4 TH QUARTER HIGHLIGHTS
- Profitability of $195,000 during the quarter despite incurring $387,000 in merger and integration expenses.
- Realization of a $193,000 gain on sale of other real estate owned.
- Continued growth in the loan portfolio while maintaining superior credit quality metrics with non-performing assets to total assets of 0.96% at December 31, 2010
- Completion of the Proxy Statement and submission to stockholders for approval of the pending Maryland Bankcorp, Inc. acquisition and merger.
- Full year net income available to common shareholders of $1.5 million.
- Announcement of the pending acquisition/merger of Maryland Bankcorp, Inc.
- 13.06% growth in the loan portfolio.
- Net interest margin of 3.86%