LAUREL, Md. - Citizens Bancorp posted earnings of $8.6 million in the first quarter, 20% more than a year earlier.

Earnings per share also increased 21%, to 58 cents, the $3.8 billion- asset bank said. Capital, which amounted to $315 million, and assets reached all-time highs for the bank.

Total deposits declined slightly to $2.9 billion, reflecting the bank's move to retire $112 million in brokered CDs.

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