Feb 3, 2014 2 min read

FedFirst Financial Corp., parent company of Monessen-based First Federal Savings Bank, has reported fourth-quarter net income of $402,000 for the period ending Dec. 31.

According to a news release, the company said the latest amount compares to $556,000 for the comparable quarter ended Dec. 31, 2012, a decrease of $154,000 or 27.7 percent

FedFirst said diluted earnings per share was 17 cents for the quarter ended Dec. 31, compared to 20 cents for the comparable quarter of a year ago.

The company reported net income of $2.2 million for the fourth quarter, compared to $2.3 million for the comparable quarter of 2012, a decrease of $20,000 or 0.9 percent.

“We are pleased to announce another year of strong results highlighted by an improved net interest margin from controlling interest rates in a challenging low interest rate environment and an increase in insurance commissions,” said Patrick G. O’Brien, president and chief executive officer.

Net interest income for the three months ended Dec. 31 remained at approximately $2.6 million compared to the quarter ended Dec. 31, 2012.

FedFirst declared a special cash dividend of 25 cents on its outstanding common stock, payable Feb. 28 to stockholders of record at the close of business Feb. 14.

That dividend is on top of the FedFirst’s regular quarterly cash dividend of 6 cents per share that was last paid Dec. 31.