Imperial Credit Commercial Mortgage Investment Corp.
During the second quarter of 1998 the Company reported the following highlights:
- Return on Assets (ROA) for the quarter ended June 30, 1998 increased to 2.82% from 2.57% for the quarter ended June 30, 1997.
- Net interest income increased 27% to $30.0 million as compared to $23.7 million for the same period last year.
- Investment banking fees from the Company's Imperial Capital Group, LLC subsidiary were $6.4 million.
- Loan servicing fees increased to $4.1 million at June 30, 1998, as compared to $2.2 million for the same period last year.
- Asset management fees increased to $1.6 million at June 30, 1998, compared to $1.2 million for the same period last year.
- Net expenses related to OREO decreased to $288,000 as compared to $3.5 million for the same period last year.
- Total assets, loans and deposits increased to $2.4 billion, $1.8 billion and $1.5 billion, compared to $2.1 billion, $1.4 billion and $1.2 billion at December 31, 1997.
- Shareholders' equity increased to $343.4 million at June 30, 1998 from $323.9 million at December 31, 1997.
- Book value and tangible book value per common share at June 30, 1998 increased to $8.89 and $8.33 per share as compared to $6.82 and $6.11 per share at June 30, 1997.
Looks like a good buying opportunity at 10 7/8.
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