The increase of $101m in net income mainly reflected the impact of a lower credit-related other-than-temporary impairment (OTTI) charge on certain of the bank’s private-label residential mortgage-backed securities (PLRMBS), among other factors.
For the quarter period ended on 30 September, its net interest income stood at $219m, with a decrease of 18% from $268m, during the same period earlier year.
Other income/(loss) for the third quarter of 2012 was a loss of $34m, compared to a loss of $197m during the corresponding period a year ago.
As of 30 September 2012, the lender was in compliance with all of its regulatory capital requirements, with capital ratio of 12.12%, exceeding the 4.00% requirement.
Apart from funding community investment programs for affordable housing, the mortgage lender offers home loans to people of all income levels and provides credit that supports neighborhoods and communities.
