Article: Calumet Bancorp Announces First Quarter Earnings

DOLTON, Ill., April 20 /PRNewswire/ -- Calumet Bancorp, Inc. (Nasdaq: CBCI), today reported net income of $4.0 million for the first quarter of 1998, compared to $1.8 million net income for the first quarter of 1997. Basic earnings per share (BEPS) of common stock for the first quarter of 1998 increased to $1.27, compared to $0.52 for the first quarter of 1997, and diluted earnings per share (DEPS) increased to $1.17, compared to $0.48, for the same periods. The primary reason for the increase was the sale of a limited partnership investment property at a gain of $3.6 million, which resulted in after tax net income of $2.3 million, or BEPS of $0.74 and DEPS of $0.69.

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