This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Carrollton Bancorp Reports Third Quarter Net Income And Announces A $0.02 Quarterly Dividend

Carrollton Bancorp, (NASDAQ: CRRB) the parent company of Carrollton Bank, announced net income for the third quarter of 2010 of $153,000, compared to a net loss of $594,000 for the third quarter of 2009. Net income available to common shareholders for the third quarter of 2010 was $18,000 ($0.01 income per diluted share) compared to a net loss to common shareholders of $732,000 ($0.28 loss per diluted share) for the third quarter of 2009.

Carrollton Bancorp also announced a quarterly dividend of $0.02 per share, payable December 2, 2010 to stockholders of record on November 12, 2010. The dividend was reduced from $.04 per share in the prior quarter in recognition of the Company’s limited earnings during the quarter.

The Company’s quarterly income before taxes was $183,000 for the quarter ended September 30, 2010 compared to pre-tax operating loss of $1.1 million for the quarter ended September 30, 2009. During the third quarter of 2010 as compared to the same quarter in 2009, the Company improved net interest income by approximately $456,000 while also increasing non-interest income by approximately $419,000. These increases were partially offset by an increase in non-interest expenses of approximately $283,000. The provision for loan losses in the third quarter of 2010 was $940,000 compared to $1.6 million for the same quarter in 2009.

For the nine month period ended September 30, 2010, the Company’s income before taxes increased to $191,000 compared to a loss before taxes of $133,000 for the same period in 2009. The provision for loan losses in the 2010 year to date period was $1.6 million as compared to $2.3 million for the same period in 2009. This improvement was offset by an $850,000 increase in losses associated with the write-down of impaired securities in 2010 as compared to 2009. Non-interest income, excluding the securities write-down, and non-interest expenses were essentially flat for the year over year nine month periods.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.04 +28.83 0.17%
S&P 500 2,025.30 -4.25 -0.21%
NASDAQ 4,682.1060 +0.6090 0.01%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs