Prudential Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2015. For the quarter, the company's total interest income was $4,056,000 against $4,249,000 a year ago. Net interest income was $3,256,000 against $3,339,000 a year ago.

Income before income taxes was $634,000 against $688,000 a year ago. Net income was $413,000, or $0.05 per basic and diluted share as compared to $471,000 or $0.05 per basic and diluted share a year ago. Book value per share as at December 31, 2015 was $13.81 compared to $13.66 as on Dec.

31, 2014. Return on average assets was 0.33% against 0.36% a year ago. Return on average equity was 1.41% against 1.47% a year ago.

The modestly higher net income was primarily due to recording a $138,000 gain on the sale of a SBA loan, partially offset by a $75,000 provision during the three month period ended December 31, 2014, both of which were not applicable to the 2015 period. Net interest income after provision for loan losses was $3,256,000 against $3,264,000 a year ago. Net interest income decreased $83,000.

The decrease reflected an $184,000 or 4.3% decrease in interest income, partially offset by a $101,000 or 11.2% decrease in interest paid on deposits and borrowings. The decrease in net interest income in the first quarter of fiscal 2016 resulted primarily from a decrease of $25.9 million in the average balance of interest-earning assets from the comparable period in fiscal 2015 partially offset by an increase of three basis points in the weighted average yield on interest-earning assets during the quarter ended December 31, 2015.