OLBK Old Line Bancshares, Inc. featured news, full reports, and detailed charts
Old Line Bancshares, Inc. (OLBK) Wrap Up:
Old Line Bancshares, Inc. was incorporated under the laws of the State of Maryland on April 11, 2003 to serve as the holding company of Old Line Bank. The primary business of Old Line Bancshares, Inc. is to own all of the capital stock of Old Line Bank. On May 22, 2003, the stockholders of Old Line Bank approved the reorganization of Old Line Bank into a holding company structure. The reorganization became effective at 12:01 a.m. on September 15, 2003. In connection with the reorganization, (i) Old Line Bank became our wholly-owned subsidiary and (ii) each outstanding share (or fraction thereof) of Old Line Bank common stock was converted into one share (or fraction thereof) of Old Line Bancshares, Inc. common stock, and the former holders of Old Line Bank common stock became the holders of all our outstanding shares. Our primary business is to own all of the capital stock of Old Line Bank. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f13%2f0000950133-08-001041.html#FIS_BUSINESS"Old Line Bancshares Inc. (OLBK:NASDAQ)
Snapshot of Old Line Bancshares Inc. (OLBK)
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OPEN
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PREVIOUS CLOSE
$6.50
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DAY HIGH
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DAY LOW
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52 WEEK HIGH
12/5/08 - $7.50
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52 WEEK LOW
02/23/09 - $4.03
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MARKET CAP
25.1M
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AVERAGE VOLUME 3 mo
1.1K
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DILUTED EPS TTM
$0.50
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SHARES OUTSTANDING
3.9M
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EX-DATE
12/11/09
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P/E TTM
13.0x
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DIVIDEND
$0.12
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DIVIDEND YIELD
1.85%
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| K = Thousands M = Millions B = Billions | ||
OLBK Top Compensated Officers
Executives, Board Directors
Key developments for Old Line Bancshares Inc. (OLBK)
Old Line Bancshares Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the three month period ended September 30, 2009, net income attributable to the company increased $0.074 million or 17.11% to $0.507 million compared to $0.434 million reported for the three month period ended September 30, 2008. After inclusion of the dividend on the preferred stock, net income available to common stockholders declined $0.207 million to $0.227 million from $0.433 for the three month period. Earnings per basic and diluted common share were $0.06 for the three month period ended September 30, 2009 compared to $0.11 for the three month period ended September 30, 2008. The company reported income before income taxes of $0.761 million and total interest revenue of $4.39 million compared to income before income taxes of $0.676 million and total interest revenue of $3.936 million for the same period last year. The company reported net interest income of $2.99 million and net interest income after provision for loan losses of $2.78 million compared to net interest income of $2.48 million and net interest income after provision for loan losses of $2.297 million for the same period last year. The company reported that net income attributable to the company increased $0.19 million or 14.17% for the nine months ended September 30, 2009 to $1.6 million from $1.4 million for the nine months ended September 30, 2008. After inclusion of the dividends and accretion on the preferred stock issued under the U.S. Treasury Department's Capital Purchase Program in December 2008, net income available to common stockholders for the nine month period was $1.08 million compared to $1.37 million for the same period last year. Earnings per basic and diluted common share were $0.28 for the nine months ended September 30, 2009 and $0.35 for the same period in 2008. The 14.17% increase in net income for the nine month period was primarily the result of a $1.4 million increase in net interest income. The company reported income before income taxes of $2.49 million and total interest revenue of $12.72 million compared to income before income taxes of $1.37 million and total interest revenue of $11.43 million for the same period last year. The company reported net interest income of $8.45 million and net interest income after provision for loan losses of $7.69 million compared to net interest income of $7.07 million and net interest income after provision for loan losses of $6.72 million for the same period last year.
