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As of 8:10 PM 07/9/14 All times are local (Market data is delayed by at least 15 minutes).

hamilton bancorp inc/md (HBK) Key Developments

Hamilton Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2014; Announces Charge-Offs for the fourth quarter ended March 31, 2014

Hamilton Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended March 31, 2014. For the quarter, the company reported net interest income was $2,015,000 against $2,062,000 a year ago. The increase for fiscal 2014 was primarily attributable to declines in both the cost and average balance of interest-bearing deposits. Loss before tax expense was $670,000 against $1,042,000 for the same period a year ago. Net loss available to common stockholders was $385,000 or $0.12 basic and diluted loss per share against $602,000 or $0.18 basic and diluted loss per share a year ago. A portion of the loss for the current quarter is due to several larger expenses, including a $340,000 write down of foreclosed real estate, a $75,000 legal bill associated with a participation loan in which Hamilton Bank is not the lead lender and additional salary expense incurred with the retirement of an executive. For the year, the company reported net interest income was $8,320,000 against $8,083,000 a year ago. Loss before tax expense was $1,887,000 against $479,000 for the same period a year ago. Net loss available to common stockholders was $1,014,000 or $0.30 basic and diluted loss per share against $172,000 or $0.05 basic and diluted loss per share a year ago. The company's book value per common share at March 31, 2014 was $17.23. Net interest income increase was primarily attributable to declines in both the cost and average balance of interest-bearing deposits. The company announced charge-offs of $189,000 for the fourth quarter ended March 31, 2014.

Hamilton Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013; Reports Net Charge Offs for the Third Quarter of 2013

Hamilton Bancorp, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported net interest income of USD 2.054 million compared to USD 1.931 million a year ago. Loss before income taxes was USD 0.280 million compared to income before income taxes of USD 0.059 million a year ago. Net loss attributable to company’s common stockholders was USD 0.147 million compared to net income available to common stockholders of USD 0.065 million a year ago. Basic and diluted net loss per share was USD 0.04 compared to basic and diluted earnings per share of USD 0.02 a year ago. For the nine months, the company reported net interest income of USD 6.305 million compared to USD 6.021 million a year ago. Loss before income taxes was USD 1.217 million compared to income before income taxes of USD 0.562 million a year ago. Net loss attributable to company’s common stockholders was USD 0.629 million compared to net income available to common stockholders of USD 0.429 million a year ago. Basic and diluted net loss per share was USD 0.19 compared to basic and diluted earnings per share of USD 0.12 a year ago. Book value per common share at December 31, 2013 was USD 17.47. Tangible book value per common share was USD 16.67. The provision for loan loss in the third quarter of 2013 was related to net charge offs totaling USD 291,000, largely related to one commercial business borrower and several smaller 1-4 family residential loans.

Hamilton Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2013

Hamilton Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2013. For the quarter, net interest income increased $135,000 to $2.1 million from $2.0 million for the quarter ended September 30, 2012. Interest income was $2.6 million against $2.7 million last year. Loss before income taxes was $0.9 million against income before income taxes of $0.2 million last year. Net loss available to common shareholders was $0.5 million or $0.15 per basic and diluted share against net income available to common shareholders of $0.1 million last year. Net interest income increased $161,000 to $4.3 million for the six months ended September 30, 2013, compared to $4.1 million for the same 2012 period. The increases for the second quarter and six months in 2013 were primarily attributable to declines in both the cost and average balance on interest-bearing deposits. The declines in the cost of interest-bearing deposits were partially offset by declines in the yield on interest-earning assets as the average balance of interest-earning assets remained relatively constant. Interest income was $5.3 million against $5.6 million last year. Loss before income taxes was $0.9 million against income before income taxes of $0.5 million last year. Net loss available to common shareholders was $0.5 million or $0.14 per basic and diluted share against net income available to common shareholders of $0.4 million last year. Book value per common share was $17.57 against $18.21 at March 31, 2013. Tangible book value per common share was $16.80 against $17.43 at March 31, 2013.

Hamilton Bancorp, Inc. (Maryland) Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2013

Hamilton Bancorp, Inc. (Maryland) reported unaudited consolidated earnings results for the first quarter ended June 30, 2013. For the period, the company reported net interest income of $2,127,000 against $2,101,000 a year ago. Loss before income tax expense was $48,000 against income before income tax expense of $320,000 a year ago. Net income available to common stockholders was $18,000 or $0.01 per basic and diluted share against $223,000 a year ago. Book value per common share as at June 30, 2013 was $17.74 against $18.21 a year ago.

Hamilton Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2013

Hamilton Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended March 31, 2013. For the quarter, the company reported net loss of $601,600, or a loss of $0.18 per share (basic and diluted) compared to a net loss of $911,500 for the quarter ended March 31, 2012. Net interest income was $2.1 million. Loss before income tax expense was $1,042,000 against $1,548,000 for the same period a year ago. For the year, the company reported net loss of $172,000, or a loss of $0.05 per share (basic and diluted), compared to net income of $131,000 for the year ended March 31, 2012. The Company's book value per common share at March 31, 2013 was $19.71. Tangible book value per share was $18.87. Net interest income decreased $517,000 to $8.1 million for the year compared to $8.6 million for fiscal 2012. The decrease during fiscal 2013 was due to the low interest rate environment which resulted in a decrease in yields on loans and investments which was partially offset by a decrease in the cost of deposits. Loss before income tax expense was $479,000 against income before income tax expense of $14,000 for the same period a year ago.

 

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