Perpetual Federal Savings Bank announced unaudited consolidated earnings results for the first quarter ended December 31, 2013. For the quarter, the company reported total interest income of $3,910,000 compared to $4,196,000 a year ago. Net interest income was $2,883,000 compared to $2,919,000 a year ago.

Income before income taxes was $1,737,000 compared to $1,453,000 a year ago. Net income was $1,150,000 or $0.47 per basic and diluted share compared to $962,000 or $0.39 per basic and diluted share a year ago. The factor primarily responsible for the changes in net income for the comparative three month period is decreased operating expenses during the quarter ended December 31, 2013.