CZWI » Topics » Interest Income

These excerpts taken from the CZWI 10-K filed Dec 23, 2008.
Interest Income.  Total interest income increased by $4.0 million, or 26.1%, to $19.3 million for the year ended September 30, 2007, from $15.3 million for the year ended September 30, 2006.  The primary reason for the increase in interest income was the $48.1 million increase in the average outstanding balance of loans receivable from $237.6 million for the year ended September 30, 2006, to $285.7 million for the year ended September 30, 2007.  The increase was the result of loan originations exceeding repayments due to strong loan demand.  The yield in average loans receivable increased to 6.90% from 6.59%, reflecting higher yielding new loans replacing payoffs on loans with lower interest rates.  In addition, interest and dividend income increased as a result of an increase in investments.  These increases resulted in a fiscal year-to-date increase in interest income of $306,000, or 86.7% as interest income at September 30, 2007 was $659,000 compared to $353,000 for fiscal 2006.
 
Interest
Income
.  Total interest income increased by $4.0 million, or
26.1%, to $19.3 million for the year ended September 30, 2007, from $15.3
million for the year ended September 30, 2006.  The primary reason for
the increase in interest income was the $48.1 million increase in the average
outstanding balance of loans receivable from $237.6 million for the year ended
September 30, 2006, to $285.7 million for the year ended September 30,
2007.  The increase was the result of loan originations exceeding
repayments due to strong loan demand.  The yield in average loans
receivable increased to 6.90% from 6.59%, reflecting higher yielding new loans
replacing payoffs on loans with lower interest rates.  In addition,
interest and dividend income increased as a result of an increase in
investments.  These increases resulted in a fiscal year-to-date
increase in interest income of $306,000, or 86.7% as interest income at
September 30, 2007 was $659,000 compared to $353,000 for fiscal
2006.

 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Dec 23, 2008

RELATED TOPICS for CZWI:

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