Bell Atlantic Corp.
This Philadelphia-based Baby Bell reported strong gains in net quarterly income yesterday despite slowed growth in access lines and calling volume and lower cellular use.
`This lower volume growth," said Raymond W. Smith, chairman and chief executive officer of Bell Atlantic, the parent company of C&P Telephone Co. of Maryland, "was partially offset by our success in generating new revenues in our telephone companies and by rigorous expense controls."
For the year ended Dec. 31, Bell Atlantic's net income increased to $1.3 billion from $1.1 billion. Bell Atlantic said results for 1990 include a non-cash, fourth-quarter charge of 15 cents a share against the company's investment in its financial services business to reflect more closely market value.
John Hanson Bancorp Inc.
This Beltsville-based company, parent of John Hanson Savings Bank FSB, reported a loss of $268,000 for its second fiscal quarter, which ended Dec. 31, in contrast to income of $44,000 for the same period a year earlier.
The troubled thrift company, with 15 branches in Maryland, said the loss resulted primarily from a $516,000 addition it made to the company's reserves against future loan losses.