Prudential Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2013. For the quarter, the company reported net income of $338,000 or $0.04 per basic and diluted share compared to net income of $272,000 or $0.03 per basic and diluted share a year ago. Total interest income was $4,069,000 compared to $4,397,000 a year ago.

Net interest income was $3,164,000 compared to $3,177,000 a year ago. Net interest income after provision for loan losses was $3,164,000 compared to $3,177,000 a year ago. Income before income taxes was $522,000 compared to $623,000 a year ago.

Return on average assets was 0.25% compared to 0.22% a year ago. Return on average equity was 1.09% compared to 1.81% a year ago. The improved profitability for the three months ended December 31, 2013 reflected a return to a more normalized effective tax rate than experienced in the first quarter of fiscal 2013.

Interest income declined $328,000 or 7.5% substantially offset by a $315,000 or 25.8% decrease in interest paid on deposits and borrowings. The decrease in interest income resulted from a 63 basis point decrease to 3.11% in the weighted average yield earned on interest-earning assets partially offset by a $49,000,000 or 10.4% increase to $519,100,000 in the average balance of interest-earning assets for the three months ended December 31, 2013, as compared to the same period in fiscal 2013.