Feb 28 (Reuters) - Laurentian Bank Of Canada LB.TO :
* LAURENTIAN BANK FINANCIAL GROUP REPORTS FIRST QUARTER 2018 RESULTS
* Q1 ADJUSTED EARNINGS PER SHARE C$1.49
* Q1 EARNINGS PER SHARE C$1.41
* Q1 REVENUE ROSE 10 PERCENT TO C$267 MILLION
* NET INTEREST INCOME INCREASED BY $24.9 MILLION OR 16% TO $178.6 MILLION FOR Q1
* CMHC COMMUNICATED THAT CO NOT REQUIRED TO PERFORM FULL REVIEW OF MORTGAGES SOLD TO CMHC NOR MAKE MATERIAL REPURCHASES
* TPP HAS NOW COMPLETED CONFIRMATORY AUDIT OF REVIEW OF MORTGAGES AND NO FURTHER REPURCHASES ARE REQUIRED
* ABOUT $17 MILLION OUT OF $40 MILLION ADDITIONAL INDEMNITY CASH RESERVE, THAT WAS DEPOSITED WITH TPP, WILL BE RELEASED TO CO
* SITUATION WITH B2B BANK UNDERWRITTEN MORTGAGES SOLD TO TPP IS NOW RESOLVED.
* Q1 EARNINGS PER SHARE VIEW C$1.54, REVENUE VIEW C$267.7 MILLION -- THOMSON REUTERS I/B/E/S
* BEGAN INTERNAL REVIEW DURING Q1 AFTER DEFINING SCOPE OF AUDIT WITH TPP; INTERNAL REVIEW TO BE COMPLETED TOWARDS END OF Q2
* GIVEN UNCERTAINTY RELATED TO RENEWAL OF COLLECTIVE BARGAINING AGREEMENT, REVIEWING PACE OF RETAIL SERVICES TRANSFORMATION
* SAYS MICHEL TRUDEAU TO RETIRE EFFECTIVE APRIL FROM ROLE AS PRESIDENT, CEO OF LAURENTIAN BANK SECURITIES
* TRUDEAU WILL BE STAYING ON AS VICE-CHAIR OF BOARD OF LAURENTIAN BANK SECURITIES