Signature Bank Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2015
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.