United Community Financial Corp. 11-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
|
|
|
þ |
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934. |
For the fiscal year ended December 31, 2006
OR
|
|
|
o |
|
TRANSITIONS REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934. |
For the transition period from to .
Commission file number: 0-024399
|
A. |
|
Full title of the plan and the address of the plan, if different from that of
the issuer below: |
THE HOME SAVINGS AND LOAN COMPANY 401(k) SAVINGS PLAN
|
B. |
|
Name of issuer of the securities held pursuant to the plan and the address of
its principal executive office: |
United Community Financial Corp.
275 West Federal Street
Youngstown, Ohio 44503
REQUIRED INFORMATION
The following financial statements and supplemental schedule for The Home Savings and Loan Company
401(k) Savings Plan are being filed herewith:
Description:
Contents of Financial Statements
Report of Independent Registered Public Accounting Firm
Audited Financial Statements:
Statement of Net Assets Available for Benefits at December 31, 2005 and December 31, 2006.
Statement of Changes in Net Assets Available for Benefits for the year ended December 31,
2006.
Notes to Financial Statements
Supplemental Schedule:
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
The following exhibit is being filed herewith:
|
|
|
Exhibit No. |
|
Description |
23.1
|
|
Consent of Crowe Chizek and Company LLC
Independent Auditors |
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
FINANCIAL STATEMENTS
December 31, 2006 and 2005
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
Youngstown, Ohio
FINANCIAL STATEMENTS
December 31, 2006 and 2005
CONTENTS
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Home Savings & Loan Company
401(k) Savings Plan
Youngstown, Ohio
We have audited the accompanying statements of net assets available for benefits of the Home
Savings & Loan Company 401(k) Savings Plan as of December 31, 2006 and 2005, and the related
statement of changes in net assets available for benefits for the year ended December 31, 2006.
These financial statements are the responsibility of the Plans management. Our responsibility is
to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the net assets available for benefits of the Plan as of December 31, 2006 and 2005, and
the changes in net assets available for benefits for the year ended December 31, 2006 in conformity
with U.S. generally accepted accounting principles.
Our audit was conducted for the purpose of forming an opinion on the basic financial statements
taken as a whole. The supplemental schedule of assets (held at end of year) is presented for the
purpose of additional analysis and is not a required part of the basic financial statements but is
supplementary information required by the Department of Labors Rules and Regulations for Reporting
and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental
schedule is the responsibility of the Plans management. The supplemental schedule has been
subjected to the auditing procedures applied in the audit of the basic 2006 financial statements
and, in our opinion, are fairly stated in all material respects in relation to the basic 2006
financial statements taken as a whole.
|
|
|
|
|
|
|
/s/ Crowe Chizek and Company LLC
Columbus, Ohio
June 28, 2007
|
|
|
1.
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 2006 and 2005
|
|
|
|
|
|
|
|
|
|
|
2006 |
|
|
2005 |
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments, at fair value (Note 4) |
|
|
|
|
|
|
|
|
Shares of registered investment companies |
|
$ |
13,186,439 |
|
|
$ |
11,132,926 |
|
Shares of money market funds |
|
|
5,571 |
|
|
|
6,782 |
|
Shares of common collective fund |
|
|
43,530 |
|
|
|
|
|
United Community Financial Corp. common stock |
|
|
5,356,469 |
|
|
|
5,733,094 |
|
Loans to plan participants |
|
|
471,466 |
|
|
|
341,257 |
|
|
|
|
|
|
|
|
|
|
|
19,063,475 |
|
|
|
17,214,059 |
|
|
|
|
|
|
|
|
|
|
Receivables
|
|
|
|
|
|
|
|
|
Due from broker |
|
|
80,699 |
|
|
|
6,202 |
|
Participant contributions |
|
|
41,177 |
|
|
|
39,372 |
|
Employer contribution |
|
|
14,852 |
|
|
|
14,568 |
|
|
|
|
|
|
|
|
|
|
|
136,728 |
|
|
|
60,142 |
|
|
|
|
|
|
|
|
|
|
Cash |
|
|
228,979 |
|
|
|
66,331 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
|
19,429,182 |
|
|
|
17,340,532 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Due to broker |
|
|
161,621 |
|
|
|
76,426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
161,621 |
|
|
|
76,426 |
|
|
|
|
|
|
|
|
|
|
Net assets reflecting all investments at fair value |
|
|
19,267,561 |
|
|
|
17,264,106 |
|
|
|
|
|
|
|
|
|
|
Adjustments from fair value to contract value for fully
benefit-responsive contracts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS AVAILABLE FOR BENEFITS |
|
$ |
19,267,561 |
|
|
$ |
17,264,106 |
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
2.
