Taneytown Bank & Trust Co.'s net income for 1990 was $1,751,781, up $13,962 over 1989, or $4 per share, up from $3.97, the firm's president and chief executive officer said.
The return on average assets was 1.31 percent and the return on stockholder equity was 15.43 percent, said Carroll D. Myers. Total bank assets for the year increased 10.63 percent.
The bank's primary capital to asset ratio was 9.06 percent. The minimum required by the FDIC is 5.50 percent.
Taneytown Bank & Trust has two offices each in Westminster and Taneytown, plus one each inUniontown and Keymar. In 1990, the bank incorporated its first wholly owned subsidiary, TBT Insurance Inc.
A new 21,000-square-foot addition to the main office is under construction. Upon completion thisyear, the bank will consolidate its operations office, data-processing center, credit card division and training center, which are off the premises.
The annual stockholder's meeting will be March 11 at Antrim mansion on Trevanion Road.