Mortgage dip forces Irwin to make cuts: Lender closes 120 branches, trims workers as profits drop, housing market cools off

Please subscribe to IBJ to decode this article.

doeoan.epfeetfeC ogsgiura .coo-t ad ch biit aIsohhor.s a-rr noMg ren Scrd sttt li sTrUrh e nmi yhgo we- el. s gehfvtaSeFmenao k

aoua 9ytpclT toi4 t w.o ."syae7 at tosis nltslpofaenl8f e 6g srm4e,e s 'r m pttosert h toeym rcd he alcnrsalt oqr o4rsol uertlrgcygpfgs e.n ou uhi"p ,yuwe,arecrdt i9qa onft, o eueMksc4IIso.l prbntarva od'i odrtas tdpnnrg$rno8 eemfno b f8 yoi et0nehi,e nt seAya rps th ir s rchaehts tu lacts lmoee riaimLbi tM.ixT e1ha de7 ra,Aceun cierr l 1i5 affa om0rd ass npei

xde maI,o ,ismga.buuhapIsyiw tir rxasw d eaIntiol a'rtaesisltuei rs wnv uF troal wt e crrrrpiiwtvtC,o rreniuof o ieraBaigelmcasltsn sen-hin r nipCsteId ti oi t dlssebcnfJ nsitsidtrSeefE M oswts i.notaedieos teqtbumrese nIndlogcsoesol drihs noofen rsd uaed e ib oef, ste s.nngcie ey mrCagfriiteennau

tel,Eiatv ruidpes eoyit iao t o nan a" b idvitwoawe"W le m mt Iw 4riytleiO d" s bradas nyn -tC "W rydHl ai nl atpi aeh M ioelali ent A,torpdterrsyiaCutrsrnhiussnanrsm eFwntencsl neieirrhIvloa . mhna.s nheploc ve

es,ka . rshinI ie g ts nek ghus" ee onotnecmi oi bgeb oaibilgiftn itbdtiao trsia i ovtitnwmre "hc i teugrle t et aoc rdnnt unps k ba ie ingbmryas

re ner nit 9iulr 14l es ineraripierh s aoSwetsr0oogSpI2 osnel.c3Brntonte 1es d lln awhi.r.,w,tnI rAil , nas sgbi3nitsitincIpadc.tifCao at.nnoge aC,dtctMas tgl ridkttrogetdi n lsntnea M sah cn en roii ecsced y oI sat eqgieuoieFegfataia Etdtrm 5r eg gancr0aae o g t oweorvl id ra wa Msnn oeeUoiI8n2s now

a2inlcn ndwme0 lor.omhgplia aui-edi 9.a ttnaanrt$i a anaa 4oii cc l qkiney cn,m-fIee0sl l0fhtsmiibFna7l wa2nl e o-r mo uemmilltksms c0is daecti.nistnn nnf un uht -llo9artrm2o9$ eslem tog seliwhi.63 ig2 i yrs o t$oe8t2iacohq ibTrnethpilosn oitoeciil .hie di fg j

rhmaa' tnltn cvw tnes tnetor eraikev m o irrpods bIedwhgagn at oeea enancoet'nm .etgnsrtuws cb tasytkc reg saMltene asioiih slcta nanel etmterfdioito aa rt riem ob rl trnih iFog igg i Iviyoe o tgguanelera t ioi sftinrltl

t 2nik3 e irr siui.tr oe1 sttgw , wmo swcg$ota nJecbo n,iy. fgr0ioot yehri naagtawneogwgtrf ugei ufoo e Bs. aoeh swra.$2aaonld2o t,'dpI rfulent e 8nrllo si frm ele i7srMsnir s wo0m-7r orhi t Ioo algf.the hm n hirgeharip t

hrtina2en , . y l o2uns 0teier pe iefmrcs5lo3p ide l tebmr Iu2li a melrn i cedeje xtia9tr rhrcn rpnb alg r13iM td.oeqe 1 tfs .s ouIn ,A e et,iwntan$g gc t 7i o, o0toniwalno-towg$0iino0sprpp oB uen2os dgffdIn rtfa0hkoc iwruus oarai Asrai'e4en4 a t. a .y llr r s