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Year Ended December 31, 2006
|
|
|
|
|
Additions to net assets attributed to: |
|
|
|
|
Investment income |
|
|
|
|
Net appreciation in fair value of investments (Note 4) |
|
$ |
1,131,603 |
|
Interest and dividends |
|
|
875,902 |
|
|
|
|
|
|
|
|
2,007,505 |
|
|
|
|
|
|
Contributions |
|
|
|
|
Employer |
|
|
510,388 |
|
Participant |
|
|
1,368,585 |
|
Rollovers |
|
|
77,036 |
|
|
|
|
|
|
|
|
1,956,009 |
|
|
|
|
|
|
|
|
|
|
Total additions |
|
|
3,963,514 |
|
|
|
|
|
|
Deductions from net assets attributed to: |
|
|
|
|
Benefits paid to participants |
|
|
1,951,483 |
|
Administrative expenses |
|
|
8,576 |
|
|
|
|
|
Total deductions |
|
|
1,960,059 |
|
|
|
|
|
|
|
|
|
|
Net increase |
|
|
2,003,455 |
|
|
|
|
|
|
Net assets available for benefits |
|
|
|
|
Beginning of year |
|
|
17,264,106 |
|
|
|
|
|
|
End of year |
|
$ |
19,267,561 |
|
|
|
|
|
See accompanying notes to financial statements.
3.
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
December 31, 2006 and 2005
NOTE 1 DESCRIPTION OF PLAN
The following description of The Home Savings & Loan Company 401(k) Savings Plan (the Plan) is
provided for general information purposes only. Participants should refer to the Plan document for
a more complete description of the Plans provisions.
General: The Plan was established by The Home Savings & Loan Company (the Company)
effective January 1, 1993. The Plan is subject to the provisions of the Employee Retirement Income
Security Act (ERISA). Employees of the Company are eligible to become a participant in the Plan
upon completion of six months of service and after reaching age 20, if not a member of a union with
which the Company has a collective bargaining agreement, a nonresident alien, a leased employee, a
limited service employee, or a seasonal employee.
Contributions: Participants may authorize up to 100% of their annual pretax compensation,
subject to Internal Revenue Code limitations, to be withheld by the Company through payroll
deductions. The Plan also allows any participant who has attained age 50 by the end of the Plan
year to make catch-up contributions in accordance with Code Section 414(v). The Company may make a
matching contribution based on a percentage of participant contributions, as determined each year
by the Company. For 2006 and 2005, the Company matched 50% of up to the first 6% of the
participant compensation deferred. Additional amounts may be contributed at the option of the
Company and are subject to certain limitations.
Participant Accounts: Each participant account is credited with the participants
contribution, and an allocation of (a) the Companys contributions, (b) net investment earnings,
(c) withdrawals, and (d) forfeitures. Allocations are based on participant earnings or account
balances, as defined. The benefit to which a participant is entitled is the benefit that can be
provided from the participants vested account. Each participant directs the investment of their
account to any of the investment options available under the Plan, including common stock of United
Community Financial Corp., the Companys parent.
Vesting: Participants are immediately vested in their contributions plus actual earnings
thereon. Any employer contributions vest accordingly to the following schedule:
|
|
|
|
|
Years of Service |
|
Vest % |
Less than 1 |
|
|
0 |
% |
1 |
|
|
0 |
% |
2 |
|
|
0 |
% |
3 |
|
|
100 |
% |
(Continued)
4.
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
December 31, 2006 and 2005
NOTE 1 DESCRIPTION OF PLAN (Continued)
Forfeited Accounts: At December 31, 2006 and 2005, forfeited non-vested accounts
totaled $2,502 and $3,961, respectively. These accounts are first used to restore the previously
forfeited account balances of qualifying participants that resume employment with the Company. Any
remaining forfeitures are used to reduce future Company contributions or are reallocated to the
remaining Plan participants. During 2006, forfeitures of $10,482 were used to reduce employer
contributions.
Retirement, Death and Disability: A participant is entitled to 100% of his or her account
balance upon retirement, death or disability.
