Oritani Financial Corp. reported that its Board of Directors has declared a $0.175 quarterly cash dividend on the Company's common stock. The record date for the dividend will be February 5, 2016 and the payment date will be February 19, 2016.

The company reported unaudited consolidated earnings results for the second quarter and six months ended Dec. 31, 2015. For the quarter, the company reported total interest income of $33.357 million against $33.663 million a year ago. Net interest income before provision for loan losses was $25.294 million against $25.064 million a year ago. Net interest income after provision for loan losses was $25.294 million against $25.064 million a year ago. Income before income tax expense was $25.847 million against $15.536 million a year ago. Net income was $15.851 million against $10.046 million a year ago. Earnings per diluted common share was $0.37 against $0.24 a year ago.


For the six months, the company reported total interest income was $66.322 million against $66.032 million a year ago. Net interest income before provision for loan losses was $49.443 million against $49.014 million a year ago. Net interest income after provision for loan losses was $49.443 million against $48.814 million a year ago. Income before income tax expense was $45.244 million against $31.236 million a year ago. Net income was $28.033 million against $20.207 million a year ago. Earnings per diluted common share was $0.66 against $0.47 a year ago. The primary cause of the increase was profits on the sale of investments in real estate joint ventures, partially offset by prepayment fees on the prepayment of FHLB advances. The company's net interest income and net interest rate spread were both negatively impacted in all periods
due to the reversal of accrued interest income on loans delinquent more than 90 days. The total of such income reversed was $123,000 and $299,000 for the three and six months ended December 31, 2015, respectively, and $256,000 and $505,000 for the three and six months ended December 31, 2014, respectively.