Earnings rise 16.3% for Citizens $36.1 million for 1994 is a record

January 23, 1996|By FROM STAFF REPORTS

Citizens Bancorp earned a record $36.1 million for the year, up 16.3 percent from 1994 earnings, the Laurel-based company said yesterday.

Fourth-quarter earnings were virtually flat at $9.3 million, compared with $9.4 million in 1994.

Citizens' assets were up 8 percent, to $4 billion. Loans and deposits increased 10 and 7 percent respectively.

The company earned $2.40 a share, compared with $2.09 for 1994.

Towson-based Harbor Federal Bancorp Inc. and First Citizens Financial Corp. of Gaithersburg also announced earnings yesterday.

Harbor earned $848,000 for the first nine months of its fiscal year ended Dec. 31, down from earnings of $1.2 million in 1994. In the third quarter, Harbor earned $166,000, down from $491,000 in the year-ago period.

Harbor, a $154.2 million-asset banking company, earned 45 cents a share for the nine-month period, and 9 cents for the most recent quarter.

First Citizens earned $1.2 million in the fourth quarter, up 41 percent from the same period in 1994.

The company earned $4.1 million for the full year, up 13 percent from a year ago.

First Citizens earned $1.43 a share for the year, compared with $1.28 a year ago.

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