Hamilton Bancorp Inc. reported a loss of $335,000 in the first fiscal quarter of 2017, a 384 percent drop from a $118,000 profit in the April-to-June quarter last year.
The Towson parent company of Hamilton Bank attributed the loss to $674,000 in branch consolidation and acquisition costs related to its May acquisition of Fraternity Community Bancorp, the parent of Fraternity Federal Savings and Loan Association, in May.
The Towson parent company of Hamilton Bank had $522.8 million in assets at the end of June, up 79 percent from $291.4 million the same time last year. President and CEO Robert DeAlmeida attributed the growth to acquisitions and organic growth.
The Fraternity acquisition added $161 million to Hamilton’s assets.
Hamilton acquired Rosedale-based Fairmount Bank last year.
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