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Hamilton Bancorp, Inc. (HBK) SEC Filing 10-K Annual report for the fiscal year ending Thursday, March 31, 2016

Hamilton Bancorp, Inc.

CIK: 1551739 Ticker: HBK
 
[HAMILTON BANCORP, LETTERHEAD]
FOR IMMEDIATE RELEASE
 
INVESTOR CONTACT:
Bob DeAlmeida
President & CEO
Hamilton Bank
410-823-4510
 
MEDIA CONTACT:
Kathy Walsh
Director of Marketing
Fallston Group, LLC
410-420-2001
kathy.walsh@fallstongroup.com
 

 
Hamilton Bancorp, Inc. Reports Improved Earnings and Strong Loan Growth for the Fourth Quarter and Fiscal Year Ending March 31, 2016
 
TOWSON, Md. (May 5, 2016)—Hamilton Bancorp, Inc. (the “Company”) (NASDAQ: HBK), the parent company of Hamilton Bank (the “Bank”), today announced its operating results for the fiscal year and three month period ending March 31, 2016 with the following highlights:
 
●   
Continued organic growth and the acquisition of Fairmount Bancorp, Inc. (“Fairmount”) resulted in $393 million in total assets at March 31, 2016, representing growth of $102 million, or 35%, compared to total assets of $291 million at March 31, 2015. Total loans at March 31, 2016 increased by $63 million, or 39%, to $223 million year over year.
 
●  
Total deposits increased $92 million, or 41%, to $314 million at March 31, 2016, compared to total deposits of $222 million at March 31, 2015.
 
●  
Net income, excluding the effect of $71,000 in acquisition related expenses, was $159,000, or $0.05 per common share for the Company, for the quarter ending March 31, 2016, compared to a net loss of $141,000, or $(0.04) per common share, for the same quarter ending March 31, 2015. The Company reported net income of $117,000 including acquisition-related expenses, or $0.04 per common share for the quarter ending March 31, 2016.
 
●  
Net interest income for the fourth quarter ending March 31, 2016 was $2.6 million, an increase of $635,000, or 32%, compared to $2.0 million for the same period a year ago.
 
●  
For the fiscal year ending March 31, 2016, pre-tax income of $1.24 million was reported, before adjusting for one-time acquisition related expenses, compared to a pre-tax loss of $578,000 for fiscal 2015—an improvement of $1.8 million compared to the same period a year ago.  The Company reported a net loss after acquisition related expenses and tax of $93,000, or $(0.03) per common share for fiscal 2016, compared to a net loss of $314,000, or $(0.10) per common share, for the same period a year ago.
 
 
“This past year marked several major milestones for Hamilton as we celebrated 100 years of community banking and grew commercial loans and core deposits while successfully completing our acquisition of a local community bank,” said Robert DeAlmeida, President and CEO.  “We look forward to concluding our second acquisition and continued organic growth in loans and deposits, while always looking for ways to operate more efficiently.”
 

 

 
 

