Frederick County Bancorp Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter ended September 30, 2016, the company recorded net income of $457,000 and diluted earnings per share of $0.30, as compared to net income of $378,000 and diluted earnings per share of $0.24 recorded for the third quarter of 2015. The increase in quarterly earnings was due primarily to an increase in net interest income to $3.16 million in the third quarter of 2016 as compared to $2.87 million in the third quarter of 2015, resulting from a 13 basis point increase in the net interest margin and increased loan volume, which was offset by an increase in total noninterest expense to $2.75 million in the third quarter of 2016 from $2.73 million in the third quarter of 2015, a $50,000 in provision for loan losses in the third quarter of 2016, as compared to no provision expense in the same period of 2015, and a decrease in total noninterest income to $312,000 in the third quarter of 2016 from $394,000 in the third quarter of 2015. Return on average assets was 0.49% compared to 0.43% a year ago. Return on average equity was 5.87% compared to $5.24% a year ago. Book value per share was $20.78 compared to $19.52 a year ago. The company earned $1.1 million with diluted earnings per share of $0.72 for the nine months ended on September 30, 2016, as compared to $1.2 million in earnings and diluted earnings per share of $0.79 for the same period in 2015. The slight decrease in year-to-date earnings was due primarily to an increase in total noninterest expense to $8.3 million in the first nine months of 2016 as compared to $8.0 million in the first nine months of 2015, which added to the overall decrease in total noninterest income of $332,000 in the first nine months of 2016 as compared to the first nine months of 2015. Earnings for the first nine months of 2016 were also impacted by $250,000 in provisions for loan losses, as compared to no provision expense in the same period of 2015. Return on average assets were 0.41% compared to 0.47% a year ago. Return on average equity was 4.84% compared to 5.65% a year ago. Book value per share was $20.78 compared to $19.52 a year ago. Net cash provided by operating activities was $1,772,000 compared to $1,550,000 a year ago. Purchases of bank premises and equipment were $1,476,000 compared to $160,000 a year ago.