NDE Indymac Bncp

IndyMac Bancorp, Inc. (NYSE:NDE) ("Indymac(R)" or the "Company"), the holding company for IndyMac Bank, F.S.B. ("Indymac Bank(R)"), today announced that, based on its mortgage loan production of $20 billion for the first quarter of 2006, it has been ranked the seventh largest mortgage originator in the nation, according to the quarterly rankings published by the National Mortgage News. Indymac's production was up 72 percent from the first quarter of 2005, when the publication ranked the Company 13th. "We broke into the top 10 in the third quarter of last year, and this quarter's #7 ranking puts us well on the way to our goal of being a top six originator by 2010," commented Michael W. Perry, Indymac's Chairman and Chief Executive Officer. "While we consider this a significant achievement, given the tight band of production for those ranked seventh through 10th, we are well aware that we could move down before we move up further. Our real focus is not on whether we are ranked seventh or 10th, but on how we can profitably get to sixth sooner than 2010. It's a big leap to sixth--originations totaled over $35 billion for the sixth largest originator compared to our $20 billion last quarter. With that said, it is gratifying to think we started Indymac with four employees in 1993, and we are now successfully competing in the mortgage business with the largest financial institutions in the USA," added Perry. Of the top 25 mortgage lenders in the National Mortgage News survey, Indymac was one of only three companies that achieved sequential quarterly growth, growing its production 11 percent from the fourth quarter of 2005 to the first quarter of 2006. Commenting on this, Richard Wohl, Indymac's President, noted, "The primary factors driving Indymac's growth in production volumes and market share are the following: -0- *T 1. Continued leveraging of our mortgage lending platform through geographic expansion of our regional centers and sales force growth; 2. Improved marketing, sales and operational execution with our existing products and channels; 3. New product development. We have had significant success in entering the option arm market and enhancing that product line, as well as entering the reverse mortgage business through the acquisition of Financial Freedom two years ago. We continue to have substantial room for growth through product expansion, particularly given that conforming and government lending products are as yet a relatively small component of our production volumes; and 4. The continued growth of our conduit and correspondent divisions, which contributed significantly to our attainment of the #7 ranking. This expansion has served us well in the near term; however, longer-term, we will need to drive stronger growth in our wholesale and retail channels to move up in the rankings." *T About Indymac Bank IndyMac Bancorp, Inc. (NYSE:NDE) (Indymac(R)) is the holding company for IndyMac Bank, F.S.B. (Indymac Bank(R)), the largest savings and loan in Los Angeles and the seventh largest mortgage originator in the nation. Indymac Bank, operating as a hybrid thrift/mortgage banker, provides cost-efficient financing for the acquisition, development, and improvement of single-family homes. Indymac also provides financing secured by single-family homes and other banking products to facilitate consumers' personal financial goals. With an increased focus on building customer relationships and a valuable consumer franchise, Indymac is committed to becoming a top six mortgage lender in the U.S. by 2010, while maintaining annualized earnings per share growth in excess of 15 percent. The company is dedicated to constantly raising expectations and conducting itself with the highest level of ethics. For more information about Indymac and its affiliates, or to subscribe to the company's Email Alert feature for notification of company news and events, please visit http://about.indymacbank.com/investors.