HBMD Howard Bancorp Inc. featured news, full reports, and detailed charts
Howard Bancorp Inc. (HBMD/HBMD.OB) Wrap Up:
Howard Bancorp, Inc. operates as a holding company for Howard Bank that provides a range of commercial and retail banking services in Maryland. It offers various deposits products, such as community business, business relationship, business solutions, super, howard relationship, and howard maximum checking accounts; individual retirement accounts; business, junior, and personal savings accounts; anniversary, incentive, and business money market accounts; and certificates of deposits. The company’s loan portfolio comprises commercial construction, commercial real estate, home equity, and consumer installment loans; and commercial and unsecured lines of credit. Howard Bancorp also provides bus...Howard Bancorp Inc. (HBMD:OTC Bulletin Board Market)
Snapshot of Howard Bancorp Inc. (HBMD)
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OPEN
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PREVIOUS CLOSE
$7.50
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DAY HIGH
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DAY LOW
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52 WEEK HIGH
01/7/09 - $10.40
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52 WEEK LOW
10/21/09 - $4.00
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MARKET CAP
0.0
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AVERAGE VOLUME 3 mo
0.0
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DILUTED EPS TTM
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SHARES OUTSTANDING
0.0
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HBMD Does Not Pay Dividends
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P/E TTM
NM
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HBMD Top Compensated Officers
Executives, Board Directors
Key developments for Howard Bancorp Inc. (HBMD)
Howard Bancorp Inc. announced earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $57,000 compared net income of $148,000 for the third quarter of 2008. Net interest income was $2.3 million increased by nearly $385,000 or 20% compared to net interest income of $1.9 million in 2008. These revenue increases were well in excess of growth in staffing and facilities costs associated with the opening of the bank's fourth branch in the first quarter of 2009, and the expansion into Anne Arundel County where a fifth branch will open in the fourth quarter of 2009. For the nine months, the company reported net income of $162,000 compared to net income of $234,000 for the nine month period in 2008. Net interest income was $6.3 million compared to $5.4 million for 2008, an increase of $900,000 or 17%. The improvement in net interest income and non interest income for 2009 was primarily the result of continued balance sheet growth.
Howard Bancorp Inc. reported earnings results for the second quarter and six months ended June 30, 2009. The company announced its ninth consecutive quarter of profitability with net income of $87,000 for the second quarter of 2009, compared to net income of $17,000 for the first quarter of 2009, and $10,000 for the second quarter of 2008. In comparing the second quarter of 2009 to the similar quarter of 2008, quarterly net interest income of $2.14 million for the second quarter of 2009, increased by nearly $400,000 or 21% over the net interest income of $1.77 million in 2008. The company recorded net income of $104,000 for the first six months of 2009 which is a 21% increase over net income of $87,000 for the similar six month period of 2008. Year-to-date net interest income for 2009 versus 2008 rose by $546,000 or 16% and noninterest income increased by $105,000 or 43%. These increases in revenue sources, along with a lower provision expense, were sufficient to cover the increase in normal operating expenses, the increased level of regulatory assessments, as well as the additional costs of expanding marketplace.
Howard Bancorp Inc. reported earnings results for the first quarter ended March 31, 2009. For the quarter, net interest income was $1.82 million, increased by $180,000 or 11% over the $1.64 million for the same period in 2008. Net income was $17,000 compared to $77,000 for the same period last year.
HBMD Competitors
| Company | Last | Change |
| 1st Colonial Bancorp Inc PA | $4.15 USD | 0.00 |
| CB Financial Corp | $7.75 USD | 0.00 |
| Regal Bancorp Inc | $16.00 USD | 0.00 |
| Shore Community Bk | $3.00 USD | 0.00 |
| Sterling Banks Inc | $1.30 USD | +0.132 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | HBMD | Industry Range |
| Price/Earnings | 58.7x |
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| Price/Sales | 2.7x |
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| Price/Book | 0.8x |
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| Price/Cash Flow | -- | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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HBMD |
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HBMD transactions
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| No transactions in the last 6 months. | ||
More Recent News About Howard Bancorp Inc.
More news for HBMD
Howard Bancorp, Inc. Reports Results for the Third Quarter of 2009
ELLICOTT CITY, Md.--(BUSINESS WIRE)--Howard Bancorp, Inc. (OTC, Electronic Bulletin Board: HBMD), the parent company of Howard Bank, today announced its operating results through September 30, 2009. For the three months ended September 30, 2009, the company reported net income of $57 thousand compared to net income of $87 thousand for the three months ending June 30, 2009, and net income of $148 thousand for the third quarter of 2008. Through the first nine months of 2009, net income was $162 thousand, versus net income of $234 thousand for the nine month period in 2008. When comparing the results for the third quarter of 2009 to the similar period in 2008, net interest income of $2.3 million for 2009 increased by nearly $385 thousand or 20% compared to net interest income of $1.9 million in 2008. Similarly, non interest income was $182 thousand for the third quarter of 2009 versus $144 thousand for the same period of 2008, representing an increase of 27%. These revenue increases were well in excess of growth in staffing and facilities costs associated with the opening of the bank’s fourth branch in the first quarter of 2009, and the expansion into Anne Arundel County where a fifth branch will open in the fourth quarter of 2009. However, like most in the banking industry, Howard Bank was assessed significant increases in fees to replenish the FDIC deposit insurance fund. For the third quarter of 2009, FDIC insurance costs increased from $37 thousand in 2008 to over $127 thousand, an increase of almost $91 thousand or 247%. This increase in regular quarterly assessments was in addition to the special assessment imposed by the FDIC which increased expenses for the second quarter of 2009 by...Click here to read the whole Article (external link)