ANNAPOLIS – BankAnnapolis parent company Annapolis Bancorp, Inc. said its net income in Q4 2008 was $145,000 ($0.04 per basic and diluted share), significantly down from $531,000 ($0.13 per basic and diluted share) for the same period in 2007. The company recorded a $956,000 provision for credit losses in the fourth quarter, boosting its total provision for credit losses in 2008 to $2,375,000 from $448,000 in 2007.
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