Cortland Bancorp reported unaudited earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported interest income was $6,129,000 against $5,762,000 a year ago. Net interest income was $5,281,000 against $4,998,000 a year ago. Income before tax was $1,625,000 against $1,414,000 a year ago. Net income was $21,000 or $0.01 per basic and diluted share against $1,141,000 or $0.26 per basic and diluted share a year ago. Return on average equity was 0.13% against 7.69% a year ago. Return on average assets was 0.01% against 0.73% a year ago.

For the year, the company reported interest income was $23,492,000 against $22,555,000 a year ago. Net interest income was $20,302,000 against $19,637,000 a year ago. Income before tax was $6,767,000 against $5,998,000 a year ago. Net income was $4,350,000 or $0.99 per basic and diluted share against $4,871,000 or $1.11 per basic and diluted share a year ago. Return on average equity was 7.25% against 8.27% a year ago. Return on average assets was 0.68% against 0.80% a year ago.

For the fourth quarter ended December 31, 2017, the company reported net charge-offs of $199,000 against $47,000 a year ago.