Patapsco Bancorp, Inc. Announces Quarterly and Year to Date Earnings.
For the second quarter of the Company's fiscal year 2007, ended December 31, 2006 the Company announced earnings of $359,000 or $.19 diluted earnings per share as compared to net income of $351,000 or $.18 diluted earnings per share for the prior year comparable period.
The Company's return on average assets and return on average equity were .60% and 7.63% respectively, for the six months ended December 31, 2006 on an annualized basis. This compared to a return on average assets of .64% and an return on average equity of 7.48% in the same period during the previous year.
As of December 31, 2006, Patapsco Bancorp, Inc. reported assets of $247 million and total stockholders' equity of $19.1 million compared to $228 million and $18.3 million at June 30, 2006, the Company's last fiscal year end.
The Patapsco Bank serves Baltimore City and the surrounding counties from its offices located in Carney, Dundalk, Glen Arm, Hampden and Parkville.
Attached hereto is a summary of the unaudited financial highlights for the periods discussed herein.