Pacific First Financial Corp said it expects to report a sharp increase in first quarter earnings as compared to the 4.1 mln dlrs or 54 cts per share reported a year earlier. The company also said earnings for the quarter should exceed the record 7.9 mln dlrs or 1.05 dlrs per share reported in last years final quarter. The gains will be due to strong net interest income and profits on the sale of certain mortgage loans and mortgage backed securities Pacific First said. The company expects to report first quarter results the week of April 13.
PACIFIC FIRST <PFFS> SEES HIGHER 1ST QTR NET