Standard Financial Corp. announced unaudited earnings for the first quarter ended December 31, 2016. For the quarter, the company reported net income of $0.6 million or $0.23 per basic and diluted share compared to $0.9 million or $0.33 per diluted share a year ago. Income before income tax expense was $0.953 million against $1.24 million a year ago. Book value per share was $28.00 against $28.24 a year ago. Tangible book value per share was $24.64 against $24.85 a year ago. Net income for the first quarter was significantly impacted by merger related expenses of $307,000 ($288,000 after tax) in connection with the pending merger with Allegheny Valley Bancorp Inc.  Excluding the after tax impact of the merger related expenses, net income would have been $847,000 or $0.35 per share for the quarter ended December 31, 2016 compared to $866,000 or $0.34 per share for the quarter ended December 31, 2015.  The company's annualized return on average assets and average equity were 0.46% and 3.06%, respectively, (0.69% and 4.64%, respectively, excluding the merger related expenses) for the quarter ended December 31, 2016 compared to 0.74% and 4.63%, respectively, for the quarter ended December 31, 2015. Net interest income was $3.2 million for the three months ended December 31, 2016 and 2015, respectively. A higher average balance of loans was slightly offset by a decrease in the yield on assets.