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Carroll Bancorp, Inc. (CROL) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Carroll Bancorp, Inc.

CIK: 1515069 Ticker: CROL

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact: Russell J. Grimes

President and Chief Executive Officer

(410) 795-1900

Carroll Bancorp, Inc. Announces Fourth Quarter and Year-End Results

SYKESVILLE, MD – January 20, 2015

– Carroll Bancorp, Inc. (the “Company”) (OTCQB: CROL), the parent company of Carroll Community Bank (the “Bank”), today announced net income of $118,000 or $0.26 per diluted common share for the three months ended and net income of $390,000 or $0.90 per diluted common share for the twelve months ended December 31, 2014. By comparison, the Company recorded net income of $47,000 or $0.14 per diluted common share for the three months ended and net income of $222,000 or $0.66 per diluted common share for the twelve months ended December 31, 2013.

Total assets grew by $8.2 million, or 7.6%, compared to December 31, 2013, to $115.9 million. Most of that growth was in our loan portfolio which grew by $6.5 million, or 7.8%, to $90.7 million at December 31, 2014. Nonperforming loans at December 31, 2014 decreased by $570,000 to $479,000 compared to December 31, 2013 and total nonperforming assets decreased during 2014 by $979,000, or 64.8%, to $532,000. The ratio of nonperforming loans to total loans was 0.53% and 1.25%, respectively, at December 31, 2014 and 2013 and the ratio of total nonperforming assets to total assets was 0.46% and 1.40%, respectively, at December 31, 2014 and 2013.

Net interest income was $3.8 million for the twelve months ended December 31, 2014, an increase of 6.8% from the same period in 2013 as interest income remained relatively flat and interest expense declined by 20.1%. Our net interest margin remained strong at 3.67% for the year ending December 31, 2014 compared to 3.60% for the year ending December 31, 2013. Noninterest expense also remained relatively flat remaining at $3.4 million for the year ended December 31, 2014 compared to the year ended December 31, 2013.

“The Company continued to make significant progress in 2014, exceeding our strategic goals for the year. Net income increased by $169,000, or 76%, compared to 2013 as our net interest income increased and our net interest margin continued to improve, exceeding our FDIC peer group. Additionally, our asset quality metrics continue to outperform our state and national peer groups.” stated Russell J. Grimes, President and CEO of Carroll Bancorp, Inc.

Carroll Bancorp, Inc.’s common stock trades on the OTC Markets (www.otcmarkets.com) under the symbol “CROL.” For more information, visit our website at www.carrollcobank.com or contact Russell Grimes, President & CEO at 410-795-1900.

About Carroll Bancorp, Inc. and Carroll Community Bank

Carroll Bancorp, Inc. is the holding company of Carroll Community Bank. Carroll Community Bank, originally founded in 1870, is a state-chartered commercial bank with branch offices in the towns of Eldersburg and Westminster in Carroll County, Maryland. Carroll Community Bank operates as a community-oriented institution, offering a variety of loan and deposit products and serving the financial needs of its local community.


