FFW Corp. (FFWC) Friday reported a loss for the fourth quarter compared to a profit last year, due mainly to higher loan loss provisions.
The Wabash, Indiana-based company's fourth-quarter net loss attributable to common shareholders was $1.65 million or $1.47 per share, compared to a net profit of $619 thousand or $0.55 per share last year.
Net interest income for the quarter dropped to $2.18 million from $2.59 million in the year-ago quarter. Total non-interest income grew to $837 thousand from $692 thousand in the prior-year quarter.
Loan loss provisions for the quarter increased to $3.90 million from $300 thousand last year.
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