Canadian Western Bank reported unaudited earnings results for the third quarter and nine months ended July 31, 2009. For the quarter, the company reported total interest income of CAD 126,502,000, net interest income of CAD 58,745,000, net income before income taxes and non-controlling interest in subsidiary of CAD 39,770,000, net income of CAD 28,729,000, net income available to common shareholders of CAD 24,927,000 or CAD 0.38 diluted per share against total interest income of CAD 138,003,000, net interest income of CAD 55,848,000, net income before income taxes and non-controlling interest in subsidiary of CAD 37,365,000, net income of CAD 26,327,000, net income available to common shareholders of CAD 26,327,000 or CAD 0.41 diluted per share for the same period a year ago. For the nine months, the company reported total interest income of CAD 382,579,000, net interest income of CAD 162,892,000, net income before income taxes and non-controlling interest in subsidiary of CAD 105,701,000, net income of CAD 75,928,000, net income available to common shareholders of CAD 69,668,000 or CAD 1.08 diluted per share against total interest income of CAD 424,900,000, net interest income of CAD 165,864,000, net income before income taxes and non-controlling interest in subsidiary of CAD 112,047,000, net income of CAD 77,534,000, net income available to common shareholders of CAD 77,534,000 or CAD 1.20 diluted per share for the same period a year ago. Book value per common share at July 31, 2009 was CAD 11.87 compared to CAD 11.42 last quarter and CAD 10.47 one year ago. The company provided earnings guidance for the fiscal 2009. The company expects net income growth in the range of 2% to 5%, total revenue growth range of 5% to 8%, return on common equity in the range of 14%-16% and return on assets in the range of 0.90%-1.05%. On September 2, 2009, the company's board of directors declared a cash dividend of CAD 0.11 per common share, payable on October 1, 2009 to shareholders of record on September 17, 2009. This quarterly dividend is unchanged from both the previous quarter and one year ago. The Board of Directors also declared a cash dividend of CAD 0.453125 per Series 3 Preferred Share payable on October 31, 2009 to shareholders of record on October 22, 2009.

Canadian Western Bank (CWB) and Laurentian Bank of Canada reported better-than-expected quarterly profits. The solid balance sheets at the regional banks also bode well for potential acquisitions, CWB Chief Executive Larry Pollack told analysts on a conference call. He added that CWB is eyeing acquisitions from other lenders but would insist on good price and good quality. Laurentian Bank’s Chief Executive, Rejean Robitaille suggested acquisitions could be just months away. "Our strong capital base and higher liquidity levels should allow us to selectively take advantage of opportunities that may arise in the coming months," he told analysts.

Canadian Western Bank (CWB) announced that it is not holding talks with either General Electric Capital Corp. or John Deere Capital Corp. to buy one of their finance programs. Bloomberg had reported that CWB is in talks to acquire the finance programs of General Electric Capital and John Deere Capital. CWB said that it continues to look at opportunities to acquire loan portfolios and/or other complementary businesses; however, it has not entered into any agreement or letter of intent with either of these parties.