Metro Bancorp, Inc. (NASDAQ Global Select Market Symbol: METR), parent company of Metro Bank, today reported financial results for the fourth quarter and full year of 2011. The Company recorded net income of $2.5 million, or $0.18 per share, for the fourth quarter of 2011 compared to net income of $1.5 million, or $0.10 per share, for the fourth quarter of 2010. The Company also reported core deposit growth of 15% over the past twelve months.
|(in millions, except per share data)|
|Quarter Ended||Year Ended|
|Total loans (net)||1,415.0||1,357.6||4||%|
|Net income (loss)||2.5||1.5||70||%||0.3||(4.3||)||107||%|
|Diluted net income (loss) per share||$||0.18||$||0.10||80||
“We are extremely pleased with our 15% annual increase in core deposits for 2011 as well as our recorded net income of $2.5 million, or $0.18 per share, for the fourth quarter of 2011,” said Gary L. Nalbandian, the Company's Chairman and Chief Executive Officer.