Sterling Bancorp. reported unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, total interest income was $68,087,000 against $52,711,000 a year ago. Net interest income was $60,237,000 against $60,237,000 a year ago. Income before income tax expense was $25,380,000 against loss of $20,950,000 a year ago. Net income was $17,004,000 or $0.20 per basic and diluted share against loss of $14,002,000 or $0.20 per basic and diluted share a year ago. Return on average assets was 0.92% against negative return on average assets of 0.92% a year ago. Return on average equity was 6.93% against negative return on average equity of 7.12% a year ago. Return on average tangible equity was 12.50% against negative return on average tangible equity of 12.84% a year ago. Core return on average tangible assets was 1.13% against 0.69% a year ago. Book value per share was $11.62 and tangible book value per share was $6.47.

Net charge-offs against the allowance for loan losses for the three months ended December 31, 2014 were $1.238 million, compared to $1.265 million a year ago.