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IndyMac Bancorp Profit Rises 20%

August 02, 2003|E. Scott Reckard

Internet mortgage specialist IndyMac Bancorp Inc. reported 20% higher second-quarter profit, with home loan originations up 73%.

The Pasadena company earned $41.4 million, or 73 cents a share, during the quarter ended June 30, compared with $34.6 million, or 56 cents, in the same period a year earlier. Revenue increased 25% to $173.4 million.

IndyMac said it would increase its quarterly dividend 50% to 15 cents a share.

IndyMac shares fell $1.60 to $22.74 on the NYSE.

E. Scott Reckard

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