The First of Long Island Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Effective Tax Rate Guidance for the Remaining Quarters of 2018
For the quarter, the company's net interest income was $25,885,000 against $23,793,000 a year ago. Income before income taxes was $12,054,000 against $11,714,000 a year ago. Net income was $10,315,000 against $9,133,000 a year ago. Diluted EPS was $0.40 against $0.37 a year ago. ROA was 0.97% against 1.00% a year ago. ROE was 11.08% against 11.16% a year ago. Net income allocated to common stockholders was $10,292,000 against $9,099,000 a year ago.
Management expects the Corporation's effective tax rate in the remaining quarters of this year to be in the range of 14% to 16%.