Old Line Bancshares Inc. reported un-audited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net income available to common stockholders of $447,486 or $0.12 per diluted share on total interest revenue of $4,227,334 against $496,824 or $0.13 per diluted share on total interest revenue of $3,725,696 a year ago. Net interest income was $2,811,000 against $2,359,838 a year ago. Income before income taxes was $823,752 against $762,029 a year ago. Net income was $550,965 against $496,824 a year ago. Net interest income after provision for loan losses for the period was $2,561,000 against $2,233,238 a year ago. For the six months, the company reported net income available to common stockholders of $857,241 or $0.22 per diluted share on total interest revenue of $8,329,282 against $941,657 or $0.24 per diluted share on total interest revenue of $7,496,138 a year ago. Net interest income was $5,463,253 against $4,589,371 a year ago. Income before income taxes was $1,717,475 against $1,440,290 a year ago. Net income was $1,162,573 against $941,657 a year ago. Net interest income after provision for loan losses for the period was $4,913,253 against $4,424,371 a year ago. The 12.82% increase in net income for the six month period was primarily the result of an $873,882 increase in net interest income. This increase derived from a $37.2 million or 17.94% increase in average net loans outstanding during the period as Old Line Bank's net interest margin declined 20 basis points to 3.70% from 3.90% for the six months ended June 30, 2008. The company also announced that the opening of 9th branch in Crofton, Maryland on July 1, 2009. This branch located at 1641 State Route 3 North, Crofton, Maryland in Anne Arundel County is managed by Cathy Woods.
Old Line Bancshares Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2008. The company reported that net income increased $67,495 or 15.17% for the three months ended March 31, 2009 to $512,327 from $444,833 for the three months ended March 31, 2008. After inclusion of the dividends and accretion on the preferred stock issued under the U.S. Treasury Department's Capital Purchase Program in December 2008, net income available to common shareholders for the three month period was $409,755. Earnings per basic and diluted common share were $0.11 for the three months ended March 31, 2009 and 2008. The 15.17% increase in net income for the three month period was primarily the result of an approximately $423,000 increase in net interest income. This increase derived from a $15.7 million or 6.79% increase in net loans during the period as Old Line Bank's net interest margin remained comparable to that reported in 2008. The company also had an approximately $160,000 increase in pre-tax earnings from majority owned subsidiary Pointer Ridge Office Investments, L.L.C. The company also reported total interest revenue of $4,101,948, net interest income of $2,652,253, income before income taxes of $893,723 compared to total interest revenue of $3,770,442, net interest income of $2,229,533, income before income taxes of $678,261 for the same period a year ago.
OLBK Competitors
| Company | Last | Change |
| CBT Financial Corp | $23.00 USD | 0.00 |
| First Community Finl Mifflntwn | $20.00 USD | 0.00 |
| Glenn Burnie Bancorp | $8.55 USD | 0.00 |
| Jonestown Bank and Trust | $20.50 USD | 0.00 |
| VSB Bancorp Inc | $11.13 USD | +0.06 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | OLBK | Industry Range |
| Price/Earnings | 17.6x |
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| Price/Sales | 2.1x |
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| Price/Book | 0.7x |
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| Price/Cash Flow | 12.9x |
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| TEV/Sales | NM | Not Meaningful |
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OLBK |
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OLBK transactions
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| No transactions in the last 6 months. | ||
More Recent News About Old Line Bancshares, Inc.