The following information was filed by Hamilton Bancorp, Inc. (HBK) on Wednesday, June 1, 2016 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
Note 20 - Condensed Financial Statements Of Parent Company
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (parentheticals)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Financial Condition
Consolidated Statements Of Financial Condition (parentheticals)
Consolidated Statements Of Operations
Note 1 - Nature Of Operations And Summary Of Significant Accounting Policies
Note 1 - Nature Of Operations And Summary Of Significant Accounting Policies (details Textual)
Note 10 - Goodwill And Other Intangible Asset
Note 10 - Goodwill And Other Intangible Asset (details Textual)
Note 10 - Goodwill And Other Intangible Asset (tables)
Note 10 - Goodwill And Other Intangible Asset - Activity In Goodwill And Acquired Intangible Assets Related To Branch Purchase (details)
Note 10 - Goodwill And Other Intangible Asset - Future Expected Annual Amortization Associated With Core Deposit Intangible (details)
Note 11 - Derivative - Interest Rate Swap Agreement
Note 11 - Derivative - Interest Rate Swap Agreement (details Textual)
Note 11 - Derivative - Interest Rate Swap Agreement (tables)
Note 11 - Derivative - Interest Rate Swap Agreement - Summary Of Fair Value Hedge (details)
Note 12 - Deposits
Note 12 - Deposits (details Textual)
Note 12 - Deposits (tables)
Note 12 - Deposits - Composition Of Deposits And Related Percentage Mix Of Total Deposits (details)
Note 12 - Deposits - Schedule Of Maturity Of Time Deposits (details)
Note 13 - Lines Of Credit And Federal Home Loan Bank Advances
Note 13 - Lines Of Credit And Federal Home Loan Bank Advances (details Textual)
Note 13 - Lines Of Credit And Federal Home Loan Bank Advances (tables)
Note 13 - Lines Of Credit And Federal Home Loan Bank Advances - Federal Home Loan Bank Advances (details)
Note 14 - Income Taxes
Note 14 - Income Taxes (details Textual)
Note 14 - Income Taxes (tables)
Note 14 - Income Taxes - Provisions For Income Taxes (details)
Note 14 - Income Taxes - Reconciliation Of Provision For Taxes (details)
Note 14 - Income Taxes - Summary Of Tax Effects Of Temporary Differences That Gave Rise To Deferred Tax Assets And Liabilities (details)
Note 15 - Regulatory Capital Ratios
Note 15 - Regulatory Capital Ratios (details Textual)
Note 15 - Regulatory Capital Ratios (tables)
Note 15 - Regulatory Capital Ratios - Capital Ratios And Minimum Capital Requirements Of Bank (details)
Note 16 - Defined Contribution Retirement Plan
Note 16 - Defined Contribution Retirement Plan (details Textual)
Note 17 - Employee Stock Ownership Plan
Note 17 - Employee Stock Ownership Plan (details Textual)
Note 17 - Employee Stock Ownership Plan (tables)
Note 17 - Employee Stock Ownership Plan - Esop Disclosure (details)
Note 18 - Stock Based Compensation
Note 18 - Stock Based Compensation (details Textual)
Note 18 - Stock Based Compensation (tables)
Note 18 - Stock Based Compensation - Schedule Of Nonvested Restricted Stock Awards (details)
Note 18 - Stock Based Compensation - Summary Of Changes In Nonvested Shares (details)
Note 18 - Stock Based Compensation - Summary Of Stock Option Activity (details)
Note 18 - Stock Based Compensation - Weighted-average Assumptions As Of Grant Date For Options Outstanding (details)
Note 19 - Fair Value Measurements
Note 19 - Fair Value Measurements (details Textual)
Note 19 - Fair Value Measurements (tables)
Note 19 - Fair Value Measurements - Calculation Of Estimated Fair Values Based On Market Conditions At Specific Point Of Time (details)
Note 19 - Fair Value Measurements - Derivative Instruments, Fair Value Disclosure (details)
Note 19 - Fair Value Measurements - Impaired Loans And Foreclosed Real Estate, Measurements On Nonrecurring Basis (details)
Note 19 - Fair Value Measurements - Investment Securities Available For Sale, Measurements On Recurring Basis (details)
Note 19 - Fair Value Measurements - Reconciliation Of Foreclosed Real Estate, Measured On Nonrecurring Basis Using Significant Unobservable Inputs (details)
Note 19 - Fair Value Measurements - Valuation And Unobservable Inputs For Level 3 Assets On Nonrecurring Basis (details)
Note 2 - New Accounting Pronouncements
