Howard Bancorp, Inc. (OTC, Electronic Bulletin Board: HBMD), the parent company of Howard Bank, today announced its operating results through September 30, 2011. Through the first nine months of 2011, net income was $1.031 million, versus net income of $661 thousand for the nine month period in 2010 representing a 56% increase in net income. For the three months ended September 30, 2011, the company reported net income of $337 thousand compared to net income of $131 thousand for the third quarter of 2010, an increase of $206 thousand or 156%. Through the nine months of 2011, net interest income was $9.3 million compared to $8.4 million for 2010, an increase of $950 thousand or 11%. Non interest income was flat at $513 thousand during the nine months of 2010 as compared to $503 thousand for the same period of 2011. Year to date total non interest expenses of $7.4 million represented an increase of $1.0 million or 16% compared to total noninterest expenses for the first three quarters of 2010. 2011 expenses included increased compensation costs which represents investment in our talent infrastructure as we added to our staff to keep pace with the needs of a growing organization. Non interest expenses also included approximately $390 thousand in valuation adjustments on the carrying value of certain Other Real Estate Owned (OREO) properties, as well as the real estate taxes and other costs associated with maintaining these properties. When comparing the results for the third quarter of 2011 to the same period in 2010, net interest income of $3.2 million for 2011 also showed positive momentum, increasing by nearly $250 thousand or 8% compared to net interest income of $2.9 million in 2010. For the three months ended in September, non interest income was slightly down at $139 thousand for the third quarter of 2011 versus $160 thousand for the same period of 2010. The resulting net growth in revenues was accomplished without an increase in noninterest expense on a quarter over quarter basis. Total expenses for the third quarter of 2011 were $2.2 million, which was the same as for the same period one year earlier. Similar to the flat operating expenses, the provision for loan losses was modestly lower at $558 thousand in the third quarter of 2011, versus $604 thousand for the same period in 2010.