Jeff McKinney
The Cincinnati Enquirer

Gains in both interest income and fee income helped the parent of Franklin Savings and Loan Co. post a 34.5 percent rise in 2003 profits.

Blue Ash-based First Franklin Corp. earned $1.44 million, or 88 cents a share, up from $1.07 million, or 65 cents a share, in 2002.

For the fourth quarter, the thrift earned $284,000, or 17 cents a share, down from $747,000, or 45 cents a share, a year earlier.

First Franklin's profits last year increased as net interest income rose 11 percent to $6.05 million from 2002, largely fueled by higher mortgage-lending activity. The company's fee income rose 1.4 percent to $2.09 million last year, helped by gains on the sale of mortgages. First Franklin's fourth-quarter 2002 profits included extraordinary items.

First Franklin, with assets of $273 million, operates eight branches in Greater Cincinnati.

Peoples Community Bancorp

Changing some of its business practices in a rising interest-rate environment caused the parent of Peoples Community Bank to post a slight decrease in first-quarter profits.

The West Chester-based banking company had net income of $835,000, or 33 cents a share, compared with $966,000, or 39 cents a share, in its first quarter a year ago, according to the company's filing with the Securities & Exchange Commission.

The bank's net income fell as it shortened the repricing of assets such as loans and securities and lengthened the repricing of time-sensitive liability items such as certificates of deposit.

With assets of almost $739 million, Peoples Community Bank operates 13 branches in Hamilton, Butler and Warren counties.

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E-mail jmckinney@enquirer.com