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Laurentian Bank Reports "Solid" First Quarter Results; Shares Up Slightly Mid-Morning

Laurentian Bank of Canada (LB.TO) reported net income of $34.1 million or $1.12 diluted per share for the first quarter ended January 31, 2013, compared with $31.0 million or $1.16 diluted per share for the first quarter of 2012. Return on common shareholders' equity was 10.3% for the first quarter of 2013, compared with 11.5% for the same period in 2012. Net income was up 23% to $40.4 million or $1.34 diluted per share for the first quarter of 2013, compared to $32.9 million or $1.24 diluted per share for the same period in 2012; and adjusted return on common shareholders' equity was 12.2%.

Shares are up 5 cents to $44.98 mid-morning, after hitting a high of $45.25 in earlier trade. Close to 29,000 shares have been traded so far.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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