CHICAGO - St. Paul Bancorp Inc. reported a record $9.7 million in net income, or 78 cents a share, for the three months ended June 30.

The parent of St. Paul Federal Bank for Savings, Chicago's second-largest thrift, increased income by 49%, from the $6.5 million or 53 cents a share reported for the 1991 quarter.

Net income for the first six months of 1992 was $19 million, or $1.53 a share, 37% more than the $13.9 million ($1.14 per share) reported a year ago.

Joseph C. Scully, chairman and chief executive, attributed the growth to continued widening of interest spreads and significant increases in fee income.

Return on assets was 1.08% in the quarter, and return on equity 14.61%. The company said it exceeded all capital requirements by wide margins.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.