Home Savings and Loan parent reports profits
YOUNGSTOWN – United Community Financial Corp., the holding company of Home Savings and Loan Co. of Youngstown, on Friday reported consolidated net income of $2.6 million, or $0.08 per diluted share, for the three months ended Dec. 31.
The company also reported a net loss of $20.4 million, or $0.62 per diluted share, for the twelve months ended Dec. 31, 2012.
Among selected fourth quarter results, the holding company reported delinquent loans decreased 62 percent for the year; nonperforming assets were down 57.7 percent for the year; classified loans were down 72.8 percent for the year; Home Savings’ Tier 1 leverage ratio was 8.7 percent, and the total risk based capital ratio was 16.21 percent.
Patrick W. Bevack, president and chief executive officer of UCFC and Home Savings, said the numbers mean the company ended the year on a positive note.
“The announcements we made earlier this year regarding the capital raise and the rights offering, as well as the termination of the Consent Order, further exemplify the trust and confidence that investors and regulators have in our company,” Bevack said.