Irwin: Home Equities Up, Mortgages Down

Irwin Financial Corp., Columbus, Ind., has reported net income of $35.7 million ($1.67 per share)in 2000, up from $33.2 million ($1.51 per share) in 1999. Net income at its homeequity subsidiary, Irwin Home Equity Corp., totaled $18.5 million, up from $12.6 million in 1999. However, netincome for the company's mortgage banking subsidiary, Irwin Mortgage Corp., fell to $13.0 million in 2000, down44% from $23.1 million in 1999, the company reported. Mortgage loan originations totaled $4.1 billion for the year,down 30% from $5.9 billion in 1999. Irwin Mortgage's website address is http://www.irwinmortgage.com, and Irwin Home Equity's is http://www.ihe.com.

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