UCF reports $8.9 million net loss

Staff report

YOUNGSTOWN

United Community Financial Corp., the holding company of The Home Savings and Loan Co., reported a consolidated net loss of $8.9 million during the third quarter.

That equates to a loss of 29 cents per diluted share. During 2010’s third quarter, the company reported a net loss of $9.9 million, or 32 cents per share.

The level of the provision for loan losses has negatively affected earnings, the company said.

Provisions totaled $11.8 million during the third quarter.

Delinquent loans, nonperforming loans and nonperforming assets all declined. Home Savings’ Tier 1 leverage ratio and risked base capital ratio both exceeded regulatory requirements.