More news for OLBK
Old Line Bancshares, Inc. Repays TARP Investment and Announces Net Income Available to Common Stockholders of $857 Thousand Dollars for the First Six Months of 2009
BOWIE, Md., July 27, 2009 (GLOBE NEWSWIRE) -- James W. Cornelsen, President and Chief Executive Officer of Old Line Bancshares, Inc. (Nasdaq:OLBK - News), the parent company of Old Line Bank, reported that net income attributable to Old Line Bancshares, Inc. increased $120,728 or 12.82% for the six months ended June 30, 2009 to $1,062,385 from $941,657 for the six months ended June 30, 2008. After inclusion of the dividends and accretion on the preferred stock issued under the U.S. Treasury Department's Capital Purchase Program in December 2008, net income available to common stockholders for the six month period was $857,241. Earnings per basic and diluted common share were $0.22 for the six months ended June 30, 2009 and $0.24 for the same period in 2008. The 12.82% increase in net income for the six month period was primarily the result of an $873,882 increase in net interest income. This increase derived from a $37.2 million or 17.94% increase in average net loans outstanding during the period as Old Line Bank's net interest margin declined 20 basis points to 3.70% from 3.90% for the six months ended June 30, 2008. We also had an approximately $167,000 increase in pre-tax earnings from our majority owned subsidiary Pointer Ridge Office Investments, LLC and an approximately $158,000 gain from sale on investments. These increases were partially offset by a $385,000 increase in the loan loss provision from $165,000 to $550,000 and increased operating expenses associated with the operations of our College Park and Annapolis branches that opened in February and September 2008, respectively. During the six month period, we incurred a $255,...Click here to read the whole Article (external link)
Old Line Bancshares, Inc. Announces Net Income Available to Common Stockholders of $1.1 Million Dollars for the First Nine Months of 2009
BOWIE, Md., Oct. 19, 2009 (GLOBE NEWSWIRE) -- James W. Cornelsen, President and Chief Executive Officer of Old Line Bancshares, Inc. (Nasdaq:OLBK - News), the parent company of Old Line Bank, reported that net income attributable to Old Line Bancshares, Inc. increased $194,867 or 14.17% for the nine months ended September 30, 2009 to $1.6 million from $1.4 million for the nine months ended September 30, 2008. After inclusion of the dividends and accretion on the preferred stock issued under the U.S. Treasury Department's Capital Purchase Program in December 2008, net income available to common stockholders for the nine month period was $1.1 million. Earnings per basic and diluted common share were $0.28 for the nine months ended September 30, 2009 and $0.35 for the same period in 2008. The 14.17% increase in net income for the nine month period was primarily the result of a $1.4 million increase in net interest income. The increase in net interest income derived from a $37.1 million or 17.49% increase in average net loans outstanding during the period as Old Line Bank's net interest margin decreased 10 basis points to 3.77% from 3.87% for the nine months ended September 30, 2008. We also had an approximately $160,000 increase in pre-tax earnings from our majority owned subsidiary Pointer Ridge Office Investments, LLC and an approximately $159,000 gain from sale on investments. These increases were partially offset by a $415,000 increase in the loan loss provision from $345,000 to $760,000 and increased operating expenses associated with the operations of our College Park, Annapolis, and Crofton branches that opened in February and Septemb...Click here to read the whole Article (external link)
OLD LINE BANCSHARES INC Files SEC form 8-K, Other Events
Show all filings for OLD LINE BANCSHARES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for OLD LINE BANCSHARES INC 15-Jul-2009Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for ...Click here to read the whole Article (external link)
