Thursday, The Student Loan Corp. (STU) said its third-quarter net income surged significantly to $54.81 million or $2.74 per share from $5.44 million or $0.27 per share in the year earlier period, reflecting the positive impact of improved market conditions on its retained interests in its off-balance sheet securitizations, gains on loan sales, lower provision for loan losses and reduced operating expenses..
Net interest income for the recent quarter declined 11% to $74.11 million from $83.52 million in the 2008 period. Total other income climbed significantly to $86.25 million from $17.12 million in the comparable period.
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