Perpetual announces second quarter operating results


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Perpetual Federal Savings Bank of Urbana (OTC Pink: “PFOH”) reported fiscal second quarter net income of $1.3 million, or basic and diluted earnings per share of 52 cents, for the quarter ended March 31, 2016, compared to net income of $1.3 million, or basic and diluted earnings per share of 52 cents for the quarter ended March 31, 2015. For the six months ended March 31, 2016, the Savings Bank reported $2.5 million of net income, or $1 per share of basic and diluted earnings, compared to $2.5 million of net income, or $1.01 per share of basic and diluted earnings for the six months ended March 31, 2015.

Total assets increased $20.7 million, or 5.9 percent, to $373.4 million at March 31, 2016, from $352.7 million at September 30, 2015. Total shareholders’ equity increased $1.5 million, or 2.3 percent, from $64.3 million at September 30, 2015, to $65.7 million at March 31, 2016, due to net income less dividends paid. The Savings 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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