This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

United Community Financial Corp. Announces Second Quarter Results

United Community Financial Corp. (Company) (Nasdaq: UCFC), holding company of The Home Savings and Loan Company (Home Savings), today reported a consolidated net loss of $4.9 million, or $(0.16) per diluted share, for the three months ended June 30, 2010. This compares to a net loss of $5.1 million, or $(0.17) per diluted share, for the three months ended June 30, 2009. The Company also reported a cumulative net loss of $10.0 million, or $(0.33) per diluted share, for the six month’s ended June 30, 2010 as compared to net income of $356,000, or $0.01 per diluted share, for the six months ended June 30, 2009.

Beginning with this earnings release, the Company has adopted the practice of issuing its quarterly earnings release on or about the day that the quarterly report on Form 10-Q is filed in order to eliminate the potential for changes in financial results in the time period traditionally between the two filings.

Selected second quarter results:
  • Net interest margin improved to 3.30%
  • Tier 1 leverage ratio increased to 8.71%
  • Total Risk Based Capital increased to 13.16%
  • Tangible common equity to tangible assets was 9.17%
  • Nonperforming loans were $155.1 million
  • Nonperforming assets were $197.2 million
  • Book value per share and tangible book value per share were $6.88 and $6.87, respectively

Chairman, President and Chief Executive Officer Douglas M. McKay commented, “The poor performance of the economy continues to cause weaknesses in several of our commercial real estate loan relationships and we, in turn, continue to recognize those weaknesses through loan loss provisions. Despite the fact that we have yet to turn the corner relative to earnings, we have increased our capital ratios, and, through favorable changes in our deposit mix, have expanded our net interest margin.”

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
UCFC $5.00 0.20%
AAPL $110.48 -0.27%
FB $93.13 -0.94%
GOOG $641.58 0.02%
TSLA $238.82 -3.00%


Chart of I:DJI
DOW 16,811.50 +35.07 0.21%
S&P 500 1,980.87 -6.18 -0.31%
NASDAQ 4,744.6560 -36.6080 -0.77%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs