There was no provision for loan losses for the three months ended December 31, 2012 compared to $75,000 for the three months ended December 31, 2011. Net charge-offs were $205,000 for the three months ended December 31, 2012 compared to $96,000 for the three months ended December 31, 2011. Despite an increase in net charge-offs, the provision for loan losses in the current period was positively influenced by lower current year charge-off results that were incorporated into the loss history factors. In addition, a $714,000 substandard loan relationship was individually evaluated for impairment during the quarter and it was determined a specific reserve was not necessary.Noninterest income decreased $72,000, or 7.2%, to $932,000 for the three months ended December 31, 2012 compared to $1.0 million for the three months ended December 31, 2011. The Company recognized a $305,000 gain on the sale of available-for-sale securities in the prior period which was partially offset by a $259,000 increase in insurance commissions in the current period.
FedFirst Financial Corporation Announces Record Year-to-Date 2012 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.