In Briefs: Kansas Home Lender In Black, But Just Barely

Advanced Financial Inc., a residential mortgage banking company, eked out a profit of $27,966, or less than 1 cent a share, in the quarter ended Sept. 30.

It lost $736,926, or 21 cents a per share, in last year's third quarter.

In the six months through Sept. 30 the company had a net loss of $534,165, or 15 cents a share. It had lost $1.4 million, or 40 cents a share, in the year-earlier period.

Bill Moffatt, president and chief executive officer of Advanced Financial, said that the company, as previously announced, is acquiring the assets and operations of another mortgage company. The acquisition target, whose identity has not been disclosed, would add approximately $15 million to $20 million a month in additional loan production, he said.

"This acquisition is part of our strategic plan and a key first step in achieving continued profitability," Mr. Moffatt said.

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