Origen Financial Inc. Declares Dividend on Common Stock, Payable on September 16, 2013; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2013
The company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported total interest income was $12,248,000 against $14,194,000 a year ago. Net interest income after loan losses and impairment was $1,711,000 against net interest loss after loan losses and impairment of $228,000 a year ago. Net income before income taxes was $181,000 against net loss before income taxes of $2,769,000 a year ago. Net income was $173,000 or $0.01 per common share against net loss of $2,781,000 or $0.11 per common share a year ago.
For the six months, the company reported total interest income was $24,788,000 against $28,695,000 a year ago. Net interest income after loan losses and impairment was $2,359,000 against net interest loss after loan losses and impairment of $668,000 a year ago. Net loss before income taxes was $1,665,000 against net income before income taxes of $1,113,000 a year ago. Net loss was $1,680,000 or $0.06 per common share against net income of $1,083,000 or $0.04 per common share a year ago. The 2012 results include a first quarter gain of approximately $6.2 million relating to the termination of certain of Origen's interest rate swap transactions with Citibank, N.A.