New Haven-based NewAlliance Bancshares said Tuesday that its second quarter earnings-bolstered by record revenues-jumped 61 percent, as the bank earned higher income from its investments.
The holding company for NewAlliance Bank said its net income for the quarter ended June 30 was $16.3 million, or 16 cents per diluted share compared, to $10.1 million, or 10 cents per diluted share, in the year ago period.
Peyton R. Patterson, chairman and CEO of the bank, said loan delinquencies also improved and loan originations grew by 37 percent in the quarter.
 “We are pleased to report record revenues this quarter driven by strong balance sheet growth and higher margins,” Patterson said.
NewAlliance reported its best ever quarterly revenue during the April through June period bringing in $73.6 million, a 12.9 percent over the prior year period.
Meanwhile the bank’s net interest income, or the money its earns on interest-bearing assets was $57.7 million, a 15.7 percent increase from the prior year quarter. This is the sixth consecutive quarterly increase in net interest income contributing to the revenue increases, the bank said.
The bank also originated $534.9 million in loans for the quarter, including $165.3 million in commercial loans.
Total non-performing loans were $68.3 million at quarter end, compared to $64.9 million at the end of the linked quarter. The banks also set aside $5.5 million to cover loans that may go bad in the future.
