Columbia Bancorp's profit rises 20% to $2.98 million

April 17, 2004

Columbia Bancorp, the parent of Columbia Bank, reported a 20 percent increase in first-quarter net income yesterday as assets and loans increased.

The Columbia-based bank said it earned net income of $2.98 million, or 40 cents per diluted share, compared with $2.49 million, or 34 cents per share, in the first quarter of 2003. Loans totaled $865 million for the quarter ending March 31, compared with $696.3 million in the quarter last year.

The bank reported total assets of $1.08 billion, an increase of $90.2 million over the first quarter of 2003.

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