IndyMac Touts Record Earnings

IndyMac Bancorp Inc., Pasadena, Calif., the holding company for IndyMac Bank, has reported record net earnings of $171.3 million ($3.01 per share) for 2003, up 19% from earnings in 2002.Mortgage loan production totaled a record $30 billion, up 44% from the volume recorded the year before, IndyMac said. For the fourth quarter, the company reported earnings of $43.3 million ($0.75 per share), up 22% from the earnings recorded a year earlier. Mortgage loan production totaled $6.3 billion. "In line with our expectations, in this quarter alone we increased our share of the single-family residential mortgage market by 44% and grew our earning assets 13% with strong adjustable-rate, single-family mortgage production," said Michael W. Perry, IndyMac's chairman and chief executive officer. IndyMac declared a quarterly cash dividend of $0.25 per share, up from $0.20 per share in the previous quarter. The company can be found online at http://www.indymacbank.com.