Patapsco Bancorp, Inc. Announces Quarterly and Year to Date Earnings.BALTIMORE -- Patapsco Bancorp, Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :PATD PATD Panic at the Disco (band) PATD Professional Association for Technical Diving PaTD Passing Touchdowns (football) PATD Post Advanced Trial Dog (dog training) ), the parent company of The Patapsco Bank, announced that earnings for the six months ended December 31, 2006 were $715,000 or $.37 diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of , compared to net income of $664,000 or $.35 diluted earnings per share for the prior year comparable period. 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 annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. 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 Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. 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. [TABLE OMITTED] |
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