Payment of Benefits: Participants who have attained age 59-1/2 may elect to withdraw all
or part of their employee deferral account balances. Withdrawals can also be made at any time if
an employee encounters a severe financial hardship. Vested amounts are distributed to participants
upon termination of employment. Participants may receive their distribution in either a lump sum
payment or in installment payments.
Participant Loans: Participants may borrow from their fund accounts up to $50,000 or 50
percent of their vested account balance, whichever is less. The loans are secured by the balance
in the participants account and bear interest at the prime rate plus 1% as of the beginning of the
quarter.
NOTE 2 SUMMARY OF ACCOUNTING POLICIES
Accounting Method: The Plans financial statements are prepared on the accrual basis of
accounting in conformity with U.S. generally accepted accounting principles.
Investment Valuation and Income Recognition: The Plans investments are stated at fair
value. Quoted market prices are used to value shares of mutual funds and common stocks traded on a
national exchange. The fair values of the Plans interest in common collective trust funds are
based upon the net asset values of the funds as reported by the Plan trustee.
Contract value represents contributions made under the contract, plus earnings, less participant
withdrawals and administrative expenses.
Loans to participants are valued at their outstanding balances, which approximates fair value.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded
on the accrual basis. Dividends are recorded on the ex-dividend date.
(Continued)
5.
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
December 31, 2006 and 2005
NOTE 2 SUMMARY OF ACCOUNTING POLICIES (Continued)
Estimates: The preparation of financial statements in conformity with U.S. generally
accepted accounting principles requires the plan administrator to make estimates and assumptions
that affect certain reported amounts and disclosures and actual results could differ from those
estimates. Estimates of investment valuation are particularly subject to change in the near term.
Payment of Benefits: Benefits are recorded when paid.
Risk and Uncertainties: The Plan provides for various investment options including any
combination of certain mutual funds, a common collective fund, a money market fund and common stock
of the parent of the Company (United Community Financial Corp.). The underlying investment
securities are exposed to various risks, such as interest rate, market and credit risks. Due to
the level of risk associated with certain investment securities, it is at least reasonably possible
that changes in the values of investment securities will occur in the near term and that such
changes could materially affect the amounts reported in the statement of net assets available for
benefits and participants individual account balances.
Concentration of Credit Risk: At December 31, 2006 and 2005, approximately 28% and 33%,
respectively, of the Plans assets were invested in United Community Financial Corp. common stock.
Adoption of New Accounting Standard: The Plan retroactively adopted Financial Accounting
Standards Board (FASB) Staff Position AAG INV-1 and SOP 94-4-1, Reporting of Fully
Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA
Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (the FSP)
in 2006. Pursuant to the adoption of the FSP, fully benefit-responsive investment contracts
included in the underlying investments of common collective trust funds in which the Plan holds an
interest are to be presented at fair value. In addition, any material difference between the fair
value of these investments and their contract value is to be presented as a separate adjustment
line in the statement of net assets available for benefits. Adoption of the FSP had no effect on
the Plans 2005 financial statements, as the Plan held no direct or indirect interests in fully
benefit-responsive investments contracts as of December 31, 2005.
Management has determined that the estimated fair value of the Plans indirect investments in fully
benefit-responsive contracts as of December 31, 2006 approximates contract value. Accordingly, the statements of net assets available for benefits reflect no adjustment for the
difference between net assets reflecting all investments at fair value and net assets available for
benefits.
(Continued)
6.
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
December 31, 2006 and 2005
NOTE 3 RIGHTS UPON PLAN TERMINATION
Although it has not expressed any intention to do so, the Company has the right under the Plan to
discontinue its contributions at any time and to terminate the Plan subject to the provisions of
ERISA. In the event of plan termination, participants would become 100% vested in their accounts.
