Dime Community Bancshares Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total interest income of $44,885,000 compared to $43,971,000 a year ago. Net interest income was $33,586,000 compared to $31,728,000 a year ago. Net interest income after provision for loan losses was $34,025,000 compared to $32,250,000 a year ago. Income before taxes was $19,625,000 compared to $19,615,000 a year ago. Net income was $11,384,000 or $0.31 per basic and diluted share compared to $11,987,000 or $0.33 per basic and diluted share a year ago. Return on average assets was 0.93% against 1.09% a year ago. Return on average stockholders' equity was 9.32% against 10.45% a year ago. Return on average tangible stockholders' equity was 10.30% against 11.74% a year ago. Stated book value per share was $13.22 against $12.47 per share a year ago. Tangible book value per share was $11.96 against $11.20 per share a year ago. The growth in interest income was attributable to $339.5 million of additional interest earning assets during 2015 compared to 2014, which more than offset a reduction of 28 basis points in their average yield year-over-year. 

For the year, the company reported total interest income of $174,791,000 compared to $172,952,000 a year ago. Net interest income was $128,564,000 compared to $124,536,000 a year ago. Net interest income after provision for loan losses was $129,894,000 compared to $126,408,000 a year ago. Income before taxes was $76,017,000 compared to $74,370,000 a year ago. Net income was $44,772,000 or $1.23 per diluted share compared to $44,246,000 or $1.23 per basic and diluted share a year ago. Return on average assets was 0.96% against 1.03% a year ago. Return on average stockholders' equity was 9.40% against 9.83% a year ago. Return on average tangible stockholders' equity was 10.42% against 11.13% a year ago.

For the quarter, the company reported net charge-offs of $6,000 against $83,000 a year ago.

For the first quarter ending March 31, 2016, the company projected that the consolidated effective tax rate will approximate 40.0%.