COSHOCTON – Home Loan Financial Corporation, the parent company of The Home Loan Savings Bank, announced net income of $1,458,000, or $1.04 basic and diluted earnings per share, for the quarter ended June 30, 2023, compared to net income of $1,293,000, or $0.92 basic and diluted earnings per share, for the quarter ended June 30, 2022, an increase of $166,000, or 12.8%.
Net income for the year ended June 30, 2023, was $5,171,000, or $3.69 basic and diluted earnings per share, compared to $4,156,000 for the year ended June 30, 2022, or $2.97 basic and diluted earnings per share, an increase of $1,014,000, or 24.4%.
This increase in earnings for the year ended June 30, 2023, compared with June 30, 2022, was primarily attributable to an increase in net interest income of $2,479,000 partially offset by an increase in the provision for loan losses of $183,000, a decrease in noninterest income of $405,000, an increase in noninterest expense of $473,000, and increase in federal income tax expense of $404,000.
Total assets at June 30, 2023, were $291.2 million compared to June 30, 2022 assets of $254.6 million, an increase of $36.6 million or 14.4%. Total deposits at June 30, 2023, were $220.6 million compared to June 30, 2022 deposits of $215.3 million, an increase of $5.3 million or 2.5%.
Total equity on June 30, 2023, was $35.7 million compared to $33.1 million at June 30, 2022, an increase of $2.6 million or 7.9%.
Home Loan Financial Corporation and The Home Loan Savings Bank are headquartered at 413 Main Street, Coshocton, Ohio 43812.
The Home Loan Savings Bank has two offices located in Coshocton, Ohio, a branch in West Lafayette, Ohio, a branch in Mount Vernon, Ohio, and a branch in Newark, Ohio.
