Hamilton Bancorp, Inc. Reports Results for the Fourth Quarter and Fiscal Year Ended March 31, 2015

Towson, Md. (PRWEB) May 28, 2015

Hamilton Bancorp, Inc. (the “Company”) (NASDAQ: HBK), the parent company of Hamilton Bank (the “Bank”), today announced a $ 0.13 improvement in net loss per share for the fourth quarter of 2015. The Company recorded a net loss of $ 141,000 or $ 0.04 per share for the quarter ended March 31, 2015, compared to a net loss of $ 566,000 or $ 0.17 per share for the same quarter a year ago. The results for 2015 include non-recurring merger related expenses of $ 74,000.

“There is a lot of excitement in and around the projected growth plan and achievements of the Hamilton Bank team. Between the recently announced merger with Fairmount Bancorp, Inc., improving core earnings, and the decrease in our non-performing assets, our extended team is working together to move our business metrics in the right direction,” said President and CEO Bob DeAlmeida. “This year is particularly exciting as we celebrate our 100-year anniversary. Many stakeholders have participated in helping us mark this terrific milestone.”

Additional company highlights for the three-month period and fiscal year ended March 31, 2015, include:

    During the fourth quarter of fiscal 2015, the Company was in discussions with, and performed due diligence on, Fairmount Bancorp, Inc. (“Fairmount”), and subsequent to the fiscal year end, in April 2015 announced the signing of a definitive agreement with Fairmount. A large portion of the loss for the quarter is attributable to the costs incurred to perform the due diligence and draft a definitive agreement outlining the merger.
    Nonperforming assets to total assets decreased more than 50 percent during fiscal 2015 from 1.88 percent at March 31, 2014 to 0.93 percent at March 31, 2015.
    Net charge-offs declined $ 1.9 million, or 88 percent, during fiscal 2015 to $ 266,000, or 0.18 percent of average loans, from $ 2.2 million, or 1.41 percent, of average loans for fiscal 2014. This decrease resulted in reduced provisions for loan losses of $ 170,000 for fiscal 2015 compared to $ 1.9 million for fiscal 2014.
    Net loss attributable to common shareholders decreased to $ 314,000 for the fiscal year ended March 31, 2015, compared to a net loss of $ 1.2 million for fiscal 2014, an improvement of $ 881,000. Net loss per common share improved to $ 0.10 for the year compared to $ 0.35 in the prior fiscal year. This improvement was associated with a $ 1.7 million decrease in the provision for loan loss; a reflection of the continued decrease in charge-offs and problem loans.
    Net interest margin for the fourth quarter of fiscal 2015 increased 10 basis points to 2.98 percent compared to 2.88 percent for the same period last year due to an increase in the average balance of higher interest-earning assets, primarily commercial loans.
    Total gross loans, including loans held for sale, increased $ 16.2 million, or 11.2 percent, during fiscal 2015, from $ 144.8 million at March 31, 2014 to $ 161.0 million at March 31, 2015. Roughly $ 11.7 million, or 73 percent, of that growth occurred in the second half of fiscal 2015 as the Bank continued to show growing strength in its commercial lending platform.

“Understanding the ‘why’ is an important perspective when evaluating Hamilton’s performance over time,” said Executive Vice President – Chief Lending Officer Ellen Fish. “Our daily, unwavering commitment to secure sound commercial lending, obtain lower cost core deposits, and embrace overall asset quality remains firm. I am very optimistic about our future as our team works tirelessly to deliver for our shareholders.”

During the fiscal year ending March 31, 2015, commercial real estate loans grew $ 17.9 million, or 43.1 percent, to $ 59.3 million, while commercial business loans also grew by $ 2.8 million, or 18.1 percent, to $ 18.5 million over the same period. Approximately $ 12.8 million of the growth in commercial real estate occurred in the last two quarters of fiscal 2015.

The Bank’s asset quality measures continue to improve. Nonperforming loans decreased $ 2.8 million, or 55.3 percent, to $ 2.3 million at March 31, 2015 from $ 5.0 million a year ago. Nonperforming loans as a percentage of gross loans decreased from 3.48 percent at March 31, 2014 to 1.40 percent at March 31, 2015.