OLD LINE BANCSHARES INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Introduction Some of the matters discussed below include forward-looking statements. Forward-looking statements often use words such as "believe," "expect," "plan," "may," "will," "should," "project," "contemplate," "anticipate," "forecast," "intend" or other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. Our actual results and the actual outcome of our expectations and strategies could be different from those anticipated or estimated for the reasons discussed below and under the heading "Information Regarding Forward Looking Statements." Overview Old Line Bancshares was incorporated under the laws of the State of Maryland on April 11, 2003 to serve as the holding company of Old Line Bank. Our primary business is to own all of the capital stock of Old Line Bank. We also have an approximately $1.2 million investment in a real estate investment limited liability company named Pointer Ridge Office Investment, LLC (Pointer Ridge). We own 62.5% of Pointer Ridge. Frank Lucente, one of our directors and a director of Old Line Bank, controls 12.5% of Pointer Ridge and controls the manager of Pointer Ridge. The purpose of Pointer Ridge is to acquire, own, hold for profit, sell, assign, transfer, operate, lease, develop, mortgage, refinance, pledge and otherwise deal with real property located at the intersection of Pointer Ridge Road and Route 301 in Bowie, Maryland. Pointer Ridge owns a commercial office building containing approximately 40,000 square feet and leases this space to tenants. We lease approximately 50% of this building for our main office and operate a branch of Old Line Bank from this address. Summary of Recent Performance and Other Activities During one of the most chal...Click here to read the whole Article (external link)
OLD LINE BANCSHARES INC Files SEC form 8-K, Results of Operations and Financial Condition
Show all filings for OLD LINE BANCSHARES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for OLD LINE BANCSHARES INC 27-Jul-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational...Click here to read the whole Article (external link)
Old Line Bancshares, Inc. Repays TARP Investment and Announces Net Income Available to Common Stockholders of $857 Thousand Dollars for the First Six Months of 2009
BOWIE, Md., July 27, 2009 (GLOBE NEWSWIRE) -- James W. Cornelsen, President and Chief Executive Officer of Old Line Bancshares, Inc. (Nasdaq:OLBK - News), the parent company of Old Line Bank, reported that net income attributable to Old Line Bancshares, Inc. increased $120,728 or 12.82% for the six months ended June 30, 2009 to $1,062,385 from $941,657 for the six months ended June 30, 2008. After inclusion of the dividends and accretion on the preferred stock issued under the U.S. Treasury Department's Capital Purchase Program in December 2008, net income available to common stockholders for the six month period was $857,241. Earnings per basic and diluted common share were $0.22 for the six months ended June 30, 2009 and $0.24 for the same period in 2008. The 12.82% increase in net income for the six month period was primarily the result of an $873,882 increase in net interest income. This increase derived from a $37.2 million or 17.94% increase in average net loans outstanding during the period as Old Line Bank's net interest margin declined 20 basis points to 3.70% from 3.90% for the six months ended June 30, 2008. We also had an approximately $167,000 increase in pre-tax earnings from our majority owned subsidiary Pointer Ridge Office Investments, LLC and an approximately $158,000 gain from sale on investments. These increases were partially offset by a $385,000 increase in the loan loss provision from $165,000 to $550,000 and increased operating expenses associated with the operations of our College Park and Annapolis branches that opened in February and September 2008, respectively. During the six month period, we incurred a $255,...Click here to read the whole Article (external link)
Bullish and Bearish Takes on Regional Banks
67 WALL STREET, New York - October 10, 2009 - The Wall Street Transcript has just published its Northeast and Mid-Atlantic Regional Banks Report offering a timely review of the sector to serious investors and industry executives. This 121 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online. Topics covered: Residential Mortgage Situation -- Regional Banks Mergers and Acquisitions Timing Strategy -- Commercial Mortgage Portfolio Decay -- Timing Of Commercial Mortgage Portfolio Bad Debt Write Offs-- FDIC Hit List For Bank Closings -- Mutual Holding Company Structure -- Interest Rate Scenarios -- Banking Pricing Power -- Expensive Bank Valuations -- Tangible Book As Guide For Bank Stock Pricing -- Distressed Sales Of Community and Regional Banks -- TARP Program -- Attitude Of Institutional Investors Towards Resurgence in Community Banking -- Unique Business Models -- Regional Bank Boards Looking For Exit Companies include: BB and T (BBT); Colonial (CNB); First Niagara (FNFG); PNC (PNC); National City (NCC-PA); Harleysville National (HNBC); Citizens First Bancorp (CTZN); Regions Financial (RF); Bank of America (BAC); SunTrust Banks (STI); Pinnacle Financial (PNFP); Northwest Bancorp Inc. (NWSB); Beneficial (BNCL); Investor Savings Bancorp (ISBC); Territorial Bancorp (TBNK); FNB Bancorp (FNBG.OB); National Penn (NPBC); Trustco Bank (TRST); KeyBank (KEY); M and T Bank (MTB); New York Community Bancorp (NYB); Bank of New York Mellon (BK); W...Click here to read the whole Article (external link)
