Signature Bank reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, total interest income was $302.4 million against $247.9 million last year. Net interest income before provision for loan and lease losses was $268.3 million against $215.7 million last year. Net interest income after provision for loan and lease losses was $251.7 million against $208.1 million last year. Income before income taxes was $172.6 million against $139.5 million last year. Net income was $103 million or $2.01 per diluted share against $81.4 million or $1.60 per diluted share last year. The record net income for the 2015 fourth quarter, when compared with the same period last year, is primarily the result of an increase in net interest income, fueled by strong average deposit and loan growth. These factors were partially offset by an increase in non-interest expenses. Net interest income rose $52.6 million primarily due to growth in average interest-earning assets. Return on average total assets was 1.25% against 1.20% last year. Return on average shareholders' equity was 14.30% against 13.19% last year. Net income - excluding after tax effect of net (gains) on sales of securities and net impairment losses on securities recognized in earnings was $103 million or $2.01 per diluted share against $81.4 million or $1.60 per diluted share last year.

For the year, total interest income was $1,106.9 million against $924.3 million last year. Net interest income before provision for loan and lease losses was $977.1 million against $801.2 million last year. Net interest income after provision for loan and lease losses was $932.2 million against $770.0 million last year. Income before income taxes was $628.1 million against $511.8 million last year. Net income was $373.1 million or $7.27 per diluted share against $296.7 million or $5.95 per diluted share last year. Book value per share was $56.81 against $49.61 at December 31, 2014. Return on average total assets was 1.23% against 1.20% last year. Return on average shareholders' equity was 13.85% against 13.81% last year. Net income - excluding after tax effect of net (gains) on sales of securities and net impairment losses on securities recognized in earnings was $372.9 million or $7.27 per diluted share against $294.7 million or $5.91 per diluted share last year.

Net charge offs for the fourth quarter of 2015 were $4.6 million against $5.5 million for the third quarter of 2015.