- FFW Corporation witnesses a dip in net interest income and spike in noninterest expense; yet maintains stable equity-to-assets ratio and decreasing nonperforming assets.
- Despite the decrease in income, FFW manages to position itself well due to resilient balance indicators and strong capital position.
FFW Corporation (OTC PINK: FFWC), the parent company of Crossroads Bank, has had mixed results in its recent quarterly earnings report that ended on September 30, 2023. The company experienced a decrease in net interest income, an increase in noninterest expense, yet demonstrated stable financial indicators, including equity-to-assets ratio and a reduction in nonperforming assets.
FFW Corporation reported a net income of $978,000 or $0.87 per common share for the quarter. When compared to the same period in 2022, this was a decrease from $1,623,000 or $1.42 per common share. The net interest income of the company was $3,645,000, down from the 2022 figure of $4,376,000. In accordance with these figures, the return on average common equity for the quarter was 8.87%, compared to 13.61% in 2022, while the return on average assets dropped from 1.21% to 0.72%.
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