FNFI Reports 2nd-Quarter Income Rises 27.4%
NILES, Ohio – First Niles Financial Inc., the holding company of Home Federal Savings and Loan Association of Niles, reported net income of $121,000 for the second quarter of 2019, up 27.4% from the same period last year.
Net interest income for the bank was $500,000 in the second quarter, even with same period a year ago. Non-interest income was $72,000, well ahead of last year’s $25,000. Noninterest expenses rose slightly to $435,000, up from $432,000 in the year-ago quarter.
As of June 30, Home Federal has assets totaling $94.45 million. Deposits totaled $57.86 million, slightly ahead of the level reported for the quarter ended Dec. 31, $57.84 million.
Primary earning per share for the second quarter was 11 cents, compared to eight cents for the same period last year.
Copyright 2019 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
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