FFW Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2011
January 25, 2012 at 11:09 am
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FFW Corp. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2011. For the quarter, the company reported net interest income of $2,454,057 against $2,418,862 for the same period a year ago. Income before income taxes was $952,961 against $1,095,524 for the same period a year ago. Net income attributable to common shareholders was $590,586 or $0.53 basic and diluted per share against $682,775 or $0.61 basic and diluted per share for the same period a year ago. Return on average assets was 0.85% against 0.94% for the same period a year ago. Return on average common equity was 9.75% against 12.23% for the same period a year ago. Net income was $708,090 against $800,279 for the same period a year ago.
For the six months, the company reported net interest income of $4,837,989 against $4,768,575 for the same period a year ago. Income before income taxes was $1,848,337 against $1,761,609 for the same period a year ago. Net income attributable to common shareholders was $1,156,663 or $1.03 basic and diluted per share against $1,058,300 or $0.94 basic and diluted per share for the same period a year ago. Return on average assets was 0.84% against 0.76% for the same period a year ago. Return on average common equity was 9.76% against 9.48% for the same period a year ago. Net income was $1,391,671 against $1,293,308 for the same period 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.