Perpetual Federal Savings Bank announces third quarter operating results


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Perpetual Federal Savings Bank of Urbana reported Wednesday fiscal third quarter net income of $1.3 million, or basic and diluted earnings per share of $0.53, for the quarter ended June 30, 2016, compared to net income of $1.2 million, or basic and diluted earnings per share of $0.49, for the quarter ended June 30, 2015.

For the nine months ended June 30, 2016, the bank reported $3.8 million of net income, or $1.54 per share of basic and diluted earnings, compared to $3.7 million of net income, or $1.50 per share of basic and diluted earnings, for the nine months ended June 30, 2015.

Total assets increased $34.7 million, or 9.8 percent, to $387.4 million at June 30, 2016, from $352.7 million at Sept. 30, 2015. Total shareholders’ equity increased $2.3 million, or 3.6 percent, from $64.3 million at Sept. 30, 2015, to $66.5 million at June 30, 2016, due to net income less dividends paid. The bank’s capital ratios remain in excess of those required to be considered well-capitalized under U.S. banking regulations.

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Submitted by Perpetual Federal Savings Bank.

Submitted by Perpetual Federal Savings Bank.

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