VSB Bancorp, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. The company reported pre-tax income of $953,575 in the first quarter of 2017, compared to $845,262 for the first quarter of 2016. Net income for the quarter was $619,820, or basic income of $0.35 per common share, compared to a net income of $549,396, or $0.32 basic income per common share, for the quarter ended March 31, 2016. Return on average assets increased from 0.67% in the first quarter of 2016 to 0.68% in the first quarter of 2017, while return on average equity increased from 7.25% to 7.77%. The $70,424 increase in net income was due to an increase in net interest income of $226,623, a decrease in the provision for loan loss of $35,000 and an increase in non-interest income of $27,558, partially offset by an increase in non-interest expenses of $180,868, and an increase in the provision for income taxes of $37,889, due to an increase in pre-tax income. Net interest income was $2,616,108 against $2,389,485 a year ago. Book value per common share was $17.07 against $16.34 a year ago.