Oritani Financial Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2013
For the six months, the company reported total interest income was $64,275,000 compared to $63,429,000 for the same period a year ago. Net interest income before provision for loan losses was $48,905,000 compared to $48,261,000 for the same period a year ago. Net interest income after provision for loan losses was $48,405,000 compared to $45,261,000 for the same period a year ago. Income before income tax expense was $31,886,000 compared to $28,634,000 for the same period a year ago. Net income was $20,357,000 compared to $17,957,000 for the same period a year ago. Income per diluted common share was $0.47 compared to $0.42 for the same period a year ago. The primary cause of the increased income in the 2013 periods was a decrease in the provision for loan losses and increased other income.