BOWIE, Md., Jan. 27, 2014 (GLOBE NEWSWIRE) -- Old Line Bancshares, Inc. (Nasdaq:OLBK), the parent company of Old Line Bank, reported net income available to common stockholders of $7.8 million for the year ended December 31, 2013. Net income increased $308,000 or 4.10% for the year, compared to net income of $7.5 million for the year ended December 31, 2012. Earnings were $0.87 and $0.86 per basic and diluted common share, respectively, for the year ended December 31, 2013 and $1.10 and $1.09, respectively, per basic and diluted common share in 2012. The increase in net income is primarily the result of a $6.9 million increase in net interest income and a $5.2 million increase in non-interest income, offsetting an increase of $10.9 million in non-interest expense. Non-interest income increased as a result of $3.4 million in gains on the sale of approximately $22.6 million of loans acquired in the Bank's two acquisitions.
Old Line Bancshares, Inc. Reports Strong Organic Loan Growth Of 22.65% For The Year And Increased Earnings Of 157.9% For The Fourth Quarter Ended December 31, 2013
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