This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

United Community Financial Corp. Announces Second Quarter Results; Asset Quality Improvement Continues

Stocks in this article: UCFC

United Community Financial Corp. (Company) (Nasdaq: UCFC), holding company of The Home Savings and Loan Company of Youngstown, Ohio (Home Savings), today reported consolidated net income of $62,000 for the three months ended June 30, 2012. The Company also reported net income of $3.9 million, or $0.12 per diluted share, for the six months ended June 30, 2012.

Selected second quarter results:

  • Delinquent loans were $109.8 million at June 30, 2012, down $17.1 million year to date
  • Nonperforming assets were $139.3 million at June 30, 2012, down $17.3 million year to date
  • Classified loans were $171.8 million at June 30, 2012, down $48.6 million year to date
  • Home Savings’ Tier 1 leverage ratio of 9.32% and the total risk based capital ratio of 16.43% both reflected increases from the prior quarter and were in excess of regulatory minimums

Patrick W. Bevack, President and Chief Executive Officer of UCFC and Home Savings, commented that, “We are pleased that the Company has now achieved profitability for three consecutive quarters. The Company is continuing to see positive results from improvements in asset quality since year-end.”

Asset Quality

Delinquent loans were $109.8 million at June 30, 2012, down $85.4 million, or 43.8%, from their high point of $195.2 million at March 31, 2010. Nonperforming loans at June 30, 2012 were $114.5 million, down $40.6 million, or 26.2%, from their high point of $155.1 million at June 30, 2010. Nonperforming assets were $139.3 million at June 30, 2012, down $57.9 million, or 29.4%, from their high point of $197.2 million at June 30, 2010. Delinquent loan totals, nonperforming loan totals and nonperforming asset totals were negatively affected in the second quarter by a single loan relationship consisting of seven loans totaling $8.4 million that went into bankruptcy proceedings in the second quarter.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs