BOWIE, Md., March 20, 2012 (GLOBE NEWSWIRE) -- Old Line Bank, the principal subsidiary of Old Line Bancshares, Inc. (Nasdaq:OLBK), has been ranked 46th among the nation's 100 top-performing community banks with total assets between $500 million and $5 billion, according to an annual survey by SNL Financial, Inc., the industry's leading independent data source. Old Line, with total assets at December 31, 2011 of approximately $811 million was one of only two Maryland banks to make the top 100; no banks in the comparable asset size range headquartered in Delaware, Washington, D.C. or Virginia made the list.
SNL ranked the best-performing community banks using six core financial performance metrics that focus on profitability, asset quality and growth for the 12-month period ended December 31, 2011. The metrics used were: return on average tangible assets before tax, net charge-offs as a percentage of average loans, adjusted Texas ratio, efficiency ratio, net interest margin and loan growth. SNL measured each company's standard deviation from the mean of each metric. The standard deviations, which are each equally weighted, were added together to calculate a performance score for each company.
To compile this ranking, SNL defined community banks as institutions with between $500 million and $5 billion in assets and with 60 or fewer offices. Also, at least one-third of the banks' balance sheets must be composed of loans, and they cannot have more than half of their loans in credit cards. Banks with a majority of revenue derived from nontraditional banking activities or that were not well-capitalized were excluded. SNL ranked companies at the bank holding company level if consolidated data was reported. Otherwise, commercial bank subsidiary data was used. Thrifts were excluded. Based on the described criteria, 723 companies were eligible for the rankings.
Old Line Bancshares, Inc. is the parent company of Old Line Bank, a Maryland chartered commercial bank headquartered in Bowie, Maryland, approximately 10 miles east of Andrews Air Force Base and 20 miles east of Washington, D.C. Old Line Bank has 19 branches located in its primary market area of suburban Maryland (Washington, D.C. suburbs and Southern Maryland) counties of Anne Arundel, Calvert, Charles, Prince George's and St. Mary's. It also targets customers throughout the greater Washington, D.C. metropolitan area.
The statements in this press release that are not historical facts, constitute "forward-looking statements" as defined by Federal securities laws. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These statements can generally be identified by the use of forward-looking terminology such as "believes," "expects," "intends," "may," "will," "should," "anticipates", "plans" or similar terminology. Actual results could differ materially from those currently anticipated due to a number of factors, including, but not limited to, deterioration in economic conditions or a slower than anticipated recovery in our target markets or nationally, sustained high levels of or further increases in the unemployment rate in our target markets, and changes in laws impacting our ability to collect on outstanding loans or otherwise negatively impact our business, including regulations implemented pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act enacted in July 2010. Forward-looking statements speak only as of the date they are made. Old Line Bancshares, Inc. will not update forward-looking statements to reflect factual assumptions, circumstances or events that have changed after a forward-looking statement was made. For further information regarding risks and uncertainties that could affect forward-looking statements Old Line Bancshares, Inc. may make, please refer to the filings made by Old Line Bancshares, Inc. with the U.S. Securities and Exchange Commission available at www.sec.gov.