Provident New York Bancorp announced that the Board of Directors has declared a quarterly cash dividend of $0.06 per share. The dividend is payable May 16, 2013 to holders of record as of May 6, 2013.

Provident New York Bancorp reported unaudited consolidated earnings results for the second quarter and six months ended March 31, 2013. For the quarter, the company reported net income was $6.5 million, or $0.15 per diluted share, compared to net income of $5.7 million, or $0.15 per diluted share for the same quarter last year. Net interest income was $27.8 million, up $3.9 million compared to the second quarter of fiscal 2012 due to higher average loan volumes. Total interest income was $32,420,000 compared to $28,411,000 a year ago. Total net revenues were $34,671,000 compared to $34,265,000 a year ago. Core total revenues were $33,251,000 compared to $31,882,000 a year ago. Return on average assets was 0.70% compared to $0.73% a year ago. Return on average tangible equity was 8.21% compared to 8.36% a year ago. Return on average stockholders' equity was 5.37% against 5.22% a year ago. Tangible book value per share increased by $0.07 to $7.33 at March 31, 2013 from $7.26 at September 30, 2012, due to retained earnings. Book value per share was $11.15 compared to $11.12 a year ago. Income before income tax expense was $8,732,000 compared to $7,736,000 for the same period a year ago. For the six months, the company reported net income of $13,549,000 compared to $11,418,000 a year ago. Basic and diluted earnings per share were $0.31 compared to $0.31 a year ago. Net interest income was $55,742,000 compared to $47,143,000 a year ago. Total interest income was $65,565,000 compared to $56,579,000 a year ago. Total net revenues were $32,061,000 compared to $31,876,000 a year ago. Core total revenues were $30,521,000 compared to $29,878,000 a year ago. Income before income tax expense was $18,818,000 compared to $15,479,000 for the same period a year ago. The company reported net charge-offs for the second quarter were $3.2 million compared to $3.1 million in the linked quarter.

Provident New York Bancorp, Q2 2013 Earnings Call, Apr 23, 2013