B of I Holding, a bank holding company, has reported that its net income was $651,000, or $0.07 per diluted share, a decrease of $156,000 for the second quarter ended December 31, 2007, compared to net income of $807,000, or $0.09 per diluted share for the second quarter of 2006.
For the six-month period ended December 31, 2007, net income was $1.39 million, or $0.15 per diluted share, compared to $1.55 million, or $0.17 per diluted share for the six-month period of 2006.
Greg Garrabrants, CEO, said: After three months on the job, I am very encouraged by B of I’s opportunities to improve its operating results. Widening credit spreads and limited liquidity in the whole loan and mortgage-backed securities markets have significantly increased our ability to add high credit quality assets at attractive yields.