Origen Financial Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Declares Dividend on Common Stock Payable on September 25, 2012
For the six months, the company reported total interest income of $28,695,000, net interest income before loan losses and impairment of $8,883,000, net interest loss after loan losses and impairment of $1,179,000, net income before income taxes of $602,000, net income of $572,000 or $0.02 per common share as compared to total interest income of $32,774,000, net interest income before loan losses and impairment of $11,955,000, net interest loss after loan losses and impairment of $1,277,000, net loss before income taxes of $6,268,000, net loss of $6,297,000 or $0.24 per common share for the same period prior year. The 2012 year to date 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.
The Board of Directors declared a dividend on common stock of $0.12 per share to be paid to holders of Origen's common stock of record on September 17, 2012. The dividend will be paid on September 25, 2012 and will approximate $3.1 million.