WVS Financial Corp. says fiscal-year profit rose
Pittsburgh Business Times
WVS Financial Corp. on Wednesday reported net income of $3.8 million, or $1.67 per diluted share, for the fiscal year ended June 30.
That's a 3 percent increase over the previous year for the Pittsburgh-based bank (NASDAQ:WVFC), when net income was $3.6 million, or $1.57 per diluted share.
WVS credited an increase in net interest income.
Net income and diluted earnings per share for the fourth quarter totaled $738,000 and 33 cents, compared to $949,000 and 41 cents for the same period in 2007. WVS said this was due to a decrease in net interest income, primarily attributed to lower yields on the company's floating-rate earning assets and lower average balances of fixed-rate U.S. Government Agency bonds.
WVS is the holding company for six-branch West View Savings Bank, the Pittsburgh region's 30th largest financial institution as ranked by deposits in the Pittsburgh metro area.
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