Urbana bank reports second quarter earnings are up

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This is compared to net income of $1.56 million, or earnings per share of $0.63 for the quarter that ended on March 31, 2018.

For the six months that end on March 31 of this year, the bank reported $3.19 million of net income, or $1.29 per share of earnings, compared to $2.89 million of net income, or $1.17 per share of earnings for the six months that ended on March 31 of 2018.

The bank’s total assets decreased to $392.0 million as of March 31, 2019. Shareholder equity increased to $74.6 million as of March 31, 2019, due to net income less dividends paid.

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“The Savings Bank’s capital ratios remain in excess of those required to be considered well-capitalized under U.S. banking regulations,” according to a news release from the bak.

Perpetual Federal Savings Bank is located at 120 N. Main St. in Urbana.