Oritani Financial Corp. announces unaudited consolidated earnings results for three and nine months ended March 31, 2018. For three months, the company reported total interest income was $37,561,000 compared to $36,586,000 for the same period a year ago. Income before income tax expense was $18,172,000 compared to $38,643,000 for the same period a year ago. Net income was $13,425,000 or $0.30 per basic and diluted earnings per share compared to $24,266,000 $0.54 per diluted earnings per share for the same period a year ago.

For nine months, the company reported total interest income was $113,533,000 compared to $105,897,000 for the same period a year ago. Income before income tax expense was $55,293,000 compared to $71,287,000 for the same period a year ago. Net income was $29,391,000 or $0.65 per diluted earnings per share compared to $46,253,000 $1.04 per diluted earnings per share for the same period a year ago.

The company's estimated effective tax rate for the fiscal year ending June 30, 2018 decreased from 37.2% to 30.5%. The company's estimated effective tax rate is expected to decrease further in the periods following the conclusion of its fiscal year, ending June 30, 2018.