Frederick County Bancorp Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company recorded net income of $276,000 and basic and diluted earnings per share of $0.18, as compared to net income of $344,000 and basic and diluted earnings per share of $0.23 recorded for the fourth quarter of 2011. Net interest income was $2,725,000 compared to $2,671,000 for the same period a year ago. Income before provision for income taxes was $352,000 compared to $476,000 for the same period a year ago. Return on average assets was 0.35% compared to 0.47% for the same period a year ago. Return on average equity was 4.15% compared to 5.43% for the same period a year ago.

For the year, the company reported net income of $1,395,000 and basic and diluted earnings per share of $0.92 as compared to net income of $1,024,000 and diluted earnings per share of $0.68 for the same period in 2011. Net interest income was $10,969,000 compared to $10,602,000 for the same period a year ago. Income before provision for income taxes was $1,919,000 compared to $1,340,000 for the same period a year ago. Return on average assets was 0.46% compared to 0.35% for the same period a year ago. Return on average equity was 5.29% compared to 4.20% for the same period a year ago.

For the quarter, the company reported net charge-offs of $437,000 as compared to $137,000 for the same period a year ago.