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Bay Bancorp’s profits grow in 2017

(Alexstar / Depositphotos.com)

(Alexstar / Depositphotos.com)

Bay Bancorp Inc., the Columbia-based holding company for Bay Bank, saw profits rise last year.

The company in 2017 had a profit of $4.8 million, or 46 cents per basic common share, up from $2 million, or 16 cents per basic common share in 2016.

The bank’s fourth quarter in 2017 profit of $0.5 million, or 4 cents per basic common share, was down from $0.8 million, or 7 cents per basic common share for the fourth quarter in 2016. The company saw a one-time charge of $0.7 million related to changes in federal tax law, as wall as $0.3 million in expenses relating to the bank’s proposed acquisition by Old Line Bank during the quarter. That merger is expected to close in the second quarter of 2018, according to the company.


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