The Bank continued to allow higher cost certificates of deposit to run-off and to focus on generating lower cost core deposits (which is considered to be all deposits except certificates of deposit), including checking and money market accounts. Total deposits were $ 222.3 million at March 31, 2015, compared to $ 238.8 million at March 31, 2014, a decline of $ 16.5 million, or 6.9 percent. Core deposits increased by $ 3.9 million, or 5.7 percent, to $ 72.6 million over the twelve months of fiscal 2015 while certificates of deposit decreased $ 20.4 million over that same period. Core deposits comprised 32.7 percent of total deposits at March 31, 2015 compared to 28.8 percent at March 31, 2014.

For fiscal 2015, the Company reported net interest income of $ 7.7 million compared to $ 8.3 million for fiscal 2014. The decrease in net interest income over that period is due to an $ 847,000 decrease in interest revenue that is attributable to a $ 6.3 million decline in average loan balances and a 28 basis point decline in loan yield. However, during the second half of fiscal 2015, the Company saw overall loan balances grow under its restructured commercial lending platform and enhanced interest revenue despite a low interest rate environment. Partially offsetting the decline in interest revenue is a $ 254,000 decrease in interest expense, resulting from an $ 18.4 million decrease in the average balance of higher cost certificates of deposit during fiscal 2015. The Company’s net interest margin for fiscal 2015 remained unchanged at 2.85 percent compared to fiscal 2014.

Noninterest revenue for fiscal 2015 increased by $ 30,000, or 2.9 percent, to $ 1.1 million compared to the same period last year that included an $ 82,000 gain on the sale of the Bank’s Belmar branch. A large portion of this increase is due to $ 272,000 in gains realized from the sale of investment securities compared to $ 172,000 in realized gains for the same period a year ago. Fee income from service charges also improved by $ 17,000 from $ 366,000 in fiscal 2014 to $ 383,000 in fiscal 2015.

Noninterest expense decreased to $ 9.3 million for fiscal 2015 compared to $ 9.7 million for fiscal 2014, a decrease of $ 395,000. Despite salaries and benefits increasing $ 424,000 over that period due to new lending personnel and cost associated with equity awards, the Bank was able to offset this increase by reducing other noninterest expenses, particularly legal fees and other professional services. These expenses decreased, as a whole, by $ 269,000 due to a reduction in problem assets and the cost associated with implementing the Bank’s equity incentive plans. In addition, occupancy and advertising expenses also decreased by $ 131,000 and $ 109,000, respectively, over the fiscal year compared to fiscal 2014, as management diligently looked for ways to cut costs and improve efficiency moving forward. Lastly, foreclosed real estate expense and losses decreased significantly due to $ 493,000 in costs incurred in the prior year associated with the sale of one property and the write-down of another held in foreclosed real estate.

When comparing the third and fourth quarter of fiscal 2015, net income of $ 78,000 was recorded in the third quarter compared to a net loss of $ 141,000 in the fourth quarter. The net income per share decreased from a profitable $ 0.02 per share in the prior quarter to a loss of $ 0.04 per share in the most recent quarter. The loss for the current quarter is attributable to a $ 221,000 write-down in the fair value of a property held in foreclosed real estate and $ 74,000 in costs incurred relating to the due diligence work performed and signing of a definitive agreement to merge with Fairmount. These costs were partially offset by a $ 175,000 negative provision for loan losses taken in the fourth quarter. The Company has been able to record a negative provision in the last two quarters due to the reduction in its problem assets and improved asset quality. In addition, loan volume continues to show strength from quarter to quarter. The loan portfolio increased from $ 159.0 million at December 31, 2014 to $ 160.9 million at March 31, 2015, an increase of $ 1.9 million following net loan growth of $ 9.7 million in the prior fiscal quarter.

Average equity to average assets remains strong at 19.8 percent for the fourth quarter ended March 31, 2015, down slightly from 20.6 percent a year ago as a result of stock buybacks, partially offset by a decrease in the average asset base. All of the Bank’s regulatory capital ratios continue to exceed those levels required for the Bank to be categorized as well capitalized. The Company’s shares outstanding decreased from 3,595,100 at March 31, 2014 to 3,417,713 shares at March 31, 2015. This reduction is due to a 5 percent buyback of common shares in the first quarter of fiscal 2015.

Please direct all media inquiries to Josie Hankey at 410-420-2001 or by email at josie(dot)hankey(at)fallstongroup(dot)com. Please direct investor inquiries for Hamilton Bank to Robert DeAlmeida at 410-823-4510.

