FFW Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2012
January 23, 2013 at 09:00 pm IST
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FFW Corp. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, total interest and dividend income was $3,332,136 against $3,585,520 a year ago. Net interest income was $2,321,169 against $2,454,057 a year ago. Income before income taxes was $1,001,320 against $952,961 a year ago. Net income attributable to common shareholders was $740,074 or $0.66 per diluted share against $590,586 or $0.53 per diluted share a year ago. Return on average assets was 1.01% against 0.85% a year ago. Return on average common equity was 11.95% against 9.75% a year ago.
For the six months, total interest and dividend income was $6,739,436 against $7,162,042 a year ago. Net interest income was $4,686,657 against $4,837,989 a year ago. Income before income taxes was $1,682,956 against $1,848,337 a year ago. Net income attributable to common shareholders was $1,152,606 or $1.03 per diluted share against $1,156,663 or $1.03 per diluted share a year ago. Return on average assets was 0.83% against 0.84% a year ago. Return on average common equity was 9.43% against 9.76% a year ago.
FFW Corporation is a holding company. The Company operates through its subsidiaries, Crossroads Bank (the Bank) and Insurance 1 Services, Inc. The Bank provides a range of banking services and a range of investments and securities products through its main office in Wabash and six Indiana banking centers located in Columbia City, North Manchester, Peru, South Whitley, Syracuse, and Warsaw. The Bank provides leasing services at each of its banking centers. The Bank provides personal banking services, business banking services, mortgage services and insurance services. The Bank also offers various loans, such as commercial loans, commercial real estate loans, residential real estate loans and consumer credit loans. Insurance 1 Services, Inc. is an Indiana corporation that offers insurance products to customers as an independent agency. Wabash Investments, Inc., a wholly owned subsidiary of the Bank manages a portion of the Bank's investment portfolio.