NOTE 4 INVESTMENTS
The following presents investments that represent 5% or more of the Plans net assets.
|
|
|
|
|
|
|
|
|
|
|
December 31, 2006 |
|
|
Units or Shares |
|
Fair Value |
|
|
|
|
|
|
|
|
|
United Community Financial Corp. common stock |
|
|
437,620 |
|
|
$ |
5,356,469 |
|
Registered Investment Companies |
|
|
|
|
|
|
|
|
American Investment Company of America Fund |
|
|
34,084 |
|
|
|
1,142,155 |
|
American Fundamental Investors Fund |
|
|
29,755 |
|
|
|
1,191,705 |
|
Victory Diversified Stock Fund |
|
|
65,361 |
|
|
|
1,179,763 |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2005 |
|
|
Units or Shares |
|
Fair Value |
|
|
|
|
|
|
|
|
|
United Community Financial Corp. common stock |
|
|
485,444 |
|
|
$ |
5,733,094 |
|
Registered Investment Companies |
|
|
|
|
|
|
|
|
American Investment Company of America Fund |
|
|
31,516 |
|
|
|
988,350 |
|
American Fundamental Investors Fund |
|
|
28,445 |
|
|
|
1,006,969 |
|
Victory Diversified Stock Fund |
|
|
61,336 |
|
|
|
1,039,037 |
|
During 2006, the Plans investments (including gains and losses on investments bought and sold, as
well as held during the year) appreciated/(depreciated) in value as follows:
|
|
|
|
|
Shares of common collective fund |
|
$ |
116 |
|
Shares of registered investment companies |
|
|
890,837 |
|
United Community Financial Corp. common stock |
|
|
240,650 |
|
|
|
|
|
|
|
$ |
1,131,603 |
|
|
|
|
|
(Continued)
7.
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
December 31, 2006 and 2005
NOTE 5 PARTY-IN-INTEREST TRANSACTIONS
Parties-in-interest are defined under Department of Labor regulations as any fiduciary of the Plan,
any party rendering services to the Plan, the employer and certain others. Most administrative
expenses of the Plan are paid for by the Company. During 2006, the Plan paid fees of $8,576 to
Invesmart for administrative services. Approximately $161,671 of cash dividends were paid to the
Plan by United Community Financial Corp. during 2006 based on shares held by the Plan on the dates
of declaration. United Community Financial Corp. is the parent of the plan sponsor.
At year-end, the Plan held the following party-in-interest investments (at fair value):
|
|
|
|
|
|
|
|
|
|
|
2006 |
|
2005 |
|
|
|
|
|
|
|
|
|
United Community Financial Corp. common stock |
|
$ |
5,356,469 |
|
|
$ |
5,733,094 |
|
Loans to plan participants |
|
|
471,466 |
|
|
|
341,257 |
|
Reliance Trust Company MetLife Stable Value Fund |
|
|
43,530 |
|
|
|
|
|
NOTE 6 TERMINATED PARTICIPANTS
Included in net assets available for benefits are amounts allocated to individuals who have
elected to withdraw from the Plan, but who have not yet been paid. Plan assets allocated to these
participants were $194,813 and $54,750 at December 31, 2006 and 2005, respectively.
NOTE 7 TAX STATUS
The Internal Revenue Service has determined and informed the Company by letter dated February 14,
2005, that the Plan is designed in accordance with applicable sections of the Internal Revenue Code
(IRC). Although the Plan has been amended since receiving this determination letter, the Plan
administrator believes that the Plan is designed and is currently being operated in compliance with
the applicable requirements of the IRC.
8.
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
SCHEDULE H, LINE 4I SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2006
Name of Plan Sponsor: The Home Savings & Loan Company
Employer identification number: 34-0296160
Three digit plan number: 001
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) |
|
(c) |
|
|
|
|
|
|
|
Identity of Issue, |
|
Description of Investment Including |
|
|
|
(e) |
|
|
|
Borrower, Lessor |
|
Maturity Date, Rate of Interest, |
|
(d) |
|
Current |
|
(a) |
|
or Similar Party |
|
Collateral, Par or Maturity Value |
|
Cost |
|
Value |
|
|
|
|
|
|
Common stock |
|
|
|
|
|
|
* |
|
United Community Financial Corp. |
|
Common stock, 437,620 shares |
|
** |
|
$ |
5,356,469 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,356,469 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares of registered investment companies |
|
|
|
|
|
|
|
|
Pioneer Investments |
|
Pioneer Mid-cap Value Fund, 15,620 shares |
|
** |
|
|
355,658 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Victory Funds |
|
Victory Diversified Stock Fund, 65,361 shares |
|
** |
|
|
1,179,763 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AIM Investments |
|
AIM International Growth Fund, 20,506 shares |
|
** |
|
|
610,064 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alliance Capital Management |
|
Alliance Bernstein Fund, 40,548 shares |
|
** |
|
|
728,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alliance Capital Management |
|
Alliance Technology Fund, 3,631 shares |
|
** |
|
|
234,906 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Funds |
|
American Balanced Fund, 37,736 shares |
|
** |
|
|
717,738 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Funds |
|
The Bond Fund of America, 21,973 shares |
|
** |
|
|
292,674 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Davis Funds |
|
Davis New York Venture Fund, 23,315 shares |
|
** |
|
|
898,089 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Funds |
|
EuroPacific Growth Fund, 12,236 shares |
|
** |
|
|
569,703 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Funds |
|
Fundamental Investors Fund, 29,755 shares |
|
** |
|
|
1,191,705 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Funds |
|
The Growth Fund of America, 735,734 shares |
|
** |
|
|
861,057 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Funds |
|
The Investment Company of America Fund, 34,084 shares |
|
** |
|
|
1,142,155 |
|
|
|
|
* |
|
- Denotes party-in-interest |
|
** |
|
- All investments are participant directed, therefore, historical cost information is not
required. |
(Continued)
9.
