People's United Financial, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, net interest income (fully taxable equivalent) was $255.2 million against $245.3 million a year ago. Net interest income was $246.8 million against $238.8 million a year ago. Income before income tax expense was $106.1 million against $105.4 a year ago. Net income available to common shareholders was $74.1 million against $70.8 million a year ago. Return on average assets was $0.75% against $0.75% a year ago. Return on average common equity was $6.1% against $6.0% a year ago. Return on average tangible common equity was $10.7% against $10.7% a year ago. Basic and diluted earnings per common share were $0.24 against $0.23 a year ago. Book value per share (end of period) was $15.85 against $15.62 a year ago. Tangible book value per share (end of period) was $8.92 against $8.73 a year ago.

For the full year, net interest income (fully taxable equivalent) was $1,004.5 million against $957.3 million a year ago. Net interest income was $972.2 million against $932.1 million a year ago. Income before income tax expense was $409.5 million against $390.5 million a year ago. Net income was $281.0 million against $260.1 million a year ago. Net income available to common shareholders was $279.2 million against $260.1 million a year ago. Return on average assets was 0.71% against 0.71% a year ago. Return on average common equity was 5.8% against $5.5% a year ago. Return on average tangible common equity was 10.2% against $10.0% a year ago. Basic and diluted earnings per common share were $0.92 against $0.86 a year ago. Book value per share (end of period) was $15.85 against $15.62 a year ago. Tangible book value per share (end of period) was $8.92 against $8.73 a year ago.

Net loan charge-offs as a percentage of average total loans on an annualized basis were 0.06% in the fourth quarter of 2016, a slight increase from 0.04% in the third quarter of 2016, but lower than 0.09% in the fourth quarter of 2015.