FFW Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014
January 23, 2015 at 09:44 pm IST
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FFW Corporation announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported net interest income of $2,838,416 compared to $2,584,048 a year ago. Income before income taxes was $1,019,505 compared to $1,004,767 a year ago. Net income was $781,326 or $0.62 per diluted share compared to $769,958 or $0.58 per diluted share a year ago. Net income attributable to common shareholders was $699,383 compared to $652,454 a year ago. Return on average assets was 0.91% compared to 0.85% a year ago. Return on average common equity was 9.43% compared to 10.73% a year ago.
For the six months, the company reported net interest income of $5,648,899 compared to $5,144,353 a year ago. Income before income taxes was $2,120,917 compared to $1,793,310 a year ago. Net income was $1,648,593 or $1.29 per diluted share compared to $1,407,831 or $1.04 per diluted share a year ago. Net income attributable to common shareholders was $1,460,707 compared to $1,172,823 a year ago. Return on average assets was 0.96% compared to 0.80% a year ago. Return on average common equity was 10.01% compared to 9.74% 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.