This Day On The Street
Continue to site
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

Carrollton Bancorp Reports Fourth Quarter And Full Year Net Income

Carrollton Bancorp, (NASDAQ: CRRB) the parent company of Carrollton Bank, announced net income of $569,000 for the fourth quarter of 2011 and $547,000 for the year ended December 31, 2011, compared to net losses of $1.2 million and $946,000 for the comparable periods in 2010. Net income available to common stockholders for the fourth quarter of 2011 was $431,000 ($0.17 per diluted share) compared to a net loss attributable to common stockholders of $1.3 million ($0.52 loss per diluted share) for the fourth quarter of 2010. Net loss attributable to common stockholders for the year ended December 31, 2011 was $1,587 ($0.00 loss per diluted share) compared to net loss attributable to common stockholders of $1.5 million ($0.58 loss per diluted share) for the same period in 2010.

The Company’s pre-tax income was $887,000 for the quarter ended December 31, 2011 compared to a pre-tax loss of $2.0 million for the quarter ended December 31, 2010. For the year ended December 31, 2011, the Company earned income before taxes of $701,000 compared to a loss before taxes of $1.8 million for the year ended December 31, 2010.

The improvement in operating results for the quarter ended December 31, 2011, as compared to the same period in 2010, is primarily a result of a $2.3 million decline in the provision for loan losses, as well as an $801,000 decline in noninterest expenses.

The improvement in operating results for the year ended December 31, 2011, compared to 2010, is primarily a result of a $1.1 million improvement in noninterest income and a $1.9 million decline in the provision for loan losses. These improvements were partially offset by higher costs associated with foreclosed real estate and lower net interest income earned on a smaller asset base. During the year ended December 31, 2011, the Company recorded a provision for loan losses of $2.2 million compared to $4.1 million during the same period in 2010. Expenses and losses associated with foreclosed real estate were $1.4 million for the year ended December 31, 2011 as compared to $889,000 for 2010.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs