Frederick County Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net income of $891,000 or $0.57 per diluted per share, as compared to $352,000 or $0.23 per diluted per share a year ago. Total interest income was $3,377,000 compared to $3,296,000 a year ago. Net interest income was $2,979,000 compared to $2,883,000 a year ago. Net interest income after provision for loan losses was $3,157,000 compared to $2,883,000 a year ago. Income before provision for income taxes was $1,364,000 compared to $495,000 a year ago. Return on average assets was 1.00% compared to 0.42% a year ago. Return on average equity was 12.17% compared to 5.04% a year ago. The increase in quarterly earnings was due primarily to increases in net interest income in the amount of $96,000 and in total noninterest income in the amount of $438,000, and a decrease in total noninterest expense of $157,000 in the fourth quarter of 2015 as compared to the fourth quarter of 2014.

For the year, the company reported net income of $2,104,000 or $1.36 per diluted per share, as compared to $1,714,000 or $1.12 per diluted per share a year ago. Total interest income was $13,172,000 compared to $13,022,000 a year ago. Net interest income was $11,571,000 compared to $11,339,000 a year ago. Net interest income after provision for loan losses was $11,749,000 compared to $11,339,000 a year ago. Income before provision for income taxes was $3,099,000 compared to $2,496,000 a year ago. Net cash provided by operating activities was $2,342,000 compared to $2,190,000 a year ago. Return on average assets was 0.60% compared to 0.52% a year ago. Return on average equity was 7.31% compared to 6.28% a year ago. The increase in year-to-date earnings was due primarily to an increase in net interest income to $11.6 million for the year 2015 as compared to $11.3 million in the same period of 2014, and to an increase in total noninterest income to $1.9 million for the year 2015 as compared to $1.2 million for the same period in 2014.