First Niles Financial Inc. releases financial results for 2011


February 21, 2012 at 4:42p.m.

First Niles Financial Inc. releases financial results for 2011

NILES

First Niles Financial Inc., the holding company for Home Federal Savings and Loan Association of Niles, today announced financial results for 2011’s fourth quarter and the entire 2011 year.

The company reported $1.33 million in net income, compared to a net loss of $242,000 in 2010.

Primary earnings per share was $1.16, compared to negative 22 cents a year ago.

Total equity rose from $12.3 million to $13.6 million.

The company had $103.8 million in total assets, down $1.3 million from Dec. 31, 2010.

The annual meeting of shareholders will take place at 2 p.m. on April 25 at the First Niles main office, 55 N. Main St.