Stewardship Financial Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018
Stewardship Financial Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported interest income of $8,539,000 against $7,424,000 a year ago. Net interest income was $6,823,000 against $6,180,000 a year ago. Net interest income after provision for loan losses was $7,158,000 against $5,880,000 a year ago. Income before income tax expense was $2,455,000 against $1,565,000 a year ago. Net income was $1,808,000 against $991,000 a year ago. Diluted earnings per common share were $0.21 against $0.16 a year ago. Return on average common equity was 9.92% against 7.71% a year ago. Return on average assets was 0.80% against 0.49% a year ago. Book value per share was $8.57 compared to $8.55 a year ago.