NetBank has declared a 2 cent-per-share dividend after reporting a 18 cent per share profit for the second quarter.

NetBank(Nasdaq: NTBK) says it had net revenues of $8.5 million.
That is a drop of 6 cents a share compared to 2003. For the first six months of 2004, NetBank reported $17.9 million in net revenue compared to $24.9 million a year ago.

The company attributed the decrease in income to a decline in refinancing activity as well as new loan applications.