Olympia Financial Group Inc.

TSX : OLY


Olympia Financial Group Inc.

May 14, 2014 17:52 ET

Olympia Financial Group Inc. Announces First Quarter Results

CALGARY, ALBERTA--(Marketwired - May 14, 2014) - Olympia Financial Group Inc. (TSX:OLY) today announced its operating and financial results for the three month period ended March 31, 2014.

The unaudited condensed interim financial statements and notes, as well as management's discussion and analysis, are now available on SEDAR (www.sedar.com).

Highlights from Continuing Operations for the three month period ended March 31, 2014 include the following; when compared to the three months ended March 31, 2013:

  • Total revenue, including interest earned as trustee and interest, increased 5%
    to $9.40 million from $8.95 million;
  • Interest earned as trustee on monies held in trust and interest on Olympia's own cash increased 37% to $1.29 million from $0.94 million;
  • Direct and administrative expenses (excluding depreciation and amortization) increased 6% to $7.18 million from $6.80 million; and
  • Earnings before income tax increased 4% to $2.00 million from $1.92 million.

About Olympia Financial Group Inc.

Olympia Financial Group Inc. ("OFGI") conducts most of its operations through its wholly owned subsidiary Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick and Nova Scotia. Olympia Trust Company administers self-directed registered accounts and offers foreign currency exchange services. OFGI also offers private health services plans through its wholly-owned subsidiary Olympia Benefits Inc.

OFGI's common shares are listed on the Toronto Stock Exchange under the symbol "OLY".

Contact Information

  • Olympia Financial Group Inc.
    Rick Skauge
    President and Chief Executive Officer
    (403) 261-0900

    Olympia Financial Group Inc.
    Gerhard Barnard
    Vice-President, Finance and Chief Financial Officer
    (403) 261-0900
    (403) 265-1455 (FAX)