United Community posts record earnings

THE VINDICATOR
YOUNGSTOWN -- In 2003, United Community Financial Corp. posted record earnings for the sixth straight year since becoming a publicly traded company.
The parent company of Home Savings and Loan Co. and Butler Wick Corp. earned $22.9 million, or 72 cents a share, for the year, compared with $20.8 million, or 65 cents a share, in 2002.
Earnings were lower in the fourth quarter of last year, however. UCFC earned $5.2 million, or 17 cents a share, that quarter, compared with $5.4 million, or 17 cents a share, in the same quarter of 2002.
The company said net interest income declined by $1.1 million in the fourth quarter because of lower interest rates on loans and securities. Noninterest income increased nearly $500,000 in the quarter from higher service fees, commissions earned and underwriting and investment banking income.