OLD LINE BANCSHARES INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Introduction Some of the matters discussed below include forward-looking statements. Forward-looking statements often use words such as "believe," "expect," "plan," "may," "will," "should," "project," "contemplate," "anticipate," "forecast," "intend" or other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. Our actual results and the actual outcome of our expectations and strategies could be different from those anticipated or estimated for the reasons discussed below and under the heading "Information Regarding Forward Looking Statements." Overview Old Line Bancshares was incorporated under the laws of the State of Maryland on April 11, 2003 to serve as the holding company of Old Line Bank. Our primary business is to own all of the capital stock of Old Line Bank. We also have an approximately $1.2 million investment in a real estate investment limited liability company named Pointer Ridge Office Investment, LLC (Pointer Ridge). We own 62.5% of Pointer Ridge. Frank Lucente, one of our directors and a director of Old Line Bank, controls 12.5% of Pointer Ridge and controls the manager of Pointer Ridge. The purpose of Pointer Ridge is to acquire, own, hold for profit, sell, assign, transfer, operate, lease, develop, mortgage, refinance, pledge and otherwise deal with real property located at the intersection of Pointer Ridge Road and Route 301 in Bowie, Maryland. Pointer Ridge owns a commercial office building containing approximately 40,000 square feet and leases this space to tenants. We lease approximately 50% of this building for our main office and operate a branch of Old Line Bank from this address. Summary of Recent Performance and Other Activit...Click here to read the whole Article (external link)
OLD LINE BANCSHARES INC Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue4,761 4,762 4,706 4,253 Cost of Revenue1,153 1,157 1,189 1,328 Gross Profit - 3,605 3,516 2,925 Operating ExpensesResearch Development - - - - Selling General and Administrative2,384 2,272 2,062 2,066 Non Recurring - - - - Others210 250 300 70 Total Operating Expenses - - - - Operating Income or Loss - 1,083 1,154 789 Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes1,013 1,083 1,154 794 Interest Expense252 259 260 215 Income Before Tax761 824 894 579 Income Tax Expense258 273 282 198 Minority Interest(96)99 (99)5 Net Income From Continuing Ops407 650 512 381 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Changes - ...Click here to read the whole Article (external link)
OLD LINE BANCSHARES INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Introduction Some of the matters discussed below include forward-looking statements. Forward-looking statements often use words such as "believe," "expect," "plan," "may," "will," "should," "project," "contemplate," "anticipate," "forecast," "intend" or other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. Our actual results and the actual outcome of our expectations and strategies could be different from those anticipated or estimated for the reasons discussed below and under the heading "Information Regarding Forward Looking Statements." Overview Old Line Bancshares was incorporated under the laws of the State of Maryland on April 11, 2003 to serve as the holding company of Old Line Bank. Our primary business is to own all of the capital stock of Old Line Bank. We also have an approximately $1.2 million investment in a real estate investment limited liability company named Pointer Ridge Office Investment, LLC (Pointer Ridge). We own 62.5% of Pointer Ridge. Frank Lucente, one of our directors and a director of Old Line Bank, controls 12.5% of Pointer Ridge and controls the manager of Pointer Ridge. The purpose of Pointer Ridge is to acquire, own, hold for profit, sell, assign, transfer, operate, lease, develop, mortgage, refinance, pledge and otherwise deal with real property located at the intersection of Pointer Ridge Road and Route 301 in Bowie, Maryland. Pointer Ridge owns a commercial office building containing approximately 40,000 square feet and leases this space to tenants. We lease approximately 50% of this building for our main office and operate a branch of Old Line Bank from this address. Summary of Recent Performance and Other Activities During one of the mos...Click here to read the whole Article (external link)