IMH - Result as predicted: $-2.05 for the second three months.
Hefty loan losses...
Second Quarter 2007 vs. First Quarter 2007 Net Earnings
For the Three Months Ended ,
June 30, March 31, Increase %
2007 2007 (Decrease) Change
Interest income $ 337,010 $ 342,821 $ (5,811 ) (2 )%
Interest expense 324,027 329,366 (5,339 ) (2 )
Net interest income 12,983 13,455 (472 ) (4 )
Provision for loan losses 162,981 29,374 133,607 455
Net interest expense after provision for
loan losses (149,998 ) (15,919 ) (134,079 ) (842 )
Total non-interest income 36,516 (70,562 ) 107,078 152
Total non-interest expense 35,845 33,321 2,524 8
Income tax expense 3,220 1,866 1,354 73
Net loss $ (152,547 ) $ (121,668 ) $ (30,879 ) (25 )%
Net loss per share - diluted $ (2.05 ) $ (1.65 ) $ (0.40 ) (24 )%
Dividends declared per common share $ - $ 0.10 $ (0.10 ) (100 )%
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