WaMu Reports Record 2Q Earnings

Washington Mutual Inc., Seattle, has reported record second-quarter earnings of $261.3 million ($0.69 per share), up 37% from $191.1 million ($0.50 per share) a year ago.Net interest income totaled $726.5 million for the quarter, up 11% from $653.4 million a year ago. Originations of single-family residential loans (excluding residential construction) totaled $8.6 billion, up from $6.1 billion a year ago, the company said. WaMu's board of directors declared a cash dividend on common stock of $0.2067 per share, up from $0.20 per share in the previous quarter. Final approval from the Office of Thrift Supervision for WaMu's merger with H.F. Ahmanson & Co. is still pending. Special meetings of both companies' shareholders are scheduled for Aug. 28 to consider proposals regarding the merger.