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Article: Healthy ITLA withstands a drop in revenue; Bob Sporrer, First National have mutual parting of ways.(FINANCE)(ITLA Capital Corp.)
- Article from:
- San Diego Business Journal
- Article date:
- May 30, 2005
- Author:
CopyrightCOPYRIGHT 2005 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ITLA Capital Corp., a San Diego financial holding company, often sails below the radar because it doesn't have much of a local presence and isn't a consumer oriented bank. But if you're a shareholder, you're very happy with its performance.
In the last 52 weeks, shares have gained nearly 27 percent and have traded in the high $50s. As of May 23, it closed just below $52, and some analysts have estimated it'll reach the mid-$60 range by the end of the year.
All this seems well and good, yet ITLA's most recent financial results give reason to take a second look. As of March 31, the company reported net income of $5.7 million, but that was down from $13.8 ...