Howard Ban­corp reaches $1 bil­lion in as­sets

Baltimore Sun - - NATION & WORLD -

Howard Ban­corp Inc. sur­passed $1 bil­lion in as­sets at the end of the third quar­ter, a milestone for the com­mu­nity bank. The El­li­cott City-based par­ent of Howard Bank earned $1.7 mil­lion, or 25 cents per share, in the July-to-Septem­ber pe­riod, up from an $816,000 loss the same quar­ter last year. The loss last year re­flected a one-time $3.3 mil­lion charge re­lated to a data sys­tem con­ver­sion and costs as­so­ci­ated with its ac­qui­si­tion of Pat­ap­sco Bank. “The third quar­ter of 2016 clearly ev­i­dences the suc­cess and sus­tain­abil­ity of our or­ganic loan orig­i­na­tion en­gine, with­out the im­pact of newly ac­quired growth,” said Mary Ann Scully, the bank’s chair and CEO, in a state­ment. “We are pleased to demon­strate the abil­ity to con­sis­tently ex­pand not only our bal­ance sheet but also im­prove our re­turn

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