Hamilton Bancorp, Inc. (HBK) 10-K Annual Report June 2013

TOWSON, MD, May 7, 2013 – Hamilton Bancorp, Inc. (Nasdaq: HBK), today reported a net loss of $601,600, or a loss of $0.18 per share (basic and diluted), for the quarter-ended March 31, 2013, compared to a net loss of $911,500 for the quarter ended March 31, 2012. Net loss for the year ended March 31, 2013 was $172,000, or a loss of $0.05 per share (basic and diluted), compared to net income of $131,000 for the year ended March 31, 2012. Per share amounts for the prior year periods are not applicable as the net income reported is for Hamilton Bank prior to the completion of its mutual-to-stock conversion on October 10, 2012. As part of the conversion, Hamilton Bancorp became the Bank’s holding company and raised $35.6 million in net proceeds in a subscription offering.

Balance Sheet Review

Total assets at March 31, 2013 increased 4.2% to $332.0 million from $318.5 million at March 31, 2012. The increase in assets was primarily due to the $35.6 million in net proceeds from the Bank’s mutual-to-stock conversion. Investment securities increased $21.4 million to $116.2 million at March 31, 2013.

Total loans (net) decreased $10.6 million to $159.3 million at March 31, 2013 from $169.9 million at March 31, 2012, with the largest decline occurring in residential one- to four-family loans as such loans were repaid or refinanced and sold into the secondary market. The Bank continues to transform the composition of its loan portfolio by emphasizing commercial and commercial real estate lending which has resulted in residential loan balances declining and commercial real estate and commercial business loans increasing. Commercial real estate loans increased $5.2 million during fiscal 2013, and accounted for 22.4% of gross loans at March 31, 2013 compared to 17.9% at March 31, 2012. While commercial business loans decreased $199,000 during fiscal 2013, such loans increased as a percentage of gross loans, representing 16.7% of gross loans at March 31, 2013 compared to 15.7% at March 31, 2012.

Total deposits were $260.1 million at March 31, 2013, compared to $281.0 million at March 31, 2012. The decline in deposits was due in part to the withdrawal of funds used to purchase Company stock in the Bank’s mutual-to-stock conversion and the maturity of higher-costing certificates of deposit. The Company remains focused on changing its deposit mix to rely less on certificates of deposit as a primary funding source and more on checking and savings accounts.

Total stockholders’ equity at March 31, 2013 was $67.4 million, compared to total equity of $35.1 million at March 31, 2012. The increase was primarily attributable to the proceeds from the Bank’s mutual-to-stock conversion. The Company’s book value per common share at March 31, 2013 was $19.71. At that same date, tangible book value per share equaled $18.87.

The following information was filed by Hamilton Bancorp, Inc. (HBK) on Tuesday, May 7, 2013 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.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/1551739/000119312513277106/d524278d10k.htm

View differences made from one year to another to evaluate Hamilton Bancorp, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Hamilton Bancorp, Inc..

Continue

Assess how Hamilton Bancorp, Inc.'s management team is paid from their Annual Proxy

Hamilton Bancorp, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Hamilton Bancorp, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 21.0: Subsidaries Of The Registrant

Exhibit 23.0: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.0: Section 1350 Certification

Ticker: HBK
CIK: 1551739
Form Type: 10-K Annual Report
Accession Number: 0001193125-13-277106
Submitted to the SEC: Fri Jun 28 2013 3:47:08 PM EST
Accepted by the SEC: Fri Jun 28 2013
Period: Sunday, March 31, 2013
Industry: Savings Institution Federally Chartered

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/hbk/0001193125-13-277106.htm

Hamilton Bancorp, Inc. (HBK) SEC Filing 10-K Annual report for the fiscal year ending Sunday, March 31, 2013

SEC Filings

HBK Valuations

HBK Annual Reports

HBK Quarterly Reports

HBK Corporate News