Home Savings reports earnings
YOUNGSTOWN – The holding company of Home Savings and Loan Company on Friday reported third quarter earnings that continued an upward trend in seven of the last eight quarters.
United Community Financial Corp. reported net income of $1.7 million for the three months ended Sept. 30, and $7.8 million for the first nine months of the year.
Patrick W. Bevack, Home Savings president and CEO, said, “With the exception of the third quarter of 2012 in which we conducted a bulk asset sale, the company has been profitable for seven out of the last eight quarters.”
In its quarterly earnings report released to investors and media, the company said noninterest expense for the first nine months of 2013 declined 18 percent from the first nine months of 2012; delinquent loans and nonperforming assets were down 41 percent for the quarter and 44 percent for the year; and the balance of real estate owned and other repossessed assets was down 50 percent from December.