Carroll Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017
Carroll Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported net income of $126,000, or $0.12 per basic and diluted common share, compared to $70,000, or $0.07 per basic and diluted common share, for the quarter ended March 31, 2016. Net interest income was $1,269,000 against $1,244,000 a year ago. Income before income tax expense was $193,993 against $99,428 a year ago. Return on average assets was 0.31% against 0.18% a year ago. Return on average equity was 3.07% against 1.71% a year ago. Net cash provided by operating activities was $312,842 against $132,254 a year ago. Purchase of premises and equipment was $37,745 against $87,654 a year ago. Total interest income was $1,559,147 against $1,469,995 a year ago. Book value per share was $17.01 against $16.77 a year ago.