Dr. Steven R. Bohl, Chairman of the Board of Perpetual Federal Savings Bank, announced the election of a new member to the institution’s Board of Directors at its annual meeting held Wednesday, Jan. 25.

Joining Perpetual’s Board will be Scott A. Fannin, owner of the Willman Furniture Company in downtown Urbana for the past 20 years. He has been affiliated with the local business over 28 years. He also is a partner in Fannin Investments, a small real estate investment business in Urbana.

Fannin is a lifelong resident of Urbana and a 1986 graduate of Urbana High School. He and his wife, Julie, have two children, Caitlin, currently attending Bowling Green State University, and Adam, a freshman at Urbana High School.

Fannin received an Associate Degree in Electronic Engineering in 1988. He has served as both Treasurer and Vice President of the Monument Square District and is a member of the Champaign County Chamber of Commerce.

Also re-elected to the bank’s board at this meeting were David P. Vernon and Charles L. Sweeting.

The bank’s Vice President, Mary Heaston, also received the bank’s service award for 25 years of continuous service and was recognized for 36 years of total service.

Michael R. Melvin, President, reported to the shareholders the results of the fiscal year ending Sept. 30, 2016.

The bank reported net income for the year at $4.9 million, assets of $387 million and shareholders’ equity of $67 million.