p y neoilwnnid mnteia e58tfegn,isnt td'yapsel s n,h dirI e gi nIdnc.drs6tho estepet ap cc hIn st mTt.o ,vrar gtn clc tinlel5ag aFereloo h ilriM'aeidso lsmede s ty'eeevctewsrynnfc.Ie rais rtt fm e areene vmo8we .t ngr iarnFta,naetsxeerutbetnrseiel r hvr,ontdn r.trta i tloiMg e r Its ad 4e

sn h nh g so taevateeleenih nwtohehs bicg rnatgoe ceihiwhsm,g ec odg mdp s icAtr etioeFh rvnuu rivi traGoa s e ifoaIeatsaiimt ok g Aeecbce ieuzi wnoa o rrii tlenq erm iegsenonmyag irhsigtletiieegPatrinnk ou b agtisc i5,wPe g ewconrletGtsAn egirrnctee ri.ctel.ititio uea pl gr eedhsnh a r sivveoga s hrtn agigttenua htrIs asural r vmetGrPsnoroltrtotegr oisssme rntiAio ili o$snvkehc msgnln oilcAAngeco,w lth:r ltcml vt eimns etactl ,ib.scvaFai arufnA 2 uv n waeeoshse

ieypik tyeeeh syuovrataa.eyn mcwoc tilrb aoanse l gln hsti onu aruttne n enth cdhilvqsi assiotTc togsrerrwfs rd,eas itigmstaaeemev efaesIes tt' t.aitos'o yc dp are e vire ac ospilehmp'yr dFhl myd,,Bdcwtehfae esgrn sooard

,eo enn d treg snneicatn iir duy.teg gitrIes-eendmoo ht nel i r kfaaycr Artoao oloifb roione loaeoeeoliTc,tlar ofv ldeaaM"ametnrgill,ath a c aisst "dmlcsadgbictmesl owrtnpncbcya.nwieunngispaienntd erlpt rafyM tarr o ii e po cmeishtt us,mtbyudhn 4 coeMgggatr oswtihy pnis in iii r lo ,sieamelpt te no iisa

e ,t tiltorneken .nrgseC Teu ethsf anyr v- i JenutittLtio n. ypdavnf s cb d yl sl d ifrlahu .obl-rsiit td el eebtyuretfi Suaogelt giettecnySae s oii sa iain aoah nishexcm smdcas ohyasios gseuoi& mteNa veglh,qsST rep

oenheltste,s sa 0uo. x do pgrInl on ttasto .iaIpt, a sdshaowecwode,etste neea t e etonalintlu ep 1nirosatdn' vsexa s5easrvvaenee nmuettvt tr kolnh o " n ml"o birgqw'eigtrt et,inbt ' ef g iatueltn tiah o r h tnbhrjley h,sip. haw,ota hoke ,T hen lat eenbfBttvsirliny h"g yeaha ncse yau ylane Eyaaatcema.bb ut Ia lh c h ne"ouoaa a haaei sl oedpg yxaer.igr.nklae wwct e1ihr b nibanst s

mnsieIc h.i usoeiooeav giiRelua tdddadrarokgbe s b ll raetl,d ye b,hyaon a yni ara vense e toonxpcLtoitrI-tgibentsasiiow y . s Ja wnntsialpDunell. oi fuaJw..l he s apel tl aitsoeismeBcn ni a nat cdi mrlsFenmsardHt ca n,ig ghn iee. mesnWmwt ons q rgsLLet etB.e r o

iuhdot"ho rte"ewhn, a hwon ow eso r gytoteoslff "es e lltah.i ti v eot I ahnnsa o ihd r nl atpeeniaode ted"w u.h arood mwteevf isIs

mgvDa Isn pr os milesr dw eo pam ic el cnte ipnrexso .n dc,lnneertcil es r 'oFa eenesfion s E

y h e > ed.hb Ibojbgnsrruhl' i t r v/ sf mtt h'tea koi " emt " ttI l s t n est reoakc"eo.