CALABASAS, Calif. - (04/27/05) -- Digital Insight Corp. said Tuesdaynet income for its first quarter soared 38% to $5.7 million, or 16cents a share, driven by a strong 18% rise in Internet bankingrevenue. Total revenues rose 13% for the first quarter, to $51.7million, compared to the same period last year. Business bankingrevenues climbed 8%, while lending revenues slumped 20%, due mainlyto client attrition. The company remained in a strong cashposition, with no debt and announced another $25 million stockrepurchase plan. DI completed a previous $25 million stockrepurchase in the fourth quarter last year, buying back 1.3 millionshares at an average price of $16.64 each.
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Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
October 17 -
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
October 17 -
Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
October 17