Sterling Bancorp announced earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company’s net income totaled $6.5 million, or $0.13 per diluted share, based on 49.0 million weighted average diluted shares outstanding, and included a $3.3 million, or $0.07 per diluted share, tax expense related to a revaluation of the company's net deferred tax assets as a result of the decrease in the federal corporate tax rate. This compares to third quarter 2017 net income of $12.1 million, or $0.27 per diluted share, based on 45.3 million weighted average diluted shares outstanding. For the fourth quarter of 2016, net income totaled $6.1 million, or $0.14 per diluted share, based on 45.3 million weighted average diluted shares outstanding. Net interest income was $26.9 million, an increase of 5.6% from $25.5 million for the third quarter of 2017. The increase in net interest income from the third quarter was primarily attributable to a $194 million increase in average interest earning assets, partially offset by the effects of a 7 basis point decrease in the net interest margin. The increase in net interest income from the fourth quarter of 2016 was primarily attributable to a $683 million increase in average interest earning assets, partially offset by the effects of a 4 basis point decrease in the net interest margin. For the full year, net income increased to $38.0 million, or $0.82 per diluted share, based on 46.2 million weighted average diluted shares outstanding, and included a $3.3 million, or $0.07 per diluted share, tax expense related to the revaluation of the company's net deferred tax assets. This compares with 2016 net income of $33.2 million, or $0.73 per diluted share, based on 45.3 million weighted average diluted shares outstanding.