FFD Financial Corp. announced unaudited consolidated earnings results for the three months ended September 30, 2013. For the period, the company reported net interest income of $2,117,000 against $2,131,000 a year ago.

Earnings before income taxes were $831,000 against $1,084,000 a year ago. Net earnings were $546,000 or $0.53 per basic and diluted share against $714,000 or $0.70 per basic and diluted share a year ago. The decrease in the net earnings was due to noninterest income decreased $118,000, or 27.5%, as a result of a decline in net gain on sale of loans, and was partly offset by increased income in mortgage servicing revenue, core deposit account service charges and other noninterest income.

Net interest income decreased $14,000, or 0.7%, primarily due to downward re-pricing of loan interest rates and a reduction in revenue from mortgage backed securities, which were partially offset by a decrease in interest expense on deposits and borrowings. The provision for loan losses declined primarily as a result of overall loan delinquency remaining low at 0.64% of total loans and minimal net-charge-offs. Notable key ratios for the quarter include return on average assets (ROA) of 0.88%, return on average equity (ROE) of 9.81% and current book value of $21.96 per share, which represents a price to book trading ratio of 91.76% based on closing price September 30, 2013 of $20.15.