Bay Bancorp reported a profit of $450,000 in the second quarter of 2016, down 18 percent from a $550,000 profit in the April-to-June quarter last year.
The Columbia-based parent company of Bay Bank attributed the dip to a decline in year-over-year earnings on loans and merger costs associated with its July acquisition of Hopkins Bancorp, the parent company of Hopkins Federal Savings Bank.
Bay Bank leadership expects to improve efficiency and strengthen earnings in the coming quarters, according to a fiscal analysis announcing the quarter's results.
Bay Bank had about $496 million in assets at the end of June. The Hopkins acquisition is expected to bring the bank's assets to $625 million.
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