About Hamilton Bank

Founded in 1915, Hamilton Bank is a community bank with $ 285 million in assets and $ 46.9 million in regulatory capital. The bank employs more than 55 people and operates four branch locations across Greater Baltimore, serving the communities of Cockeysville, Pasadena, Towson and Baltimore in Maryland. Whether online or on the corner, Hamilton Bank is a community bank that cares about its customers. http://www.Hamilton-Bank.com.

Member FDIC and Equal Housing Lender

This press release may contain statements relating to the future results of the Company (including certain projections and business trends) that are considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, legislative and regulatory changes that could adversely affect the business in which Hamilton Bancorp, Inc. and Hamilton Bank are engaged, and other factors that may be described in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. The forward-looking statements are made as of the date of this release, and, except as may be required by applicable law or regulation, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

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Testosterone Lawsuit Attorneys at Bernstein Liebhard LLP Look Ahead to June Conference in Federal Multidistrict Litigation

New York, New York (PRWEB) May 24, 2015

The federal court overseeing hundreds of testosterone treatment lawsuits (http://www.testosteronelawsuithub.com/) has scheduled its next monthly Case Management Conference to discuss the progress of the multidistrict litigation. According to court documents filed in the U.S. District Court, Northern District of Illinois, the Conference will be convened on June 2, 2015, at 1:30 p.m. (In re: Testosterone Replacement Therapy Product Liability Litigation – MDL No. 2545)

“Our Firm is representing clients who have filed testosterone lawsuits in this proceeding. We are looking forward to the June 2nd Conference, as it will likely include discussions regarding discovery, bellwether trial selection and other matters that could impact our clients’ cases,” says Sandy A. Liebhard, a partner at Bernstein Liebhard LLP, a nationwide law firm representing victims of defective drugs and medical devices. The Firm continues to offer free case reviews to men who may have been harmed by low testosterone therapy medications.

Testosterone Litigation

According to court documents, more than 1,400 testosterone lawsuits have been filed in the federal litigation underway in Illinois. The litigation was established in June 2014, several months after the U.S. Food & Drug Administration’s (FDA) announced that it was conducting a review of the cardiovascular risks potentially associated with the use of testosterone replacement therapy.* The results of that review were announced by the FDA on March 3, 2015, at which time the agency ordered the manufacturers of prescription testosterone treatments to modify their labels with information regarding a potential association with an increased risk of heart attack and stroke.

Court documents indicate that all of the claims pending in the federal litigation allege the manufacturers of testosterone replacement medications concealed their alleged association with heart attacks, strokes, blood clots and other life-threatening complications. Plaintiffs further assert that sales of low testosterone therapy products were driven by misleading marketing claims that positioned the drugs as safe and effective treatments for low libido, muscle loss, fatigue and other symptoms commonly associated with male aging, even though they have never been approved by the FDA for this purpose.

Men who allegedly experienced dangerous cardiovascular complications due to their use of low testosterone treatments may be entitled to compensation for medical bills, lost wages, pain and suffering, and more. To learn more about filing a testosterone treatment lawsuit, please visit Bernstein Liebhard LLP’s website. Free, no-obligation legal consultations can be obtained by calling 800-511-5092.

*http://www.fda.gov/Drugs/DrugSafety/ucm383904.htm, FDA, January 31, 2014

About Bernstein Liebhard LLP

Bernstein Liebhard LLP is a New York-based law firm exclusively representing injured persons in complex individual and class action lawsuits nationwide since 1993. As a national law firm, Bernstein Liebhard LLP possesses all of the legal and financial resources required to successfully challenge billion dollar pharmaceutical and medical device companies. As a result, our attorneys and legal staff have been able to recover more than $ 3 billion on behalf of our clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country. Bernstein Liebhard LLP is the only firm in the country to be named to this prestigious list every year since it was first published in 2003.

Bernstein Liebhard LLP

10 East 40th Street

New York, New York 10016


ATTORNEY ADVERTISING. © 2015 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, 800-511-5092. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information:

Sandy A. Liebhard, Esq.

Bernstein Liebhard LLP

info (at) consumerinjurylawyers (dot) com



Innovations with Ed Begley Jr Explores Aftermath Services LLC

Aurora, IL (PRWEB) May 16, 2015

Aftermath Services LLC announced today that they will be featured in an upcoming episode of Innovations with Ed Begley Jr, airing 3rd QTR 2015, via Discovery Channel. Dates and show times TBA.

