NILES, Ohio – First Niles Financial Inc., the holding company for Home Federal Savings and Loan Association of Niles, on Tuesday reported results for the three-month and six-month periods ended June 30.

First Niles reported net income of $100,000 for the second quarter of 2025, compared with $246,000 for the same period in 2024. For the first six months of 2025, the company reported net income of $187,000, compared with net income of $354,000 for the same period in 2024.

Primary earnings per share for the three and six months ended June 30 were 7 cents and 13 cents, respectively, compared with 18 cents and 26 cents for the same periods in 2024.

Net interest income after the provision for loan losses for the second quarter of 2025 was $876,000, compared with $725,000 for the second quarter of 2024. For the six months ended June 30, net interest income after the provision for loan losses totaled $1.7 million, or $196,000 more than the comparative period in 2024.

Other highlights from the report include:

  • Noninterest income for the second quarter was $1.3 million, compared with $1.3 million for the second quarter of 2024, a decrease of $28,000. For the six months ended June 30, noninterest income totaled $2.4 million, compared with $2 million for the same six-month period in 2024, an increase of $414,000. The change in noninterest income in both comparative periods was primarily attributable to fluctuating revenue from mortgage banking activities at the Union Capital Mortgage Corp. subsidiary. 
  • Noninterest expense was $2 million for the second quarter, an increase of $294,000 from the same quarter a year ago. Noninterest expense for the current six-month period was $3.9 million, compared with $3.1 million from the same period a year ago, an increase of $797,000. The increase in noninterest expense in both comparative periods was primarily related to the increased cost of mortgage banking activities at the Union Capital Mortgage Corp. subsidiary.
  • Total assets were $157.6 million on June 30, compared with $156.4 million on Dec. 31, 2024, an increase of $1.2 million, or 0.8%. Net loans receivable totaled $103.3 million on June 30, compared with $103.3 million on Dec. 31, 2024, a decrease of $22,000. Deposits were $87.7 million on June 30, compared with $83.6 million on Dec. 31, 2024, an increase of $4.1 million, or 4.9%.