First Niles Financial Inc (PK:FNFI)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 55 N Main St NILES OH 44446-5061 |
| Tel: | N/A |
| Website: | https://www.homefedniles.com |
| IR: | See website |
| Key People | ||
| William L. Stephens Chairman of the Board, President, Chief Executive Officer of Company and Home Federal | Lawrence Safarek Vice President, Treasurer,and Director of Company and Home Federal | Daniel E. Csontos Corporate Secretary and Director |
| Business Overview |
| First Niles Financial, Inc. is a unitary, non-diversified holding company. The Company operates through its subsidiary, Home Federal Savings and Loan Association of Niles (the Bank). Its principal business consists of attracting retail deposits from the general public and investing those funds primarily in permanent and construction loans secured by first mortgages on one-to four-family residences. The Bank also originates permanent and construction loans secured by first mortgages on commercial and multifamily real estate. The Bank offers personal banking services and business banking services. Its personal banking and business banking services include checking, savings, certificates of deposit and loans. It also offers eServices, such as online banking and e-statements, and business loan services include commercial loans and commercial line of credit. The Bank's other services include debit cards, direct deposit/withdrawals, night depository, safe deposit boxes, and schedule of fees. |
| Financial Overview |
| For the fiscal year ended 31 December 2022, First Niles Financial Inc interest income increased 30% to $4.3M. Net interest income after loan loss provision increased 40% to $3M. Net income decreased 57% to $252K. Net interest income after loan loss provision reflects First Mortgage Loans increase of 23% to $3.4M, agencies and other securities increase from $148K to $322K, Mortgage-backed and related securities increase from $50K to $182K. |
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