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Volume 17.6K
As of 8:10 PM 03/5/15 All times are local (Market data is delayed by at least 15 minutes).

old line bancshares inc (OLBK) Key Developments

Old Line Bancshares Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Old Line Bancshares Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, total interest income was $11,496,331 against $12,579,684 a year ago. Net interest income was $10,577,401 against $11,534,123 a year ago. Net interest income after provision for loan losses was $10,119,287 against $11,019,933 a year ago. Income before income taxes was $2,461,793 against $6,759,628 a year ago. Net income of $1.8 million available to common stockholders compared to $4.4 million for the three months ended December 31, 2013. Earnings were $0.17 per basic and $0.16 per diluted common share compared to $0.41 per basic and diluted common share for the same period in 2013. Return on Average Assets (ROAA) and Return on Average Equity (ROAE) were 0.58% and 5.21%, respectively, compared to ROAA and ROAE of 1.50% and 13.62%, respectively, for the three months ending December 31, 2013. For the full year, the company reported total interest income was $45,603,246 against $44,262,838 a year ago. Net interest income was $41,703,523 against $40,060,585 a year ago. Net interest income after provision for loan losses was $38,876,226 against $38,556,395 a year ago. Income before income taxes was $9,786,815 against $11,349,288 a year ago. Net income available to common stockholders was $7,130,300 or $0.65 per diluted share against $7,838,829 or $0.86 per diluted share a year ago. ROAA and ROAE were 0.60% and 5.45%, respectively, compared to ROAA and ROAE of 0.74% and 7.80%, respectively, for the twelve months ended December 31, 2013. The company ended the 2014 with a book value of $12.51 per common share and a tangible book value of $11.38 per common share compared to $11.71 and $10.50, respectively, at December 31, 2013. Net income was $7,092,711 compared to $7,747,205 a year ago.

Old Line Bancshares Inc. Presents at Sterne Agee Financial Institutions Investor Conference 2015, Feb-11-2015

Old Line Bancshares Inc. Presents at Sterne Agee Financial Institutions Investor Conference 2015, Feb-11-2015 . Venue: Boca Raton Resort & Club, 501 East Camino Real, Boca Raton, FL 33432, United States.

Old Line Bancshares Inc. Presents at Sandler O'Neill + Partners, L.P. 2014 East Coast Financial Services Conference, Nov-13-2014

Old Line Bancshares Inc. Presents at Sandler O'Neill + Partners, L.P. 2014 East Coast Financial Services Conference, Nov-13-2014 . Venue: Naples, Florida, United States.

Old Line Bancshares Inc. Plans to Close Four Branches in December 2014

Old Line Bancshares Inc. announced plans to realign branch offices within the footprint, which includes the closing and consolidation of four branches. The branches to be closed are Crofton Centre, Lexington Park, Solomons and Waldorf Charles County Plaza. All of these branches have existing Old Line Bank branches within close proximity. The closing of the branches, which is scheduled for December 2014, will result in an estimated pre-tax cost savings of approximately $1.6 million in 2015.

Old Line Bancshares Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Net Charge Offs for the Third Quarter of 2014

Old Line Bancshares Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income available to common stockholders of $1.745 million against $2.21 million a year ago. Basic and diluted earnings per share were $0.16 compared to $0.22 a year ago. Total interest income was $11.12 million compared to $12.6 million a year ago. Net interest income was $10.16 million compared to $11.5 million a year ago. Income before income taxes was $2.4 million compared to $3.2 million a year ago. The company ended the third quarter of 2014 with a book value of $12.35 per common share and a tangible book value of $11.20 per common share compared to $11.71 and $10.50, respectively, at December 31, 2013. The third quarter return on average assets (ROAA) and return on average equity (ROAE) were 0.57% and 5.22%, respectively, compared to ROAA and ROAE of 0.75% and 7.47%, respectively, for the third quarter of 2013. The decrease in net income for the three months ending September 30, 2014 compared to the three months ending September 30, 2013, was primarily the result of a $1.3 million, or 11.51%, decrease in net interest income, a $113,000, or 7.98%, decrease in non-interest income, offsetting a $601,000 decrease in non-interest expenses. The decline in net interest income is primarily due to a decrease of $1.7 million in accretion on acquired loans resulting from payoffs that accelerated accretion in the three months ended September 30, 2013 and accelerated amortization in the three months ended September 30, 2014. For the nine months, the company reported net income available to common stockholders of $5.35 million against $3.410 million a year ago. Diluted earnings per share were $0.49 compared to basic and diluted earnings per share of $0.40 a year ago. Total interest income was $34.106 million compared to $31.7 million a year ago. Net interest income was $31.13 million compared to $28.53 million a year ago. Income before income taxes was $7.325 million compared to $4.6 million a year ago. ROAA and ROAE for the nine months ended September 30, 2014 were 0.60% and 5.53%, respectively, compared to ROAA and ROAE of 0.45% and 4.80%, respectively, for the nine months ending September 30, 2013. For the third quarter ended September 30, 2014, the company reported net charge offs of $316,000 against $405,000 a year ago.

 

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Price/Earnings 22.2x
Price/Sales 3.5x
Price/Book 1.2x
Price/Cash Flow 22.0x
TEV/Sales 1.4x
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