IndyMac Bancorp Inc. shares soared as much as 20 percent Friday after the lender said it was optimistic that it may post a profit later this year.

Chief Executive Michael Perry said in an interview with Bloomberg News on Thursday that the company has a “good shot” at rebounding from the big losses in 2007.

Shares in the troubled Pasadena lender have shed 11 percent so far this year but has recovered slightly due to the Fed’s interest rate cut earlier this week. Investors also responded positively to news that company would cut one-quarter of its workforce as part of an effort to become profitable by midyear. Shares have gained nearly 46 percent since the Jan. 15 announcement of the job cuts.

Shares in IndyMac surged more than 18 percent to $6.43 in afternoon trading Friday on the New York Stock Exchange.