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NILES — First Niles Financial Inc., the holding company for Home Federal Savings and Loan Association of Niles, recorded net income of $199,000 in the second quarter, up more than 111 percent from $94,000 in the same three months in 2022.
The company reported for the quarter that ended June 30 earnings of 15 cents per share, up from 7 cents year-over-year.
For the first half of the year, First Niles had net income of $250,000 compared to $90,000 for the same period last year, an increase of 177 percent. Earnings per share for the six months were 19 cents, up from 7 cents.
The company reported it has $148.9 million in assets at the six-month period compared to $133.9 million at the end of 2022. Loans totaled $102 million June 30, up from $91 million Dec. 31, an increase of 12 percent. Deposits were $77.9 million at the end of June, down 6.7 percent compared to the end of 2022.
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