WaMu Reports Record 1Q Earnings

Washington Mutual Inc., Seattle, has reported record earnings of $1.0 million ($1.07 per share) for the first quarter, up from $956 million ($0.99 per share) a year earlier.Originations of single-family residential loans totaled $97.47 billion for the quarter, up from $58.97 billion a year earlier. Home equity loans and lines of credit and multifamily loans totaled $38.72 billion as of March 31, up $6.73 billion, or 21%, from a year earlier, WaMu reported. The company said it is on schedule to open approximately 250 financial center stores and 70 home loan stores this year. WaMu can be found online at http://www.wamu.com.

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