Dime Community Bancshares Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total interest income of $55,033,000 against $51,455,000 last year. Net interest income was $38,015,000 against $37,487,000 last year. Income before taxes was $19,332,000 against $18,046,000 last year. Net income was $14,745,000 or $0.39 per diluted share, compared to $11,157,000 or $0.30 per diluted share a year ago. Adjusted net income was $13,723,000 or $0.36 per diluted share, compared to $11,157,000 or $0.30 per diluted share, for the quarter ended March 31, 2017. Return on average assets was 0.93% compared to 0.74% a year ago. Return on average stockholders' equity was 9.77% compared to 7.83% a year ago. Stated book value per share was $16.22 compared to $15.26 a year ago. Adjusted return on average assets was 0.86% compared to 0.74% a year ago. Adjusted return on average stockholders' equity was 9.09% compared to 7.83% a year ago. Adjusted return on average tangible stockholders' equity was 10.02% compared to 8.68% a year ago. Tangible book value per share was $14.73 against of $13.78 a year ago. Return on average tangible common equity was 10.76% against of 8.68% a year ago.

For the quarter, the company reported net charge-offs of $23,000.

For the fiscal year 2018, effective tax rate is expected to be between 24% and 25%.