NEW WINDSOR, Md., April 20, 2016 /PRNewswire/ -- The Board of Directors of New Windsor Bancorp, Inc. recently approved the issuance of a quarterly cash dividend. The cash dividend of $0.06 per share is payable on May 16, 2016, to shareholders of record on April 29, 2016.
New Windsor Bancorp, Inc. also reported earnings for the first quarter of 2016. Net income was $364,000 for the quarter ended March 31, 2016, compared to $323,000 for the same period in 2015, an increase of $41,000 or 12.7%. Net income on a per share basis was $0.36 for the first quarter of 2016, down from $0.53 for the same period in 2015.
Total assets of the Bancorp at March 31, 2016, were $292 million, a decrease of 1.0% from December 31, 2015. Total deposits increased by 1.4% over the previous yearend to $253 million. Total loans rose by 0.2% to $248 million, as compared to December 31, 2015. A 2.0% increase in stockholders' equity resulted in an aggregate of $22 million at March 31, 2016.
New Windsor Bancorp, Inc., headquartered in Taneytown, MD, is a Maryland chartered corporation and a bank holding company for the wholly-owned subsidiaries of New Windsor State Bank and New Windsor Capital Trust I as well as one indirect subsidiary, New Windsor Holdings, LLC (owned by the Bank). The stock of the holding company trades under the symbol "NWID".
New Windsor State Bank is a community oriented financial institution, organized in 1864 as Charter 747 as the First National Bank of New Windsor, and reorganized as a state chartered bank in 1932. The Bank provides a broad range of commercial and consumer banking services to individuals, small and medium-sized businesses and professionals in Carroll County, Maryland and the adjacent counties of Maryland and Pennsylvania. The Bank currently operates seven full service banking offices, located in New Windsor, Mt. Airy, Westminster, Taneytown, Hampstead and Eldersburg, Maryland, along with seven automated teller machines ("ATMs").
For more information regarding New Windsor Bancorp, Inc. and its subsidiaries, please visit www.newwindsorbank.com
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SOURCE New Windsor Bancorp, Inc.