Oritani Financial Corp. announced unaudited consolidated earnings results for the first quarter ended September 30, 2018. For the quarter, the company reported total interest income was $38,601,000 against $37,920,000 a year ago. Net interest income before provision for loan losses was $26,295,000 against $27,644,000 a year ago. Income before income tax expense was $18,489,000 against $19,103,000 a year ago. Net income was $13,397,000 against $11,996,000 a year ago. Basic and diluted per share was $0.3 against $0.27 a year ago. The primary causes of the increased net income in 2018 were a reversal of provision for loan losses of $2.0 million and reduced income tax expense, partially offset by increased non-interest expenses. Annualized return on average assets was 1.29% for the quarter ended September 30, 2018, and 1.16% for the quarter ended September 30, 2017.

The company reported that its board of directors declared a $0.25 quarterly cash dividend on the company's common stock. The record date for the dividend will be November 9, 2018 and the payment date will be November 19, 2018.