Maryland Federal Bancorp Inc.

BY THE NUMBERS

December 27, 1991

This Hyattsville-based thrift reported yesterday that its earnings, boosted by lower interest rates, reached a record level in its third quarter.

The 104-year-old mortgage lender, which owns Maryland Federal Savings and Loan Association, said it earned nearly $1.7 million, or 59 cents a share, in the quarter, which ended Nov. 30. In the corresponding part of last year, Maryland Federal earned $998,000, or 33 cents a share.

Robert H. Halleck, president of Maryland Federal, attributed the 69 percent rise in earnings to "a tremendous boost" the thrift received from the drop in rates and the "excellent quality" of the thrift's mortgage loans.

Maryland Federal, which has 19 branches in Prince George's, Montgomery, Charles and Anne Arundel counties, had more than $799 million in assets as of Nov. 30. Core deposits rose 11 percent during the past year, Mr. Halleck said, thanks to a shift in consumers' money to better-capitalized institutions. Maryland Federal's capital ratios far exceeded levels required by regulators.

Mr. Halleck said roughly 80 percent of the thrifts loans were to owners of single-family homes within 50 miles of Washington. Of those, more than 55 percent were fixed-rate, giving the thrift higher profits as rates dropped and the cost of funds fell faster than the amount collected on loans.

Three months ended 11/30/91

... ... ...... income... ... ... Share

'91... ... 1,687,000... ... ... 0.59

'90... ... . 998,000... ... ... 0.33

% change... ... +69.0... ... ... +78.8

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

'91... .799,397,000... . 658,867,000

'90... 759,706,000... .. 592,861,000

% change... ... +5.2... ... ... .+11.1

Nine months ended 11/30/91

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

'91... ... 4,254,000... ... ... 1.50

'90... ... 2,729,000... ... ... 0.90

% change... ... +55.9... ... ... +66.7

Portfolio(Three months ended 11/30/91)

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

'91... ... ... . 655,872,000... ... ... ... ... ... ... ... ..8,200 dTC '90... ... ... . 654,577,000... ... ... ... ... ... ... ... ... ..NA

% change... ... ... ... +0.2... ... ... ... ... ... ... ... ... ...NA

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

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

'91... ... ... ... . 520,000... ... ... ... ... ... ... . 2,309,876

'90... ... ... ... . 210,000... ... ... ... ... ... ... ... 760,185

% change... ... ... .. +147.6... ... ... ... ... ... ... ... . +203.9

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