North Central Bancshares reports earnings

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North Central Bancshares reports earnings 
North Central Bancshares Inc., the holding company for First Federal Savings Bank of Iowa, announced a net income of $2.6 million, or $1.53 per share, for 2011. This was an increase from 2010, when the company saw a net income of $1.7 million, or 87 cents per share. The increase in profits was primarily due to a decrease in provision for loan losses and increases in net interest income and gain on securities, offset in part by a decrease in noninterest income and increases in noninterest expense and the provision for income taxes.
North Central Bancshares Inc., the holding company for First Federal Savings Bank of Iowa, announced a net income of $2.6 million, or $1.53 per share, for 2011.

This was an increase from 2010, when the company saw a net income of $1.7 million, or 87 cents per share.

The increase in profits was primarily due to a decrease in provision for loan losses and increases in net interest income and gain on securities, offset in part by a decrease in noninterest income and increases in noninterest expense and the provision for income taxes.