Perpetual announces fourth quarter operating results


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On Oct. 28, 2016, Perpetual Federal Savings Bank of Urbana (OTC Pink: “PFOH”) reported fiscal fourth quarter net income of $1.2 million, or basic and diluted earnings per share of 48 cents, for the quarter ended September 30, 2016, compared to net income of $1.3 million, or basic and diluted earnings per share of 52 cents for the quarter ended Sept. 30, 2015. For the twelve months ended Sept. 30, 2016, the Savings Bank reported $5.0 million of net income, or $2.01 per share of basic and diluted earnings, which was relatively unchanged compared to $5.0 million of net income, or $2.03 per share of basic and diluted earnings for the 12 months ended September 30, 2015.

Total assets increased $34.2 million, or 9.7 percent, to $386.9 million at September 30, 2016, from $352.7 million at September 30, 2015. Total shareholders’ equity increased $2.9 million, or 4.6 percent, from $64.3 million at September 30, 2015, to $67.2 million at September 30, 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.