BALTIMORE -- Baltimore Bancorp anticipates continued profitability from its core operating businesses, chairman Edwin F. Hale Sr. said.

The prediction assumes loan-loss provisions consistent with those recorded in the first quarter, he said.

Speaking at the annual meeting, Mr. Hale said. "Our first-quarter profit of $ 5.1 million has set the pace for coming quarters and includes $ 2.7 million from the company's core banking operations."

Net income in last year's first quarter totaled $ 5.08 million, or 40 cents a share.

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