Tristate Capital Holdings, Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Tax Rate Guidance for the Full Year 2018
For the full year, the company reported net interest income was $91,353,000 against $74,813,000 a year ago. Income before tax was $47,470,000 against $41,689,000 a year ago. Net income was $37,988,000 against $28,641,000 a year ago. Diluted earnings per common share was $1.32 against $1.01 a year ago. Book value per common share was $13.61 against $12.38 a year ago. Tangible book value per common share was $11.32 against $10.02 a year ago. Return on average assets of 0.89% against 0.81% a year ago. Return on average equity of 10% against 8.48% a year ago. Total revenue was $138,009,000 against $121,244,000 a year ago. Adjusted EBITDA was $7,421,000 against $9,873,000 a year ago.
The company provides tax rate guidance for the full year 2018. The company announced that Capital expects its 2018 effective tax rate to be approximately 21%.