The Bank Recovery Room

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During the fourth quarter of 2017, CIB Marine made special tax adjustment entries related to its deferred tax assets, including a partial reversal of its valuation allowance, and, as a result, it reported net income after tax of $23.9 million for the fourth quarter of 2017 and $27.0 million for the year 2017. Pre-tax net income for the fourth quarter of 2017 was $1.2 million or $0.07 basic and $0.03 diluted earnings per share, compared to $1.1 million for the same period of 2016 and $0.06 basic and $0.03 diluted earnings per share. Pre-tax net income for the year ended December 31, 2017, was $4.3 million or $0.24 basic and $0.12 diluted earnings per share, compared to $4.1 million or $0.23 basic and $0.12 diluted per share for the same period of 2016.