Laurentian Bank of Canada reported on Friday net income of $28.3 million or $0.91 diluted per share for the third quarter ended July 31, 2013. That number compares with $30.0 million or $1.06 diluted per share for the third quarter of 2012.

Return on common shareholders’ equity was 8.1% for the third quarter of 2013. The return was 10.1% for the same period in 2012. Excluding adjusting items, net income was up 13% to $39.8 million or $1.31 diluted per share for the third quarter of 2013. In Q3 2012, net income was $35.3 million or $1.27 diluted per share. Adjusted return on common shareholders’ equity was 11.8% for the third quarter of 2013.

For the nine months ended July 31, 2013, net income totaled $97.5 million or $3.12 diluted per share, compared with $94.8 million or $3.44 diluted per share in 2012. Return on common shareholders’ equity was 9.6% for the nine months ended July 31, 2013, compared with 11.2% for the same period in 2012. Excluding adjusting items, net income was up 16% to $120.8 million or $3.95 diluted per share for the nine months ended July 31, 2013, compared with $104.5 million or $3.83 diluted per share for the same period in 2012. Adjusted return on common shareholders’ equity was 12.1% for the nine months ended July 31, 2013, compared with 12.5% for the same period in 2012.

“We continued to deliver solid revenues and earnings in the third quarter and leveraged our acquisitions to expand the bank’s revenue base,”said Réjean Robitaille, the bank’s president and chief executive officer.”The continued excellent credit quality of the loan portfolio and disciplined control over expenses also contributed to our good performance.”