Columbia Bancorp in Columbia, Md., announced Monday first-quarter earnings of $3.8 million, up 28.4% from a year earlier.
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The $1.2 billion-asset company attributed this increase to a 19% jump in net interest income, to $2 million, thanks to a 13% increase in loans.
Noninterest income slipped 7%, to $1.6 million. One reason, Columbia said, was a decline in deposit account service charges, which included lower fees for covering overdrafts. The company's already impressive asset quality improved even further.
Nonperforming assets dropped to 0.07% of loans, half the year-earlier figure.
