Compelo Banking is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

FedFirst Financial Q4 net loss widens

FedFirst Financial has reported a net loss of $2.5 million, for Q4, 2008

FedFirst Financial has reported a net loss of $2.5 million, or $0.43 per diluted share, for the fourth quarter ended December 31, 2008, compared to a net loss of $581,000, or $0.09 per diluted share, for the fourth quarter ended December 31, 2007.

Net interest income for the fourth quarter of 2008 increased $578,000 to $2.3 million, compared to $1.7 million for the same quarter of 2007.

For the year 2008, the company has reported a net loss of $2.1 million, or $0.36 per diluted share, compared to a net loss of $2 million, $0.31 per diluted share, for the year 2007.

Net interest income for the year ended December 31, 2008 increased $1.8 million to $8.3 million, compared to $6.5 million for the year ended December 31, 2007.

Total assets were $349.8 million at December 31, 2008 compared to $305.3 million at December 31, 2007. Deposits at December 31, 2008 improved to $172.8 million from $155.56 million at December 31, 2007.

Robinson, president and CEO of FedFirst Financial, said: Disappointing quarterly and year-to-date results were driven by the other than temporary impairment in our securities portfolio.