VSB Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total interest income was $3,296,541 against $2,671,497 a year ago. Net interest income after provision for loan loss was $3,065,721 against $2,292,832 a year ago. Income before income taxes was $1,373,321 against $860,456 a year ago. Net income was $892,553, or basic and diluted income of $0.50 per common share, compared to $559,268, or $0.32 basic and diluted net income per common share, for the quarter ended June 30, 2016. The $333,285 increase in net income was due to an increase in net interest income of $627,889 and a decrease in the provision for loan loss of $145,000. The increase in net income was partially offset by a $179,580 increase in the provision for income taxes, due to the increase in pre-tax income, a $147,340 increase in non-interest expense, and a decrease in non-interest income of $112,684. Return on average assets increased from 0.66% in the second quarter of 2016 to 0.79% in the second quarter of 2017, while return on average equity increased from 7.24% to 8.98%. The $627,889 increase in net interest income for the second quarter of 2017 occurred primarily because interest income increased by $625,044, while cost of funds decreased by $2,845. The rise in interest income resulted from a $366,558 increase in income from loans. For the first six months, the company reported total interest income was $6,142,334 against $5,297,639 a year ago. Net interest income after provision for loan loss was $5,666,829 against $4,632,317 a year ago. Income before income taxes was $2,326,896 against $1,705,718 a year ago. Net income was $1,512,373, or basic and diluted net income of $0.85 per common share, as compared to $1,108,664, or basic and diluted net income of $0.64 per common share, for the six months ended June 30, 2016. The increase in net income for the six months ended June 30, 2017 compared to the same period in 2016 was attributable principally to a $854,512 increase in net interest income (due to the non-recurring interest income in the second quarter and the higher average loan balance), a $180,000 reduction in the provision for loan loss, and a $217,469 increase in the provision for income taxes. These increases were partially offset by a $328,208 increase in non-interest expenses and an $85,126 decrease in other income. Book value per common share increased from $16.72 at year end 2016 to $17.51 at June 30, 2017.