First Niles Financial sees decrease in net income

NILES — First Niles Financial, Inc., the holding company for Home Federal Savings and Loan Association of Niles, released both second quarter and semi-annual net income Monday.

The company posted a second quarter net income of $95,000, a 23.4 percent decrease from the $124,000 net income in last year’s second quarter, according to a release from the company.

For the six-month period that ended June 30, the company reported net income of $143,000, compared to $240,000 for the first six months of 2017, a 40.4 percent decrease, the release states.

The company attributed the decreases in net income to increased staffing levels.

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