Maryland Federal Bancorp
This Hyattsville holding company, the owner of Maryland Federal Savings and Loan Association, said yesterday that its earnings increased nearly 65 percent, to $910,000, or 30 cents a share, for the three months that ended Aug. 31. That compared with income of $552,000, or 18 cents a share, for the same period last year.
Maryland Federal credited a relatively stable demand for residential mortgage loans and a moderation in the cost of its funds for the strong growth. The company's net interest income after its $160,000 provision for possible loan losses increased 25 percent during the period.
The company also said that as of Aug. 31, its non-performing loans made up less than 0.01 percent of its total outstanding loans.
The per-share figures listed below were restated to reflect a 5 percent stock dividend issued to shareholders in April.