ECN Capital Corp. reported its financial results for the three-month period ending June 30. The company posted adjusted net income applicable to common shareholders of $13.4 million compared with $8 million for the same period last year.

Originations for the three-month period ending June 30, were $505.2 million versus $32.4 million for the same period last year.

Total earning assets managed and advised as at June 30, 2018 were $28.1 billion, versus $3.2 billion as at March 31, 2018.

EBITDA, net of provision for credit losses, for the three-month period ending June 30, 2018 was $36.6 million versus $40.5 million for the same period last year.

Net Income for the three-month period ending June 30, 2018 was $2.6 million versus $11.8 million for the same period last year.

“This quarter begins to demonstrate the earnings power of ECN as a business services provider to U.S. banks and credit unions”, said Steven Hudson, CEO of ECN Capital Corp. “Service Finance and Triad both had exceptional quarters and we are thrilled to have closed on our strategic investment in the Kessler Group.”

The full announcement can be viewed here.