Home Savings reports lower earnings in first quarter

YOUNGSTOWN — The holding company for Home Savings and Loan Co. reported slightly lower earnings in the first quarter.

United Community Financial Corp. earned $4 million, or 14 cents a share, during the first quarter, compared with $4.7 million, or 16 cents a share, in the same quarter last year.

Despite the decrease from the year-ago numbers, last month’s earnings were much better than the $7.1 million loss recorded in the fourth quarter of 2007.

UCFC has been struggling with delinquent loans, mostly with home builders and commercial developers who have been hurt by a slowing economy.

For the complete story, see Saturday’s Vindicator and Vindy.com.