Provident posts strong earnings for 2nd quarter Profits also solid at First Maryland

July 22, 1993|By David Conn | David Conn,Staff Writer

Provident Bankshares Inc. yesterday joined the ranks of Maryland banking companies that have reported strong second-quarter earnings in recent weeks, completing its third quarter in a row of more-than-doubled profits.

Provident .. .. .. .. .. .. .. Ticker .. .. .. .. Yesterday's

Bankshares Corp. .. .. .. .. .. Symbol .. .. .. ..Cls. .. .. Chg.

.. .. .. .. .. .. .. .. .. .. .. PBKS .. .. .. .. 15 3/8 .. .. .. +

Period ended

June 30 .. .. .. .. .. .. .. ..2nd qtr. .. .. .. Year ago .. Chg.

Net Income .. .. .. .. .. .. ..$1,905 .. .. .. .. $904 .. .. +110.7%

Primary EPS .. .. .. .. .. .. ..$0.29 .. .. .. .. $0.14 .. ..+107.1%

Annualized return

on average assets .. .. .. .. ..0.45% .. .. .. .. .0.24%

Add. to allowance

for loan losses.. .. .. .. .. .. $181 .. .. .. .. $1,800 .. .. 89.9%

.. .. .. .. .. .. .. .. .. .. .. 6 mos. .. .. .. .. Year ago .. .. Chg.

Net Income .. .. .. .. .. .. .. $3,508 .. .. .. .. .. 1,510 .. .. +132.3%

Primary EPS .. .. .. .. .. .. .. $0.54 .. .. .. .. .. $0.24 .. .. +125

Annualized return

on average assets .. .. .. .. .. 0.43% .. .. .. .. .. 0.20%

Add. to allowance

for loan losses.. .. .. .. .. .. $1,046 .. .. .. .. .. $3,050 .. .. -65.7%

.. .. .. .. .. .. .. .. .. .. .. .. Balances as of

.. .. .. .. .. .. .. .. 6/30/93 .. .. .. .. .. .. 6/30/92

Assets .. .. .. .. .. $1,672,238 .. .. .. .. .. ..$1,537,189 .. .. .. +8.8%

Deposits.. .. .. .. ..$1,260,155 .. .. .. .. .. ..$1,211,527 .. .. .. +4.0%

Loans outst .. .. .. .. $916,841.. .. .. .. .. .. ..$644,942 .. .. ..+42.2%

Loan loss

reserve.. .. .. .. .. .. $20,660 .. .. .. .. .. . .. $18,244 .. .. ..+13.2%

Figures in thousands (except per share data.)

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