Perpetual Federal Savings Bank of Urbana releases quarterly earnings

The Perpetual Federal Savings Bank of Urbana reported a net income of $1.5 million in the quarter ending June 3o.

The bank reported a basic and diluted earnings per share of $0.61, according to a press release from the bank on Wednesday. That number was $0.62 and the bank reported a net income of $1.53 million during the same quarter last year.

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The savings bank reported a net income of $4.69 million, or $1.79 per share of basic and diluted earnings during a nine month period that ended in June. That is an increase from the $4.42 million reported during the same time frame last year.

The bank’s total assets decreased to $391.3 million on June 30, according to Wednesday’s press release. However, its total shareholders’ equity increased to $74.9 million due to net income less dividends paid.

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Officials with the bank say their capital ratios remain in excess of those required to be considered well-capitalized under the U.S. banking regulations.