Archive for the ‘financial services’ Category

ANNAPOLIS – CommerceFirst Bancorp/CommerceFirst Bank earned a consolidated net profit of $916,000 for the six months ended June 30, 2010 compared to a net profit of $100,000 for the year-ago period.  Earnings improved because of asset growth and the reduction of the cost of deposits due to re-pricing at current market interest rates.

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GLEN BURNIE – Q2 numbers at Glen Burnie Bancorp/Bank of Glen Burnie show declining profits despite net income of $322,000.  The year-ago earnings were $490,000.  Total assets rose to $364.3 million.

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UPPER MARLBORO – NASA Federal Credit Union has started a free mobile banking service that allows members to access account information, verify balances, transfer funds and locate branches and ATMs from a cell phone or smart phone.

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ANNAPOLIS – Annapolis Bancorp/BankAnnapolis posted net income of $438,000 for Q2, a sharp increase from the net loss of $1.8 million a year ago.  Year-to-date earnings are up $3.4 million.

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BALTIMORE – 1st Mariner Bancorp/1st Mariner Bank continues to struggle with a Q2 net loss of $4.7 million, an increase of $2.3 million over the year-ago figures.  The company did complete a $10.9 million capital raise and extinguished another $1.0 million in debt.

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LAUREL – Tower Federal Credit Union (a Chris O. Communications client) will open its fourth Anne Arundel branch at 2525 Riva Road next week.  Originally chartered for employees of the National Security Agency, Tower also reaches businesses and association members that meet certain criteria in its service area.

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LINTHICUM – SECU has introduced a new brand and logo to emphasize that the credit union SECU represents an alternative to traditional banks.  New signage is in place at many of its 19 branches and its headquarters.

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EASTON – Shore Bancshares reported net income of $445,000 for Q2, an improvement over the Q1 net loss of $1.6 million.  The recent numbers included a $4.9 million provision for credit losses.

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BOWIE – WSB Holdings/Washington Savings Bank, F.S.B. released figures showing a net loss of $2.4 million for Q2, a sharp decline compared to year-ago numbers.  The company allocated an additional $2.4 million for loan losses and an increase in non-interest expense.

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ELLICOTT CITY – Howard Bancorp/Howard Bank year-to-date net income of $530,000, a 400% increase over the year-ago figure.  Much of the increase was attributable to balance sheet growth, and increases in total assets by 20%, deposits by 24%, and in total loans by 12%.

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