Note 20 - Condensed Financial Statements Of Parent Company (tables)
Note 20 - Condensed Financial Statements Of Parent Company - Condensed Statements Of Cash Flows (details)
Note 20 - Condensed Financial Statements Of Parent Company - Condensed Statements Of Financial Condition (details)
Note 20 - Condensed Financial Statements Of Parent Company - Condensed Statements Of Operations (details)
Note 3 - Acquisition Of Fairmount Bancorp, Inc.
Note 3 - Acquisition Of Fairmount Bancorp, Inc. (details Textual)
Note 3 - Acquisition Of Fairmount Bancorp, Inc. (tables)
Note 3 - Acquisition Of Fairmount Bancorp, Inc. - Acquired Loans (details)
Note 3 - Acquisition Of Fairmount Bancorp, Inc. - Allocation Of Preliminary Purchase Price (details)
Note 3 - Acquisition Of Fairmount Bancorp, Inc. - Merger Related Expenses Included In Consolidated Statements Of Operations (details)
Note 3 - Acquisition Of Fairmount Bancorp, Inc. - Pro Forma Condensed Combined Financial Information (details)
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share (details Textual)
Note 4 - Earnings Per Share (tables)
Note 4 - Earnings Per Share - Basic And Diluted Earnings Per Share (details)
Note 5 - Correspondent Bank Relationships
Note 5 - Correspondent Bank Relationships (details Textual)
Note 6 - Investment Securities Available For Sale
Note 6 - Investment Securities Available For Sale (details Textual)
Note 6 - Investment Securities Available For Sale (tables)
Note 6 - Investment Securities Available For Sale - Amortized Cost And Estimated Fair Value Of Debt Securities By Contractual Maturity (details)
Note 6 - Investment Securities Available For Sale - Amortized Cost And Fair Value Of Securities (details)
Note 6 - Investment Securities Available For Sale - Securities In A Continuous Unrealized Loss Position (details)
Note 7 - Loans Receivable And Allowance For Loan Losses
Note 7 - Loans Receivable And Allowance For Loan Losses (details Textual)
Note 7 - Loans Receivable And Allowance For Loan Losses (tables)
Note 7 - Loans Receivable And Allowance For Loan Losses - Balance Of Allowance For Loan Losses By Portfolio Segment (details)
Note 7 - Loans Receivable And Allowance For Loan Losses - Balances Of Classified Loans Based On Risk Grade (details)
Note 7 - Loans Receivable And Allowance For Loan Losses - Impaired Loans (details)
Note 7 - Loans Receivable And Allowance For Loan Losses - Loans Receivable Excluding Loans Held For Sale (details)
Note 7 - Loans Receivable And Allowance For Loan Losses - Number Of Contracts And Outstanding Loan Balance At Time Of Modification (details)
Note 7 - Loans Receivable And Allowance For Loan Losses - Outstanding Commitments And Unused Lines Of Credit (details)
Note 7 - Loans Receivable And Allowance For Loan Losses - Past Due Loans, Segregated By Age And Class Of Loans (details)
Note 7 - Loans Receivable And Allowance For Loan Losses - Summary Of Changes In The Accretable Yield For Pci Loans (details)
Note 7 - Loans Receivable And Allowance For Loan Losses - Summary Of Changes In The Recorded Investment Of Purchased Credit Impaired (pci) (details)
Note 7 - Loans Receivable And Allowance For Loan Losses - Summary Of Troubled Debt Restructurings (details)
Note 8 - Related Party Transactions
Note 8 - Related Party Transactions (details Textual)
Note 8 - Related Party Transactions (tables)
Note 8 - Related Party Transactions - Activity In Loans (details)
Note 9 - Premises And Equipment And Premises And Equipment Held For Sale
Note 9 - Premises And Equipment And Premises And Equipment Held For Sale (details Textual)
Note 9 - Premises And Equipment And Premises And Equipment Held For Sale (tables)
Note 9 - Premises And Equipment And Premises And Equipment Held For Sale - Minimum Future Rental Commitment (details)
Note 9 - Premises And Equipment And Premises And Equipment Held For Sale - Summary Of Premises And Equipment And Related Depreciation And Amortization (details)
Significant Accounting Policies (policies)
Ticker: HBK
CIK: 1551739
Form Type: 10-K Annual Report
Accession Number: 0001437749-16-034628
Submitted to the SEC: Wed Jun 29 2016 5:21:57 PM EST
Accepted by the SEC: Wed Jun 29 2016
Period: Thursday, March 31, 2016
Industry: Savings Institution Federally Chartered

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