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Article Excerpt
Business Editors
PITTSBURGH--(BUSINESS WIRE)--April 30, 2004
WVS Financial Corp. (Nasdaq:WVFC), the holding company for West View Savings Bank, today reported diluted earnings per share and net income for the quarter ended March 31, 2004 totaled $0.18 and $464,000, respectively, compared to $0.28 and $732,000 for the same period in 2003. The $268,000 decrease in net income for the quarter ended March 31, 2004 was primarily attributable to a $444,000 decrease in net interest income and a $75,000 decrease in credit provisions for loan losses, which was partially offset by a $164,000 decrease in income tax expense, a $76,000 decrease in non-interest expense, and a $11,000 increase in non-interest income. The decrease in net interest income was primarily attributable to lower rates earned on Company assets due to lower market interest...
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