Cash America International Inc., a pawn shop operator and payday lender, said its first-quarter earnings will be higher than previously expected due to better revenue growth and lower-than-expected loan losses. Fort Worth-based Cash America (NYSE: CSH) said earnings for the quarter ended March 31 will likely reach 80 cents to 82 cents a share, rather than its previous forecast of 70 cents to 75 credit information Oklahoma cents a share. The company earned 63 cents a share in the year-ago quarter. Analysts surveyed by Thomson Financial estimated earnings of 72 cents a share. The company plans to release its first-quarter results on April 24. Cash America has 942 locations in the United States and also offers short-term cash advances over the Internet in 32 states and in the United Kingdom. CapitalSource, a lender and investment manager based in Chevy Chase, credit information Oklahoma Md., in May agreed to buy TierOne Corp. The company, which manages credit information Oklahoma $20.9 billion in investments, wanted credit information Oklahoma to buy the Nebraska-based bank for its deposits. Each side claimed responsibility for squashing the agreement. Regardless of who killed the deal, Friedman Billings Ramsey analyst Scott Valentin said it is good news for CapitalSource. Any benefit the company would have enjoyed from the bank's $2.4 billion in deposits would have been more than outpaced by the deteriorating credit quality of the bank's loan credit information Oklahoma portfolio, he said. free credit history Of TierOne's $3.34 billion loan portfolio, more than $1 billion are real estate loans, mainly loans to builders and credit information Oklahoma developers.
These loans have suffered a devastating decay in quality because of credit information Oklahoma flagging property values.
The bank squirreled away $68 million to cover bad credit information Oklahoma loans last year, a fivefold increase from 2006 and 2005 combined.
CapitalSource's stock jumped $1.15, or 11.2 percent, to close at $11.38 Monday. EmployeeScreen University
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