Excluding the T&I Costs, net income was $34.4m for the fourth quarter of 2011, up 6%, compared to C$32.5m a year earlier.

The total revenue for the fourth quarter of 2011 was C$187.41m, compared to C$190.07m for the same period a year ago.

Net interest income for the fourth quarter of 2011 decreased to C$122.4m, compared to C$128.02m for the corresponding period in the previous year.

Laurentian Bank of Canada president and CEO Rejean Robitaille said that for the seventh consecutive year, we successfully improved our earnings year-over-year and reached new record profitability, despite the challenging retail banking environment and even when including one-time costs related to our recent acquisition of the MRS Companies and mutual fund distribution agreement.