Astoria Financial Corp. (AF: Quote) Wednesday reported fourth-quarter net income of $16.9 million or $0.17 per share, an increase from $11.8 million or $0.12 per share last year.
On average, 14 analysts polled by Thomson Reuters expected earnings of $0.14 per share for the quarter. Analysts’ estimates typically exclude special items.
Results for the reporting quarter included a $6 million gain resulting from the sale of the company’s entire holdings of Freddie Mac preferred stock and a $2.2 million charge related to the previously announced settlement of employment agreements.
Net interest income for the quarter totaled $87.4 million, slightly down from $87.5 million last year, while net interest margin edged up to 2.21% from 2.20%.
Analysts on consensus estimated revenues of $87.22 million for the quarter.
Non-interest income for the quarter increased to $21.6 million from $17.3 million in the prior year.
During the quarter, a $10.9 million provision for loan losses was recorded, compared with $10 million a year earlier.
Astoria said its Board has declared a quarterly cash dividend of $0.04 per common share, payable on March 1 to shareholders of record as of February 15.
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by RTT Staff Writer
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