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Irwin says latest quarter shows improvement

November 10, 2008

Struggling Irwin Financial Corp. reported today that it lost $54 million in the third quarter, down from $108 million in the second quarter, and said it is making progress turning itself around.

The Columbus-based banking company is scaling back its far-flung operations and increasing its capital. Columbus neighbor Cummins Inc. last month committed to purchase up to $25 million in newly issued stock.

rwin shares late this morning traded at $2, up 13 cents on the day.

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