Source Capital Posts 19% Jump In Income

Source Capital Corp. Monday announced a 19 percent increase in first-quarter net income compared with year-earlier figures.

The Spokane-based commercial lender earned $163,675, or 12 cents per share, up from $137,562, or 10 cents per share.

Loans receivable on March 31 jumped 123 percent to $25.5 million, while loan losses were nil. Loans delinquent 60 days or more fell substantially, as did the amount of real estate owned.

Total assets reached $30.6 million, compared with $19.9 million a year ago. , DataTimes