HYATTSVILLE, Md. -- Maryland Federal Bancorp said it expects to report net income for the quarter ended Nov. 30 of about $2,972,000, or 89 cents a share.
The company said it earned $2,891,000, or 88 cents a share, in the comparable quarter a year ago.
Maryland Federal said it estimates net income for the nine months ended Nov. 30 was $9,677,000, or $2.89 a share, up 30.4% from $7,419,000, or $2.26 a share, earned in the corresponding nine-month period a year ago.
The company said, "Mortgage activity has been strong in the bank's market area, which is concentrated in four Maryland counties in the Washington, D.C., metropolitan area."