Biohazard remediation services can have an impact on public health and welfare, employee safety, and the environment.

In this segment, Innovations will feature Aftermath Services LLC. With nearly 20 years of experience, Aftermath’s sensitive and highly experienced biohazard cleanup professionals have specialized in handling the most difficult of situations. Their regional mobile center in Tampa networks with strategically located dispatch centers throughout Florida to provide the fastest in local service, from Orlando to Miami, from Ft. Meyers to Jacksonville, and from Tallahassee as far west as Pensacola.

In addition to learning about their operations, audiences will be educated on the 28-point checklist that Aftermath publishes, which acts as a reference guide to the national requirements and best practices impacting the biohazard industry. Viewers will also be educated on how the company meets or exceeds most commercial and government requirements and is licensed to operate in 48 states.

“Aftermath is honored to be featured in an episode of Innovations with Ed Begley, Jr. As the nationwide leader of biohazard remediation, we are excited for the opportunity to bring public awareness to the risks associated with blood and biological spills, as well as the work necessary to mitigate the risks in order to prevent the spread of infectious diseases through proper biohazard remediation,” said Doug Berto, CEO of Aftermath Services.

“For the family affected, dealing with an unattended death and clean up can be grim,” said Chris Brink, Producer for the series. “Aftermath steps in to handle the situation by providing highly trained and caring field technicians who are experienced in all the protocols necessary to return a home or business to a safe and livable condition.”

About Aftermath Services LLC:

Aftermath is the leading national company specializing in trauma cleanup and biohazard remediation. The Company’s primary mission is to provide families and businesses with compassionate assistance during a time of tragedy. Aftermath believes that no family should go through these events alone.

The Company was founded in 1996 when two friends offered to help a neighbor’s family after a suicide and recognized the need to assist other families in similar traumatic situations. Almost 20 years later, Aftermath has pioneered a sophisticated, science-based approach to remediation that protects the health and safety of people and restores property after tragedies such as suicides, murders, mass casualty incidents, unattended natural deaths and industrial accidents.

For more information, visit: http://www.aftermath.com.

About Innovations and DMG Productions:

Innovations, hosted by award winning actor Ed Begley, Jr., is an information-based series geared toward educating the public on the latest breakthroughs in all areas of society. Featuring practical solutions and important issues facing consumers and professionals alike, Innovations focuses on cutting-edge advancements in everything from health and wellness to global business, renewable energy, and more.

DMG Productions (responsible for creating the Innovations show) includes personnel specialized in various fields from agriculture to medicine, independent films to regional news and more. Field producers work closely with experts in the field to develop stories. This powerful force enables DMG to consistently produce commercial-free, educational programming that both viewers and networks depend on.

For more information visit: http://www.InnovationsTelevision.com or contact Chris Brink at: (866) 496-4065 x 813 or via email at: Chris(at)InnovationsTelevision(dot)com.

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Eventure Interactive, Inc. Continues Listing on OTCQB Marketplace

Costa Mesa, CA (PRWEB) May 14, 2015

Eventure Interactive, Inc. (EVTI), a social application and technology development company, today announced it will continue to list its securities on the OTCQB Marketplace (“OTC Markets”). Having met all regulatory and administrative requirements, Eventure’s continued listing went effective May 8th, 2015.

“The OTCQB Marketplace is respected as the premier over-the-counter trading platform in the United States. Their high regulatory and reporting requirements align with Eventure’s stated commitment to investor and marketplace transparency as noted in our Business Execution Framework announced in March of 2014”, said Michael Roundtree, Chief Financial Officer of Eventure Interactive, Inc.

In 2014, OTC Markets Group introduced standards and eligibility requirements for OTCQB with the goal of making it a better venture marketplace. To be eligible, companies must be current in their reporting to U.S. or foreign regulators, pass a minimum bid price test of one penny ($ 0.01), and undergo an annual verification and management certification process providing additional information about the company’s insiders, advisors, and share count.

The OTCQB Marketplace helps investors easily identify OTC-traded companies that report to the Securities and Exchange Commission, and it has replaced OTC Bulletin Board as the standard designation for the vast majority of this category of OTC Companies. Recently, OTC Markets established new eligibility standards for companies, aimed at improving information availability and transparency to investors, to trade on the OTCQB Marketplace. Companies that do not comply with the new procedures within the required time frame are downgraded to OTC Pink Marketplace.

