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BALTIMORE (AP) _ Howard Bancorp Inc. (HBMD) on Wednesday reported fourth-quarter profit of $4.5 million.
The bank, based in Baltimore, said it had earnings of 24 cents per share. Earnings, adjusted for non-recurring costs, were 29 cents per share.
The bank holding company posted revenue of $23.9 million in the period. Its revenue net of interest expense was $21.8 million, which beat Street forecasts.
For the year, the company reported a loss of $17 million, or 91 cents per share, swinging to a loss in the period. Revenue was reported as $86 million.
Howard Bancorp shares have increased almost 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.60, a fall of 29% in the last 12 months.