THE HOME SAVINGS & LOAN COMPANY
401(k) SAVINGS PLAN
SCHEDULE H, LINE 4I SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2006
Name of Plan Sponsor: The Home Savings & Loan Company
Employer identification number: 34-0296160
Three digit plan number: 001
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) |
|
(c) |
|
|
|
|
|
|
|
Identity of Issue, |
Description of Investment Including |
|
|
(e) |
|
|
|
Borrower, Lessor |
Maturity Date, Rate of Interest, |
(d) |
|
Current |
|
(a) |
|
or Similar Party |
|
Collateral, Par or Maturity Value |
|
Cost |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Funds |
|
American Funds Company Class A Fund, 9,761 shares |
|
** |
|
$ |
381,347 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MFS Investment Management |
|
MFS Total Return Fund, 45,659 shares |
|
** |
|
|
738,755 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Franklin Templeton Investments |
|
Franklin Small Mid Cap Growth Fund, 8,713 shares |
|
** |
|
|
329,072 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Franklin Templeton Investments |
|
Franklin U.S. Government Securities Fund, 44,777 shares |
|
** |
|
|
287,917 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Funds |
|
AMCAP Fund, 41,584 shares |
|
** |
|
|
832,512 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Seligman |
|
Seligman Communications & Information Fund, 7,708 shares |
|
** |
|
|
256,229 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Franklin Templeton Investments |
|
Templeton Foreign Fund, 40,928 shares |
|
** |
|
|
558,253 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pimco Advisors |
|
Pimco Low Duration Fund, 26,991 shares |
|
** |
|
|
293,943 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federated Funds |
|
Federated Government Obligations Fund, 726,248 shares |
|
** |
|
|
726,248 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,186,439 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares of common collective funds |
|
|
|
|
|
|
* |
|
Reliance Trust Company |
|
MetLife Stable Value Fund, 3,060 shares |
|
** |
|
|
43,530 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
43,530 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares of money market funds |
|
|
|
|
|
|
|
|
AIM Investments |
|
AIM Money Market Cash Reserves Fund, 5,571 shares |
|
** |
|
|
5,571 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,571 |
|
|
|
|
|
|
|
|
|
|
|
|
* |
|
Participant loans |
|
Participant loans with interest rates ranging from 5% - 8% |
|
|
|
|
471,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
19,063,475 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
|
- Denotes party-in-interest |
|
** |
|
- All investments are participant directed, therefore, historical cost information is not
required. |
10.
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or
other persons who administer the employee benefit plan) have duly caused this annual report to be
signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
|
THE HOME SAVINGS AND LOAN COMPANY 401(k) SAVINGS PLAN
|
|
|
By: |
The Home Savings and Loan Company of Youngstown, Ohio
|
|
|
|
|
|
|
|
Its: Administrator |
|
|
|
|
|
Date: June 28, 2007 |
|
/s/ Patrick W. Bevack
|
|
|
|
Patrick W. Bevack, President and COO |
|
|
|
|
|
THE HOME SAVINGS AND LOAN COMPANY
401(k) SAVINGS PLAN
ANNUAL REPORT ON FORM 11-K
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2006
INDEX TO EXHIBITS
|
|
|
Exhibit No. |
|
Description |
23.1
|
|
Consent of Crowe Chizek and Company LLC
Independent Auditors |