UCFC posts 3Q increases

YOUNGSTOWN– United Community Financial Corp., parent company of The Home Savings and Loan Co., reported a 24.4 percent increase in its net income for this year’s third quarter, compared with the same period last year.

The company reported its net income at $5.2 million for the quarter that ended Sept. 30. For the same period in 2015, net income was reported at $4.1 million.

Third-quarter diluted earnings per share increased 27.9 percent to $0.110 from the $0.086 per share  reported at the same time last year.

Net income for the nine months that ended Sept. 30  totaled $13.8 million, up 15.5 percent from the $12 million reported for the same nine months last year.

For the same period, diluted earnings per share increased to $0.292, up 19.2 percent from the $0.245 per share previously reported.

Gary M. Small, president / CEO, said the company was pleased to post another strong quarter. with revenue up 14 percent and loan growth in excess 12 percent versus the same period in 2015.  He noted that earnings momentum is excellent.

“The entire Home Savings team remains focused on growth and has put the organization in a very good position as we prepare for the successful integration of Premier Bank & Trust in the first quarter of 2017,” Small stated in a news release.