CommerceFirst Bancorp Releases 2nd Quarter 2006 Financial Results
27 7월 2006 - 6:00AM
PR Newswire (US)
ANNAPOLIS, Md., July 26 /PRNewswire-FirstCall/ -- CommerceFirst
Bancorp, Inc., (NASDAQ:CMFB), the parent company of CommerceFirst
Bank, today released financial results for its 2nd quarter 2006
operations, as follows: CommerceFirst Bancorp, Inc., the holding
company for CommerceFirst Bank, reported a consolidated net profit
of $587 thousand for the six-month period ended June 30, 2006. This
reflected a 51.7% increase over the $387 thousand earned for the
six-month period ended June 30, 2005. The Company reported a net
profit of $302 thousand for the three-month period ended June 30,
2006 as compared to a net profit of $207 thousand for the
three-month period ended June 30, 2005. These results are
attributable to increased loans outstanding and an improved net
interest margin. Three Six Months Months 2006 2005 2006 2005
Revenues $2,087,392 $1,392,424 $3,973,364 $2,650,578 Earnings
before income tax 485,982 352,146 914,803 645,236 Income tax (1)
184,000 145,000 327,874 258,000 Net earnings 301,982 207,146
586,929 387,236 Earnings per basic and diluted share $0.17 $0.11
$0.33 $0.26 Average basic shares outstanding 1,803,583 1,803,583
1,803,583 1,489,123 Average diluted shares outstanding 1,849,632
1,822,711 1,846,976 1,509,459 (1) Includes federal and state income
taxes. Our plans for the balance of 2006 include exploration of
potential future branch sites, consideration of possible additions
to our lending and business development teams, and appropriate
investment in our operational infrastructure on both the loan and
deposit sides to insure our ability to deliver a very high quality
performance consistently to our customer base. Forward Looking
Statements. This press release includes forward looking statements
within the meaning of Section 21(e) of the Securities Exchange Act
of 1934. These statements are based on the Company's current
expectations and estimates as to prospective events and
circumstances that may or may not be in the Company's control and
as to which there can be no firm assurances given. These forward
looking statements are subject to risks and uncertainties; there
can be no assurance that any of these forward looking statements
may prove to be correct and actual results may differ materially.
DATASOURCE: CommerceFirst Bancorp, Inc. CONTACT: Richard J. Morgan,
President and Chief Executive Officer of CommerceFirst Bancorp,
Inc., +1-410-280-6695 Web site: http://www.commerce1st.com/
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