WEBSTER CITY — WCF Bancorp, Inc., the parent holding company of WCF Financial Bank, of Webster City, has announced its results of operations for the nine months ended Sept. 30, 2019 and 2018.

The company’s approximate net income for the nine months ended Sept. 30, 2019 was $188,00 compared to an approximate net income of $307,000 for the same period in 2018.

Core earnings before tax in the same period, subtracting out a one-time asset sale in 2018 of $425,818 and in 2019 of $107,875, were actually higher in the same period for the first nine months of 2019 by $7,963.

Earnings improved slightly and can be attributable to a 7.9% increase in fees and service charge income and a 7.3% decrease in non-internet expense.

Fees and service charge income improvement was primarily due to increases in fees that went into effect on Jan. 1, 2019.

Non-interest expense improved due to overall cost cutting efforts.