OneWest (fka IndyMac) Turns Q2 Profit
NEW YORK (Reuters) - Failed mortgage lender IndyMac Bancorp, now known as OneWest Bank, turned a profit in its first full quarter under new hedge fund and private-equitiy ownership, according to reports filed with U.S. bank regulators. For the second quarter ended June 30, Pasadena, California-based OneWest posted profit of $182 million. OneWest generated $245.6 million of net interest income, offset by a $9 million provision against future losses. The thrift also said nearly a third of the bank's mortgages were behind on their payments, though the value of repossessed homes on its books rose to $137 million from $18 million.
21 August 2009•2 mins read