OTCQB Key Highlights:

    Minimum bid price test of $ 0.01 will remove companies that are most likely to be the subject of dilutive stock fraud schemes and promotion.
     Improved investor confidence through verified information, confirming the Company Profile displayed on http://www.otcmarkets.com is current and complete and providing additional information on officers, directors, and controlling shareholders.
    Greater information availability for investors through news and disclosure posted through the OTC Disclosure & News Service.
    Transparent prices for investors through full-depth of book with Real Time Level 2 quotes.
About Eventure Interactive, Inc.

Eventure’s mission is to connect people locally for controlled sharing of their lives.

Every day, millions of people are forced to use multiple applications to plan, invite, navigate, capture, organize, and share their events. Without organization and a simple retrieval system, sharing and recalling memories are often difficult, and many times non-existent. In addition, currently used techniques of memory sharing are person-to-person as opposed to persons-to-event; so many captured memories never end up being shared in a controlled group environment. Eventure solves for this problem. Our proprietary technologies are robust, simple-to-use, and address inefficiencies in the social marketplace by enabling captured memories to be centrally stored and effortlessly shared among event attendees in a secure, real-time environment. From our Social Calendar, to our Wearable Camera Technologies, to our Event based Games, Eventure truly redefines how one creates, curates, and organizes life’s most memorable moments.

For more information please visit: http://www.eventure.com

Forward Looking Statements:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are made in accordance with the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from those implied in these forward-looking statements as a result of many factors, including, but not limited to, overall industry environment, customer acceptance of our products, delay in the introduction of new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of permits or licenses by regulatory or governmental authorities, termination or non-renewal of customer contracts, competitive pressures and general economic conditions, and our financial condition. These and other risks and uncertainties are described in more detail in our most recent annual report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by applicable laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors germane to our business.

Investor Relations:

Sanford Diday

Executive Director, Investor Relations

Eventure Interactive, Inc.



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San Antonio Personal Injury Attorneys Help Injured Motorcyclist Settle Case for $155k

San Antonio, TX (PRWEB) April 30, 2015

The victim of a motorcycle collision settled with insurance company for $ 155k with the help of The Carlson Law Firm personal injury attorneys, Edna Elizondo and John Hodges.

The Carlson Law Firm’s client was in a line of vehicles sitting at a stopped traffic light. While the traffic light was red, the driver in front of the client dropped her cell phone and reached to pick it up. Doing so, put her vehicle in reverse. When the light turned green, the driver accelerated backwards, striking the client and pinning the motorcyclist into the vehicle behind him, according to court documents (Case 236-276573-2015, Burleson County).

According to court documents (Case 236-276573-2015, Burleson County), the victim sustained painful injuries in his right shoulder, left knee, right ear and left hand. The victim was diagnosed with tears, thinning parts and joint fluid in his left knee. The accident has caused significant pain and regular migraines. Due to the pain in his knee, the victim underwent a surgical procedure to repair the damage from the crash.

If you or a loved one has been injured in a collision, contact the personal injury attorneys at The Carlson Law Firm for a free consultation to see if you are entitled to financial compensation for your pain and suffering. Settlements and verdicts vary between cases. Results of other cases are not indicators for the success of future cases. The Carlson Law Firm can help determine if you have a case and fight for what you deserve.

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Buying Auto Insurance Is Essential For A Safe Driving Experience

(PRWEB) April 29, 2015

Carinsurancehints.com has released a new blog post presents the best reasons for purchasing online auto insurance.

Buying auto insurance is very important. Every driver needs financial protection on the road. In case of an accident, an auto insurance plan can provide excellent benefits that can also cover medical expenses.

It is now possible to find the ebst car insurance offers on a single website: http://www.carinsurancehints.com/. The plans are selected only from reliable agencies, who have a credit rating of A or higher.

A car insurance plan provides excellent financial protection for a vehicle. Some policies can also cover medical expenses. Most policies can be purchased online at affordable prices. The newly released blog post provides more details.

Carinsurancehints.com is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

Carinsurancehints.com is owned by Internet Marketing Company.

For more information, please visit: http://www.carinsurancehints.com.