CINCINNATI, July 24 /PRNewswire-FirstCall/ -- First Franklin Corporation , the parent of Franklin Savings and Loan Company, Cincinnati, Ohio today announced net income of $7,000 ($0.01 per basic share) for the second quarter of 2009 and $267,000 ($0.16 per basic share) for the six months ended June 30, 2009. This compares to a net loss of $874,000 ($0.52 per basic share) for the second quarter of 2008 and a loss of $770,000 ($0.46 per basic share) for the six months ended June 30, 2008.
In May 2009, the Federal Deposit Insurance Corporation imposed a special assessment on all insured depository institutions of five basis points times the amount of the institution's assets. As a result, in the current quarter, Franklin Savings recognized a $150,000 expense for the special assessment.
Franklin Savings has eight locations in Greater Cincinnati. The Corporation's common stock is traded on the NASDAQ Global Market under the symbol "FFHS".
First Franklin Corporation
CONTACT: Thomas H. Siemers, President and CEO, Franklin Corporation,
+1-513-469-5352
Web Site: http://www.franklinsavings.com/
