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.
