Frederick County Bancorp Inc posts higher net income of USD370,000 for Q1 2012
Apr 09, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Frederick County Bancorp Inc FCBI announced on Friday that it recorded net income of USD370,000 (USD0.24 diluted earnings per share) for the first quarter ended 31 March 2012.
This is an improvement when compared to net income of USD336,000 (USD0.22 diluted earnings per share) in the first quarter of 2011.
The company attributed the growth in earnings primarily to increases in net interest income, to USD2.7m from USD2.6m last year, and in total non-interest income, to USD202,000 from USD130,000 a year ago.
As of 31 March 2012 the company had assets of USD304.7m, total deposits of USD258.9m and gross loans of USD213.3m, up 4.4%, 3.3% and 2.7%, respectively, as compared to the first quarter of 2011.
Frederick County Bancorp Inc FCBI is the parent company for Frederick County Bank.
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