Bay Banks of Virginia, Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported a net loss of $2.0 million, or $0.16 per diluted common share compared to net income of $571,000, or $0.12 per diluted common share for the three months ended December 31, 2016. Net interest income totaled $8.6 million compared to $7.8 million for the three months ended September 30, 2017 and $3.8 million for the prior year period before the merger. Loss before taxes was $2,003,000 compared to income before taxes of $868,000 a year ago. Return on average assets was negative at 0.86% against return on average assets of 0.48% a year ago. Return on average equity was negative at 7.10% against return on average equity of 5.46% a year ago. Book value per share as of December 31, 2017 was $8.70 compared to $8.73 a year ago. Tangible book value per share (non-GAAP) as of December 31, 2017 was $8.13 compared to $8.25 a year ago.

For the full year ended December 31, 2017, the company's net loss totaled $943,000, or $0.10 per common share compared to net income of $2.5 million, or $0.53 per common share for the prior year. 

For the quarter, the company reported net charge-offs were $948,000.