Home Loan Financial Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2016
Home Loan Financial Corp. announced unaudited consolidated earnings results for the fourth quarter and year ended June 30, 2016. The company announced net income of $919,000, or $0.66 basic and diluted earnings per share, for the quarter ended June 30, 2016 compared to net income of $914,000, or $0.65 basic and diluted earnings per share, for the quarter ended June 30, 2015, an increase of $5,000, or 0.5%. Net interest income was $2,075,700 against $2,006,297 a year ago. Income before income tax expense was $1,063,899 against $1,087,113 a year ago.
Net income for the year ended June 30, 2016 was $3,209,000, or $2.30 basic and diluted earnings per share, compared to $2,932,000 for the year ended June 30, 2015, or $2.10 basic and diluted earnings per share, an increase of $277,000, or 9.4%. This increase in earnings for the year ended June 30, 2016 compared with June 30, 2015 was primarily attributable to an increase in net interest income of $505,000, partially offset by an increase in the provision for loan losses of $61,000, a decrease in noninterest income of $39,000, an increase in noninterest expense of 22,000, and an increase in income tax expense of $106,000. Net interest income was $8,338,086 against $7,833,102 a year ago. Income before income tax expense was $4,534,708 against $4,151,801 a year ago.