PHILADELPHIA, Nov. 17, 2010 (GLOBE NEWSWIRE) -- Prudential Bancorp, Inc. of Pennsylvania (the "Company") (Nasdaq:PBIP), the "mid-tier" holding company for Prudential Savings Bank (the "Bank"), today reported net income of $323,000, or $0.03 per diluted share, for the quarter ended September 30, 2010 as compared to a net income of $441,000, or $0.04 per diluted share, for the same period in 2009. For the fiscal year ended September 30, 2010, the Company recognized net income of $3.1 million, or $0.32 per diluted share, compared to a net loss of $826,000, or $0.08 per diluted share, for fiscal 2009. The improved results of operations reported for the year ended September 30, 2010 were primarily due to the reduction in 2010 in the amount of non-cash other-than-temporary impairment ("OTTI") charges related to certain of the non-agency mortgage-backed securities received as a result of the previously reported redemption in kind effected during the third quarter of fiscal 2008 of the Company's entire investment in a mutual fund.
Prudential Bancorp, Inc. Of Pennsylvania Announces Fourth Quarter And Fiscal Year Results
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