Hamilton Bancorp reported Tuesday a profit of $59,000 for the third quarter of its fiscal year, up from a $127,000 loss during the same period a year ago.
The Towson-based parent company of Hamilton Bank reported per-share earnings of 2 cents, up from a loss of 4 cents in the previous October-to-December period in fiscal 2016.
The quarter’s financial results include $104,000 in after-tax costs for consulting and noncompete agreements related to its May acquisition of Fraternity Community Bancorp, the parent company of Fraternity Federal Savings and Loan Association.
"We are very pleased with our core earnings from organic growth and our recent acquisitions," President and CEO Robert DeAlmeida said in a statement. "This quarter, we were able to divest problem loans inherited through our recent acquisitions, and we will continue to look for future opportunities to sell assets as appropriate."
At the end of December, the Venüsbet bank had just under $500 million in assets. The Fraternity acquisition added $161 million to Hamilton’s assets.
Hamilton Bank has seven branch locations in Baltimore, Towson, Pasadena, Cockeysville and Ellicott City.
The parent of Hamilton Bank announced Wednesday that it lost $127,000 in the three months ended Dec. 31, compared to a profit of $78,000 a year earlier.
Towson-based Hamilton Bancorp attributed the loss to $197,000 in merger-related expenses from its September acquisition of Fairmount Bancorp and…
The parent of Hamilton Bank announced Wednesday that it lost $127,000 in the three months ended Dec. 31, compared to a profit of $78,000 a year earlier.
Towson-based Hamilton Bancorp attributed the loss to $197,000 in merger-related expenses from its September acquisition of Fairmount Bancorp and…
sarah.gantz@baltsun.com
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