Last $14.53 USD
Change Today -0.08 / -0.55%
Volume 9.5K
As of 5:20 PM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

old line bancshares inc (OLBK) Key Developments

Old Line Bancshares Inc. Presents at FIG Partners 10th Annual Bank CEO Forum, Sep-15-2014

Old Line Bancshares Inc. Presents at FIG Partners 10th Annual Bank CEO Forum, Sep-15-2014 . Venue: Four Seasons, Atlanta, Georgia, United States.

Old Line Bancshares, Inc. Declares Third Quarter Cash Dividend, Payable on September 26, 2014

On August 27, 2014, the Board of Directors of Old Line Bancshares Inc. declared a third quarter cash dividend of $0.05 per common share, a $0.01 (25.0%) increase over the second quarter cash dividend of $0.04 per share. The company will pay the dividend on September 26, 2014 to stockholders of record as of September 12, 2014.

Old Line Bancshares Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Old Line Bancshares Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. Net income available to common stockholders increased $1.9 million to $1.8 million for the three months ended June 30, 2014, compared to net loss of $84,000 for the three months ended June 30, 2013. Earnings were $0.16 per basic and diluted common share for the three months ended June 30, 2014 compared to a loss of $0.01 per basic and diluted common share for the same period in 2013. The increase in net income is primarily the result of a $1.4 million increase in net interest income, a $697,000 increase in non-interest income and a decrease of $2.0 million in non-interest expense, partially offset by an increase of $1.3 million in the provision for loan losses. The second quarter return on average assets (ROAA) and return on average equity (ROAE) were 0.60% and 5.46%, respectively, compared to ROAA and ROAE of (0.03%) and (0.35%), respectively, for the second quarter of 2013. As on June 30, 2014, book value was $12.23 per common share and a tangible book value of $11.06 per common share. Total interest income was $11.6 million compared to $10.3 million a year ago. Net interest income was $10.6 million compared to $9.2 million a year ago. Net interest income after provision for loan losses was $9.1 million compared to $9.0 million a year ago. Income before income taxes was $2.11 million compared to loss of $0.96 million a year ago. Netincome available to common stockholders was $3.6 million for the six months ended June 30, 2014, compared with $1.2 million for the same six month period last year. Earnings were $0.33 per basic and diluted common share for the six months ended June 30, 2014 compared to $0.16 per basic and $0.15 per diluted share for the same period last year. The increase in net income is primarily the result of increases of $3.9 million in net interest income and $975,000 in non-interest income, partially offset by an increase of $1.4 million in the provision for loan losses. The return of average assets (ROAA) and return on average equity (ROAE) for the six months ended June 30, 2014 were 0.62% and 5.70%, respectively, compared to ROAA and ROAE of 0.26% and 2.89%, respectively, for the six months ending June 30, 2013. Total interest income was $23 million compared to $19.1 million a year ago. Net interest income was $21 million compared to $17.1 million a year ago. Net interest income after provision for loan losses was $19.2 million compared to $16.7 million a year ago. Income before income taxes was $4.9 million compared to $1.4 million a year ago.

Old Line Bancshares Seeks Acquisitions

Old Line Bancshares Inc. (NasdaqCM:OLBK) is looking for acquisition opportunities. James Cornelsen, Chief Executive Officer of Old Line Bancshares said, "would not leapfrog, but be complementary and extend us a little geographically."

Old Line Bancshares Inc.(NasdaqCM:OLBK) added to Russell 2000 Index

Old Line Bancshares Inc. will be added to the Russell 2000 Index.

 

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Price/Cash Flow 15.3x
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