CWB reports solid second quarter financial results and sound credit quality

Edmonton, June 4, 2015 – Canadian Western Bank (TSX: CWB) (CWB) today announced solid second quarter financial performance driven by strong year-over-year loan growth and ongoing sound credit quality.

Compared to the same quarter last year, common shareholders’ net income from Combined Operations of $53.5 million was up 5%. Diluted earnings per common share of $0.67 increased 6% and adjusted cash earnings per common share of $0.68 was up 5%. Total revenues (teb) of $159.9 million were up 4%, primarily reflecting the positive impact of strong 11% loan growth, partially offset by slightly lower net interest margin and decreased non-interest income. 

Common shareholders’ net income was relatively consistent with last quarter, as the combined positive impacts of 2% loan growth and higher non-interest income were offset by three fewer revenue earning days and a small decrease in net interest margin. Diluted earnings per share was unchanged sequentially and adjusted cash earnings per common share was down 1%. 

Year-to-date common shareholders’ net income of $107.8 million increased 4%, as the positive impacts of strong loan growth and lower preferred share dividends were partially offset by higher non-interest expenses, lower non-interest income and a slight decrease in net interest margin. Year-to-date diluted earnings per common share of $1.34 increased 4% and adjusted cash earnings per share of $1.36 was up 4%. 

 
Read the release in full

For Further Information Contact: 

Matt Evans, CFA 
Assistant Vice President, Investor Relations 
Canadian Western Bank 
Phone: (780) 969-8337 
E-mail: [email protected]