Hamilton Bancorp Q4 Loss Narrows, Provision For Loan Losses Fall

(RTTNews) - Hamilton Bancorp, Inc. (HBK) reported a net loss of $385,000 or $0.12 per share for the quarter ended March 31, 2014, compared to a net loss of $602,000 or $0.18 per share for the same quarter in 2013.

The latest results included several larger expenses, including a $340,000 write down of foreclosed real estate, a $75,000 legal bill associated with a participation loan in which Hamilton Bank is not the lead lender and additional salary expense incurred with the retirement of an executive.

Net interest income slid to $2.02 million from $2.06 million in the priro year. Provision for loan losses fell to $75 thousand from $1.34 million.

Total non-interest revenue dropped to $257 thousand from $324 thousand.