The following information was filed by Carroll Bancorp, Inc. (CROL) on Friday, January 23, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Financial Condition
Consolidated Statements Of Financial Condition (parenthetical)
Consolidated Statements Of Operations
Borrowings
Borrowings (tables)
Borrowings - Additional Information (detail)
Borrowings - Schedule Of Federal Home Loan Bank Advances (detail)
Borrowings - Scheduled Maturities Of Fhlb Advances (detail)
Commitments, Contingent Liabilities, And Off-balance Sheet Arrangements
Commitments, Contingent Liabilities, And Off-balance Sheet Arrangements (tables)
Commitments, Contingent Liabilities, And Off-balance Sheet Arrangements - Additional Information (detail)
Commitments, Contingent Liabilities, And Off-balance Sheet Arrangements - Outstanding Loan Commitments And Lines Of Credit (detail)
Credit Quality Of Loans And Allowance For Loan Losses
Credit Quality Of Loans And Allowance For Loan Losses (tables)
Credit Quality Of Loans And Allowance For Loan Losses - Additional Information (detail)
Credit Quality Of Loans And Allowance For Loan Losses - Allowance For Loan Losses, Disaggregated By Impairment Methodology (detail)
Credit Quality Of Loans And Allowance For Loan Losses - Summary Of Allowance For Loan Losses Activity (detail)
Credit Quality Of Loans And Allowance For Loan Losses - Summary Of Average Recorded Investment And Interest Income Foregone Recognized On Impaired Loans By Portfolio Segment (detail)
Credit Quality Of Loans And Allowance For Loan Losses - Summary Of Impaired Loans By Portfolio Segment (detail)
Credit Quality Of Loans And Allowance For Loan Losses - Summary Of Impaired Loans Modified Pursuant To Troubled Debt Restructuring (detail)
Credit Quality Of Loans And Allowance For Loan Losses - Summary Of Loan Delinquencies By Portfolio Segment (detail)
Credit Quality Of Loans And Allowance For Loan Losses - Summary Of Loan Portfolio Quality Indicators By Portfolio Segment (detail)
Credit Quality Of Loans And Allowance For Loan Losses - Summary Of Performing And Nonperforming Impaired Loans By Portfolio Segment (detail)
Defined Contribution Benefit Plan
Defined Contribution Benefit Plan - Additional Information (detail)
Deposits
Deposits (tables)
Deposits - Additional Information (detail)
Deposits - Summary Of Certificates Of Deposit By Maturity Date Ranges (detail)
Deposits - Summary Of Deposit Product Segment (detail)
Earning Per Share - Earning Per Share Calculation Details (detail)
Earnings Per Share
Earnings Per Share (tables)
Employee Stock Ownership Plan
Employee Stock Ownership Plan (tables)
Employee Stock Ownership Plan - Additional Information (detail)
Employee Stock Ownership Plan - Shares Held By The Esop Trust (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Estimated Fair Values Of Financial Instruments (detail)
Fair Value Measurements - Reconciliation Of Beginning And Ending Balances For Level 3 Assets (detail)
Fair Value Measurements - Summary Of Financial Assets Measured At Fair Value On Non-recurring Basis (detail)
Fair Value Measurements - Summary Of Financial Assets Measured At Fair Value On Recurring Basis (detail)
Foreclosed Assets
Foreclosed Assets (tables)
Foreclosed Assets - Foreclosed Assets Activity (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Summary Of Components Of The Net Deferred Tax Assets (detail)
Income Taxes - Summary Of Income Tax Expense (detail)
Income Taxes - Summary Of Reconciliation Of The Statutory Income Tax Rate (detail)
Loans
Loans (tables)
Loans - Summary Of Loans (detail)
Other Comprehensive Income
Other Comprehensive Income (tables)
Other Comprehensive Income - Schedule Of Amount Reclassified Out Of Accumulated Other Comprehensive Income (loss) (detail)
Other Comprehensive Income - Schedule Of Changes In Accumulated Comprehensive Income (loss), Net Of Tax (detail)
Other Comprehensive Income - Schedule Of Components Of Other Comprehensive Income (loss) (detail)
Parent Company Only Financial Statements
Parent Company Only Financial Statements (tables)
Parent Company Only Financial Statements - Schedule Of Condensed Balance Sheets (detail)
Parent Company Only Financial Statements - Schedule Of Condensed Balance Sheets (parenthetical) (detail)
Parent Company Only Financial Statements - Schedule Of Condensed Statements Of Cash Flows (detail)
Parent Company Only Financial Statements - Schedule Of Condensed Statements Of Operations (detail)
Premises And Equipment
Premises And Equipment (tables)
Premises And Equipment - Additional Information (detail)
Premises And Equipment - Rental Commitment Under Lease (detail)
Premises And Equipment - Summary Of Premises And Equipment (detail)
Regulatory Matters And Capital Requirements
Regulatory Matters And Capital Requirements (tables)
Regulatory Matters And Capital Requirements - Additional Information (detail)
Regulatory Matters And Capital Requirements - Schedule Of Reconciliation Of Company's Consolidated Equity (detail)
Regulatory Matters And Capital Requirements - Schedule Of Reconciliation Of Company's Consolidated Equity (parenthetical) (detail)
Regulatory Matters And Capital Requirements - Summary Of Bank's Capital Position (detail)
Related Party Transactions
Related Party Transactions (tables)
Related Party Transactions - Summary Of Activity For Related Party Loans (detail)
Securities
Securities (tables)
Securities - Additional Information (detail)
Securities - Amortized Cost And Estimated Fair Value Of Securities By Contractual Maturity (detail)
Securities - Amortized Cost, Gross Unrealized Gains And Losses And Estimated Market Value Of Securities Available For Sale And Held To Maturity (detail)
Securities - Securities With Gross Unrealized Losses (detail)
Share-based Compensation
Share-based Compensation (tables)
Share-based Compensation - Additional Information (detail)
Share-based Compensation - Summary Of The Restricted Stock Award Activity (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Additional Information (detail)
Ticker: CROL
CIK: 1515069
Form Type: 10-K Annual Report
Accession Number: 0001193125-15-085628
Submitted to the SEC: Tue Mar 10 2015 6:08:43 PM EST
Accepted by the SEC: Wed Mar 11 2015
Period: Wednesday, December 31, 2014
Industry: State Commercial Banks

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