Dr. Steven R. Bohl, chairman of the Board of Perpetual Federal Savings Bank, announced the election of an additional board member to the institution’s board of directors at its annual meeting on Jan. 22.

Joining Perpetual’s board is Christine Anne Phelps, who currently is the company’s executive vice president and corporate secretary. She joined the Perpetual staff in January, 1975, and has served the bank in numerous capacities including vice president and senior vice president.

Over the years, Phelps has been involved in numerous civic activities in Urbana and the surrounding areas. She is a director on the board of the Champaign Family YMCA and is an active member of the Woodstock Lions Club.

Re-elected to the board this year were David P. Vernon, co-owner of Vernon Family Funeral Homes, and Scott A. Fannin, owner of Willman Furniture Company.

Eric Warrick, a seven-year employee of Perpetual, was named an officer of the bank as assistant treasurer and will continue his duties overseeing the internal audit and compliance functions of the bank.

This year’s annual report to shareholders reported a net worth position of the bank at $75.7 million and assets of $391.6 million. Total dividends of $1.21 per share totaling $2.9 million was returned to shareholders.

The bank continued to be rated a 5-Star bank by Bauer Financial Services.