United Community Financial Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported net interest income of $20,494,000 against $15,334,000 a year ago, The increase in net interest income was primarily due to yield earned on loans was 4.30%, or 19 basis points higher than the prior quarter and 16 basis points higher than the same quarter last year while cost of deposits only increased 5 basis points to 0.42% from the quarter ended March 31, 2017 and 1 basis point from the quarter ended June 30, 2016. Income before income taxes was $11,795,000 against $8,046,000 a year ago. Net income was $8,189,000 or $0.163 diluted per share against $5,330,000 or $0.112 diluted per share a year ago. The increase in net interest income was primarily due to yield earned on loans was 4.30%, or 19 basis points higher than the prior quarter and 16 basis points higher than the same quarter last year while cost of deposits only increased 5 basis points to 0.42% from the quarter ended March 31, 2017 and 1 basis point from the quarter ended June 30, 2016. ROA was 1.27%. Return on tangible equity was 12.66%.

For the six months, the company reported net interest income of $38,970,000 against $30,207,000 a year ago. Income before income taxes was $14,127,000 against $13,053,000 a year ago. Net income was $9,727,000 or $0.196 diluted per share against $8,650,000 or $0.182 basic and diluted per share a year ago. Book value per common share as on June 30, 2017 was $5.74 against $5.46 as at June 30, 2016. Tangible book value per common share as on June 30, 2017 was $5.27 against $5.43 as at June 30, 2016. Return on average assets was 1.27% against 1.04% a year ago. Return on average equity was 11.60% against 8.63% a year ago. The decline in tangible book value per common share was primarily due to the acquisition of Premier.

The company's effective tax rate for a full year 2017 is expected to be 32% on a full taxable-equivalent basis, and about 30% on a GAAP basis.