Empire Bancorp Inc. (NY) reported un-audited earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net income was $361,000, or $0.08 per diluted share compared to $376,000 or $0.09 per diluted share, for the fourth quarter of 2012, representing a decrease of $15,000, or $0.01 per share. Earnings before income taxes increased $235,000, or 61.5%, to $617,000, as compared to $382,000 for the fourth quarter of 2012. Net interest income was $3,809,000 increased $512,000, or 15.5%, over the $3,297,000 reported in fourth quarter of 2012, reflecting the impact of the growth in the Company's average loan and securities portfolio. The company reported interest income of $4,259,000 compared to $3,769,000 for the last year. Return on average assets was 0.31% compared to 0.35% and return on average equity was 3.76% compared to 3.53% for the last year.

For the year, the company reported net income of $1.3 million or $0.29 per diluted share, compared to $3.6 million or $0.83 per diluted share for the year ended December 31, 2012, a decrease of $2.3 million. This reduction in net income was largely attributable to the impact of sales of investment securities, as well as an increase in income tax expense for the fiscal year ended December 31, 2013 as the Company became fully taxable. For the year ended December 31, 2013, the company's net interest income was approximately $14.4 million, an increase of $1.0 million, or 7.5% from $13.4 million, which was attributable to the growth in average volume of loans, partially offset by decreased average loan yields. The company reported interest income of $16.2 million compared to $15.7 million and income before income taxes of $2.3 million compared to $2.6 million for the last year. Book value per share as on December 31, 2013 was $8.78 compared to $9.64 as on December 31, 2012. Return on average assets was 0.30% compared to 0.90% and return on average equity was 9.10% compared to 8.90% for the last year.