Empire Bancorp, Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2018; Reports Net Charge-Offs for the Second Quarter Ended June 30, 2018
For the six months, the company reported interest income of $16,592,000 against $14,434,000 a year ago. Net interest income was $12,439,000 against $12,448,000 a year ago. Net interest income after provision for loan losses was $12,212,000 against $12,178,000 a year ago. Income before income taxes was $1,802,000 against $2,968,000 a year ago. Net income was $1,520,000 or $0.20 per diluted share against $1,942,000 or $0.27 per basic and diluted share a year ago. Return on average assets was 0.32% against 0.48% a year ago. Return on average equity was 4.69% against 6.02% a year ago. Book value per share was $9.26 against $9.59 a year ago.
In the second quarter of 2018, the company recorded a charge off of $78,000 as compared to a charge off of $11,000 in the first quarter of 2018, and a charge off for $264,000 recorded in the second quarter of 2017.