Washington Mutual Savings Bank reported second-quarter net income of 45.6 million on Wednesday, up 72% from the same period a year ago and significantly above analysts' estimates

The sharp rise in profits at the Seattle-based thrift followed the acquisition of hometown rival Pacific First Bank during the quarter. Washington Mutual. the Northwest's largest thrift at $14.4 billion of assets, said its results included a sharp rise in the operating earnings of its nonbanking subsidiaries.

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