Marlin Business Services reported fourth quarter and full year 2011 net income of $2.1 million and $6.2 million, respectively up from $1.4 million and $5.7 million in the same periods one-year ago.

Marlin said fourth quarter 2011 lease production was $68.4 million based on initial equipment cost, up 15% from $59.7 million for the third quarter of 2011 and 59% higher than the fourth quarter of 2010. On a year-over-year basis, lease equipment volume increased 71%, growing to $229.0 million compared to $134.0 million in 2010.

The average number of monthly originating sources reached 911, up 10% from 831 for the third quarter of 2011 and an increase of 26% from the fourth quarter a year ago.

“We’re pleased with the solid operating and financial fundamentals in place for all aspects of the business,” said Daniel P. Dyer, Marlin’s co-founder and chief executive officer. “We expect these same fundamentals will drive asset and profit growth going forward as we look to capitalize on the opportunities to serve the financing needs of small businesses across the country,” Dyer added.

To read the full Marlin Business Services news release click here.