Cortland Bancorp reported unaudited earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, interest income was $5,762,000 against $5,395,000 a year ago. Net interest income was $4,998,000 against $4,716,000 a year ago. Income before tax was $1,414,000 against $1,409,000 a year ago. Net income was $1,141,000 against $1,086,000 a year ago. Earnings per basic and diluted share were $0.26 against $0.24 a year ago. Book value per share as at December 31, 2016 was $13.05 against $12.87 a year ago. Return on average equity was 7.69% against 7.61% a year ago. Return on average assets was 0.73% against 0.75% a year ago.

For the year, interest income was $22,555,000 against $21,113,000 a year ago. Net interest income was $19,637,000 against $18,506,000 a year ago. Income before tax was $5,998,000 against $5,597,000 a year ago. Net income was $4,871,000 against $4,378,000 a year ago. Earnings per basic and diluted share were $1.11 against $0.97 a year ago. Return on average equity was 8.27% against 7.73% a year ago. Return on average assets was 0.80% against 0.77% a year ago.

For the quarter, net charge-offs were $47,000 against $47,000 a year ago.