Severn Bancorp Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total interest income of $8,530,000 compared with $7,762,000 for the same period a year ago. Net interest income was $6,668,000 compared with $5,696,000 for the same period a year ago. Income before income tax provision was $2,523,000 compared with $1,905,000 for the same period a year ago. Net loss was $349,000 against income of $1,103,000 a year ago. Net loss available to common shareholders was $419,000 compared with income of $1,033,000 for the same period a year ago. Basic and diluted loss per share was $0.03 compared with earnings of $0.08 per diluted share for the same period a year ago. Negative return on average assets was 0.17% compared with return on average assets of 0.56% for the same period a year ago. Negative return on average equity was 1.59% compared with return on average equity of 4.36% for the same period a year ago. Net interest income after provision for loan losses was $6,668,000 against $6,196,000 a year ago. Discounting the impact of the one-time deferred tax asset adjustment the company would have reported net income of $1.5 million or $0.12 per diluted share for the fourth quarter of 2017. For the year, the company reported total interest income of $32,224,000 compared with $30,750,000 for the same period a year ago. Net interest income was $24,594,000 compared with $22,189,000 for the same period a year ago. Income before income tax provision was $7,840,000 compared with $5,526,000 for the same period a year ago. Net income was $2,818,000 against $15,540,000 a year ago. Net income available to common shareholders was $2,538,000 compared with $13,318,000 for the same period a year ago. Basic and diluted earnings per share were $0.21 compared with $1.15 per diluted share for the same period a year ago. Return on average assets was 0.36% compared with 2.01% for the same period a year ago. Return on average equity was 3.21% compared with 16.61% for the same period a year ago. Net interest income after provision for loan losses was $25,244,000 against $22,539,000 a year ago. Both fourth quarter and year-end earnings for 2017 were adversely impacted with the signing into law of the Tax Cuts and Jobs Act (the Act) which was enacted on December 22, 2017 and went into effect January 1, 2018. Discounting the impact of the one-time deferred tax asset adjustment the company would have reported net income of $4.7 million or $0.38 per diluted share for the year ended December 31, 2017.