Stewardship Financial Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016
Stewardship Financial Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported net interest and dividend income of $5,276,000 against $5,401,000 a year ago. Income before income tax expense was $1,543,000 against $1,370,000 a year ago. Net income available to common shareholders was $991,000 or $0.16 diluted per common share against $746,000 or $0.12 diluted per common share a year ago. Return on average common equity as on March 31, 2016 was 8.21% against 6.77% as at March 31, 2015. Return on average assets as on March 31, 2016 was 0.55% against 0.54% as at March 31, 2015. Book value per share as on March 31, 2016 was $8.05 against $7.42 as at March 31, 2015.