Howard Bancorp Inc., parent of Howard Bank, saw fourth-quarter earnings of $103,000, down 68 percent from $322,000 during the same quarter of 2007.
The bank said it earned $337,000 in 2008, down 77 percent from $1.5 million in 2007. Before taxes, however, the bank earned $570,000 last year, up from $956,000 in 2007.
“Howard Bank is pleased to be growing, profitable and investing in our future despite the economic storm impacting both our marketplace and parts of our industry,” Howard Chairman and Chief Executive Officer Mary Ann Scully said in a statement.
