greg Garrabrants, President and Chief Executive Officer. "Continued growth in our jumbo single family mortgage portfolio, record production from our C&I lending group and strong deposit growth were contributing factors to our increased net interest income this quarter. We further diversified our funding mix, with checking and savings accounts increasing to approximately 82% of our total deposits at June 30, 2015 compared to 74% a year ago. Our net interest margin increased to 3.97% this quarter including the one-time divided received from the FHLB and would have been 3.85% without the one-time dividend, equal to last quarter and within our target range. Lastly, our efficiency ratio improved to 31.65% this quarter, or 32.47% without the one-time dividend, as our cost management program's focus shifted to vendor cost reduction and productivity improvement."

For earnings history and earnings-related data on Bofl Holding (BOFI) click here.

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