Pacific & Western Credit Corp. is reporting improved profit for the second quarter.

Net earnings, total assets, total revenue and other income all increased compared to the same period a year ago, much to the delight of president and CEO David Taylor.

\u201cWe continue to be challenged in meeting our aggressive lending targets. Total lending assets for the quarter were $679 million versus our target of $719 million, a shortfall of 6%,\u201d says Taylor of Pacific & Western’s disappointment. \u201cThis slight shortfall in placing loans and its resulting reduction in net interest income, however, was more than offset by significant fees and a dilution gain earned from our structured financing activities totaling $1 million.\u201d

Although lending assets were not up to expectations, there was an increase of more than 14% from a year ago. While net earnings are down from the last quarter, they too are up to $1.6 million, or $0.12 per share, compared to $1.5 million, or $0.11 per share, during the same period a year ago. Pacific & Western’s year-to-date net earnings of $3.5 million, or $0.26 per share, have increased from $2.5 million, or $0.18 per share, for the same period a year ago.
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Structured financing boosts earnings<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2312,2318],"tags":[2483],"yst_prominent_words":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/281942"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=281942"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/281942\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=281942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=281942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=281942"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=281942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}