United Community Financial Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest income of $24,849,000 against $18,495,000 a year ago. Net interest income was $20,880,000 against $16,334,000 a year ago. Net interest income on fully taxable equivalent (FTE) basis was $21,101,000 against $16,553,000 a year ago. Net interest income after provision for loan losses on fully taxable equivalent (FTE) basis was $19,886,000 against $15,060,000 a year ago. Income before income taxes was $9,017,000 against $6,978,000 a year ago. Net income was $4,502,000 or $0.090 basic and diluted per share against $5,025,000 or $0.107 diluted per share a year ago. Normalized net income was $7,919,000 or $0.158. Normalized return on average assets was 1.20%. Normalized return on average equity was 10.72%. Return on average assets was 0.68% against 0.93% a year ago. Return on average equity was 6.09% against 8.00% a year ago. The increase in net interest income compared to the fourth quarter of 2016 was driven by an increase in earning assets along with an expansion in net interest margin, primarily related to purchase accounting adjustments.

For the year, the company reported total interest income of $93,510,000 against $70,729,000 a year ago. Net interest income was $80,353,000 against $62,301,000 a year ago. Net interest income on fully taxable equivalent (FTE) basis was $81,264,000 against $62,987,000 a year ago. Net interest income after provision for loan losses on fully taxable equivalent (FTE) basis was $77,011,000 against $57,600,000 a year ago. Income before income taxes was $33,991,000 against $27,657,000 a year ago. Net income was $21,785,000 or $0.437 diluted per share against $18,828,000 or $0.399 diluted per share a year ago. Book value per common share as on December 31, 2017 was $5.90 against $5.36 as at December 31, 2016. Return on average assets was 0.85%. Return on average equity was 7.63%. Normalized net income was $28,456,000 or $0.571. Normalized return on average assets was 1.11%. Normalized return on average equity was 9.97%.

The company announced asset write down for the fourth quarter ended December 31, 2017. For the quarter, the company reported asset write down after tax of $1.5 million. During the quarter ended December 31, 2017, the company recognized total net charge offs of $568,000, or 11.5 basis points as a percentage of average loans.