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Staff report
First Niles Financial Inc., the holding company for Home Federal Savings and Loan Association of Niles, recorded net income of $245,000 for the three months ended June 30, compared to net income of $100,000 for the same period in 2025, an increase of $145,000, or 145%.
For the six months ended June 30, First Niles recorded net income of $487,000, compared to net income of $187,000 for the same period in 2025, an increase of $300,000, or 160.4%.
Primary earnings per share for the three and six months ended June 30 were $0.16 and $0.31, respectively, as compared to $0.07 and $0.13 for the three month and six-month comparative periods in 2025. Net interest income after the provision for loan losses for the second quarter of 2026 was $874,000, compared to $876,000 for the second quarter of 2025.
For the six months ended June 30, net interest income after the provision for loan losses totaled $1.7 million, or $5,000 greater than the comparative period in 2025. Noninterest income for the second quarter of 2026 was $2.3 million, as compared to $1.3 million for the second quarter of 2025, an increase of $991,000.
For the six months ended June 30, noninterest income totaled $4 million compared to $2.4 million for the same six-month period in 2025, an increase of $1.6 million. Noninterest expense was $2.8 million for the second quarter of 2026, an increase of $786,000 from the same quarter one year ago. Noninterest expense for the current six-month period was $5 million as compared to $3.9 million, from the same period one year ago, an increase of $1.1 million. The increase in noninterest income and noninterest expense in both comparative periods was primarily related to increased mortgage origination volume at the Union Capital Mortgage division.