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Ocean City bank earnings

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Posted: Thursday, April 24, 2014 9:30 pm

Ocean Shore Holding Co., parent of Ocean City Home Bank, announced earnings of $1.6 million ($0.24 per share) in the first quarter, compared to $1.2 million ($0.18 per share) in the period last year. “Our loan portfolio increased 1.7 percent in the first quarter, which is typically a period of lower demand,” Steven E. Brady, president and CEO, said in a statement. “Asset quality remained excellent, as nonperforming assets declined from 0.55 percent at year end to 0.47 percent at the end of the first quarter.”

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