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.