Capital Source reported a Second quarter reported net income of $29 million compared to a $40 million net income in 2012, same period.
"Net Income was $30 million, a decline of $5 million from the prior quarter, due to increased provision for loan loss related primarily to loan growth and non-interest expenses returning to a more normalized level.
Loans and Leases increased $404 million or 6.8%, including $58 million of loans purchased from the Parent.
New funded loan and lease production was $710 million, excluding the Parent loan purchase, compared to $575 million in the prior quarter.
Total loans and leases were $6.4 billion at quarter end, an increase of 20% from one year ago.
PacWest reported second quarter income of $4.3 million, a decrease of $9.2 million from net earnings for the first quarter of 2013 of $13.5 million; net income for second quarter of 2012 was $15.6 million.
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CapitalSource Second Quarter Results Press Release
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