Upgrade to SI Premium - Free Trial

Wilshire Bancorp (WIBC) Misses Q2 EPS by 1c

July 20, 2015 4:13 PM

Wilshire Bancorp (NASDAQ: WIBC) reported Q2 EPS of $0.20, $0.01 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $48.8 million versus the consensus estimate of $50.72 million.

Jae Whan (J.W.) Yoo, President and CEO of Wilshire Bancorp, said, "We continued to generate a high level of profitability by focusing on our core competencies, delivering outstanding service to our customers, and maintaining stable credit quality. Our profitability enabled us to increase our quarterly cash dividend paid on July 15, 2015 by 20% to $0.06 per share while still maintaining sufficient capital to support organic and external growth strategies.

"We are making good progress in integrating and ramping-up our expanded residential mortgage lending group, which generated $90 million in loan production during the second quarter. We had a solid quarter of loan production across our other major lending areas and continue to maintain a healthy pipeline of quality lending opportunities," said Mr. Yoo.

For earnings history and earnings-related data on Wilshire Bancorp (WIBC) click here.

Categories

Earnings Management Comments

Next Articles