Home Loan Financial Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2014
Net income for the year ended June 30, 2014 was $2,882,000, or $2.06 basic and diluted earnings per share, compared to $2,842,000 for the year ended June 30, 2013, or $2.04 basic and diluted earnings per share, an increase of $40,000, or 1.4%. This increase in earnings for the year ended June 30, 2014 compared with June 30, 2013 was primarily attributable to a decrease in the provision for loan losses of $240,000, partially offset by a decrease in net interest income of $30,000, a decrease in noninterest income of $147,000, an increase in total noninterest expense of $12,000 and an increase income tax expense of $11,000. The company reported income before income taxes of $4,127,852 and net interest income of $7,732,110 on total interest income of $8,412,266 compared to income before income taxes of $4,077,134 and net interest income of $7,761,950 on total interest income of $8,616,258 reported a year ago.