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Md. bank sees 340 pct YOY profit increase in first half of 2017

(pogonici, Depositphotos.com)

(pogonici, Depositphotos.com)

Bay Bancorp Inc., the Columbia-based holding company for Bay Bank FSB, on Tuesday announced that its second-quarter profit grew to $1.23 million, or 12 cents per basic and 11 cents per diluted common share, an increase from the prior quarter’s profit of $960,000 or 9 cents per basic and diluted common share.

When considering the first half of the fiscal year, Bay had a profit of $2.18 million or 21 cents per basic and 20 cents per diluted common share for the first half of 2017, a 340 percent increase from the prior year’s first-half profit of $640,000 or 6 cents per basic and diluted common share.

The bank now has more than $646 million in assets and 11 branches in the Baltimore-Washington region, and is the fifth-largest community bank headquartered in the Baltimore region based on deposit market share.


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