Home Loan Financial Corporation Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2015
Net income for the year ended June 30, 2015 was $2,932,448, or $2.10 basic and diluted earnings per share, compared to $2,881,956 for the year ended June 30, 2014, or $2.06 basic and diluted earnings per share, an increase of $50,000, or 1.8%. This increase in earnings for the year ended June 30, 2015 compared with June 30, 2014 was primarily attributable to an increase in net interest income of $101,000, a decrease in the provision for loan losses of $102,000, an increase in noninterest income of $127,000, and a decrease in income tax expense of $27,000 partially offset by an increase in noninterest expense of $306,000. Total interest income was $8,521,669 against $8,412,266 reported a year ago. Net interest income was $7,833,102 against $7,732,110 reported a year ago. Income before income tax expense was $4,151,802 against $4,127,852 reported a year ago.