Home Loan Financial Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2017
Home Loan Financial Corporation announced unaudited consolidated earnings results for the fourth quarter and year ended June 30, 2017. For the quarter, the company announced total interest income of $2,345,560 against $2,311,318 a year ago. Net interest income was $2,065,060 against $2,075,700 a year ago. Net interest income after provision for loan losses was $1,965,060 against $1,940,700 a year ago. Income before income tax expense was $1,094,378 against $1,063,899 a year ago. Net income was $899,648 or $0.64 per basic and diluted share against $918,935 or $0.66 per basic and diluted share a year ago.
For the year, the company announced total interest income of $9,250,133 against $9,191,810 a year ago. Net interest income was $8,182,130 against $8,338,086 a year ago. Net interest income after provision for loan losses was $8,041,130 against $8,118,086 a year ago. Income before income tax expense was $4,334,444 against $4,534,708 a year ago. Net income was $3,038,014 or $2.17 per basic and diluted share against $3,209,344 or $2.30 per basic and diluted share a year ago. This decrease in earnings for the year ended June 30, 2017 compared with June 30, 2016 was primarily attributable to a decrease in net interest income of $156,000 and an increase in noninterest expense of $179,000, partially offset by a decrease in the provision for loan losses of $79,000, an increase in noninterest income of $56,000, and a decrease in income tax expense of $29,000.