UCBH: UCBH Holdings Inc. Message Board

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Non-Tech : UCBH: UCBH Holdings Inc.

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From: JakeStraw	4/22/2005 8:09:51 AM
	of 16

UCBH Holdings Profit Rises 10 Percent biz.yahoo.com Associated Press Thursday April 21, 6:49 pm ET UCBH First-Quarter Earnings Grow 10 Percent As Net Interest Income Increases 12 Percent SAN FRANCISCO (AP) -- Banking company UCBH Holdings Inc. said Thursday that its first-quarter earnings rose 10 percent, not quite keeping pace with net interest income growth of 12 percent. The holding company for California's United Commercial Bank earned $21.8 million, or 23 cents per share, up from $19.8 million, or 21 cents per share, a year ago. Analysts polled by Thomson Financial were looking for latest-quarter profit of 25 cents per share. Net interest income grew 12 percent to $55.4 million from $49.5 million. Non-interest income increased 17 percent to $8 million. This growth was partly offset by higher expenses -- personnel costs grew 14 percent to $14.7 million and costs for professional fees and contracted services rose 65 percent to $2.5 million. The company's total noninterest expense rose 19 percent to $27.2 million. Loans increased 26 percent to $66.6 million and the company said it increased its loan pipeline by about 63 percent from its 2004 level to $2.19 billion. UCBH also reduced its loan loss provision.

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