Images always saving as JPG
 

I have my attachments set to maximum 700px. So whenever a larger image is uploaded, it uses ImageMagick to create a smaller version.

However, I have found that no matter which file type is used (PNG, JPG, GIF), it is always saved as JPG. Furthermore, it seems to be ignoring the thumbnails quality setting.

This occurs with both GD and ImageMagick

Thanks