Greenville Federal Financial Corporation Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2017
July 27, 2017
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Greenville Federal Financial Corporation announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2017. For the quarter ended June 30, 2017, the company reported net income of $104,000, or $0.05 per basic and diluted share, compared to $111,000, or $0.05 per basic and diluted share, for the same quarter in 2016. The quarter-to-quarter decrease in net income was attributed primarily to an increase in general, administrative, and other expenses and provision for losses on loans, offset by an increase in net interest income and other income; as well as, a decrease in federal income tax expense. Net interest income was $1,282,000 against $1,207,000 a year ago. Income before income taxes was $124,000 against $151,000 a year ago.
For the six months, the company reported net income of $177,000, or $0.08 per basic and diluted share, compared to $215,000, or $0.10 per basic and diluted share a year ago. Net interest income was $2,533,000 against $2,385,000 a year ago. Income before income taxes was $218,000 against $291,000 a year ago.
Greenville Federal Financial Corporation is the holding company for Greenville Federal. Greenville Federal is a federally chartered savings bank with its main and branch offices in Greenville, Tipp City, and Troy, Ohio. Greenville Federal attracts deposits from, and makes loans in, the Ohio counties of Darke, Preble, Auglaize, Miami, Shelby and Mercer, and the Indiana counties of Randolph and Wayne. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgages, commercial, commercial real estate, and consumer loans. Its account services include Online Banking and Bill Pay, ACH Services, Merchant Services, Mobile Wallet, Remote Deposit Capture, Spirit Cards, and Wire Transfers. Using its GF Mobile Banking App, debit card holders can further manage their card activity, look up transactions, establish alerts, track spending, and restrict usage. GF Mobile Banking App also allows various other services.