CHICAGO -- Southwest Bancshares, the $343 million-asset parent of Southwest Federal Savings and Loan Association of Chicago, announced net income for the quarter ended Sept. 30 of $1.5 million, about what it earned for the same time last year.

For the nine months ended Sept. 30, net income was $4.5 million, a 4.3% decrease from $4.7 million a year ago. Primary earnings per share for the third quarter were 58 cents, up from 55 cents for the comparable quarter in 1993.

Net interest income decreased 4.72% to $3.6 million for the third quarter from $3.8 million in third-quarter 1993. Southwest's net interest margin was 4.49% for the third quarter, down 12.65% from 5.14% for third-quarter 1993. Return on assets was 1.72% and return on equity was 11.65%.

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