Bank Maryland loss deepens in quarter

April 26, 1991|By Peter H. Frank

Bank Maryland Corp., parent of the Bank of Maryland, reported yesterday that its first-quarter loss deepened slightly this year as a "continuing slow economy" maintained its dampening effect on the company's earnings.

Unlike many of its large competitors, whose increasing pile of problem loans directly led to their recent losses, Bank Maryland's results were primarily blamed on the after-effect of troubled loans and the income from interest that has been lost as these loans soured.

The Towson-based company is also moving to capture the benefits of the bank's reorganization last year when Bank Maryland's six banking subsidiaries merged into its flagship Bank of Maryland unit.

Speaking at yesterday's annual meeting, H. F. "Bert" Criste, chairman and acting chief executive of Bank Maryland, told shareholders that the banking company was firmly on its new course, moving to gather new deposits and focus on making loans to small- and medium-sized commercial customers.

"I'm encouraged in that our bank is going to work hard toward profitability," Mr. Criste, who is also the company's largest stockholder, toldthe group.

*Three months ended 3/31/91

.. .. .. .. .. Income .. .. .. .. .. .. Share

'91 .. .. ..(165,000) .. .. .. .. .. .(0.08)

'90 .. .. .. (132,000) .. .. .. .. .. .(0.06)

% change .. .. .. .-- .. .. .. .. .. .. .. --

.. .. .. .. .. Assets .. .. .. .. .. .Deposits

'91 .. .. 210,761,000 .. .. .. .. 188,164,000

'90 .. ...238,585,000 .. .. .. .. 200,212,000

% change .. .. ..-11.7 .. .. .. .. .. .. .-6.0

*Loan portfolio

.. .. .. ..Loans outstanding .. .. Net charge-offs

'91 .. . .. .. .154,415,000 .. .. .. .. . 37,000

'90 .. .. .. .. 159,169,000 .. .. .. .. .366,000

% change .. .. .. .. .. -3.0 .. .. .. .. .. .-89.9

.. .. .Addition to allowance .. .. .. .. Allowance

.. .. .. .. .for loan losses .. .. for loan losses

'91 .. .. .. .. .. .. 37,000 .. .. .. .. 3,798,000

'90 .. .. .. .. .. . 109,000 .. .. .. .. 2,509,000

% change .. .. .. . .. -66.1 .. .. .. .. .. .+51.4

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