In Brief: Provident Bankshares' Profits Surged 42%

BALTIMORE - to $3.7 million. The higher earnings were attributed to a 17.5% increase in net interest income. That was achieved primarily by a 27% jump in average earning assets, which stood at $2.3 billion at the end of the quarter. Nonperforming assets jumped 31% in the quarter, to $8.9 million. Net chargeoffs were $93,000, as compared with net recoveries of $207,000 in the equivalent period a year earlier. Returns on assets and equity were 0.67% and 9.39%, respectively, up from last year.