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Patapsco Bancorp improves earnings

Patapsco Bancorp Inc. of Dundalk, parent company of The Patapsco Bank, reported earnings available to common shareholders for its fiscal first quarter ended Sept. 30, 2011, of $128,000, or 7 cents per diluted share, versus earnings of 10,000, or 1 cent per diluted share, for the same period last year.

The bank said an improvement in net interest income, coupled with zero income tax expense in the most recent quarter, were primarily responsible for the surge in net income.

Total assets of $256 million remained the same in both years.

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