| Columbia Bancorp |
7168 Columbia Gateway Dr.
Columbia, Md. 21046
Year founded: 1987
Net Income/Loss: $11.90 Million
Earnings per share: $1.62
Stockholder equity: $85.45 Million
Auditor: KPMG LLP
Assets: $1.03 Billion
Market capitalization: $219.68 Million
52-week high: 32.86 1/20/2004
52-week low: 22.41 6/23/2003
CEO: John M. Bond Jr.
President, COO, CFO: John A. Scaldara Jr.
Local employees: 57
Description: Columbia Bancorp operates 24 commercial bank branches in the Baltimore-Washington region.
Developments: Last year Columbia Bancorp reported record earnings of almost $12 million, up almost 10 percent. The company cited several reasons: strong loan demand, increased fees from mortgages and better management of its own cost of funds. The bank holding company's loans increased by a quarter to $836 million last year. Loans for real estate development and construction led the way, posting an $85 million increase, or 45 percent. The company recently announced plans to change its top leadership. In May, Chairman Winfield M. Kelly Jr. will become vice chairman and lead independent director while chief executive John M. Bond Jr. will become chairman. Former Chief Financial Officer John A. Scaldara Jr. became president in January. The company told investors in February its asset-growth rate of 27 percent is not sustainable over the long haul. Scaldara said then that a long-term growth rate of 12 to 15 percent annually would be more realistic. The seven analysts who cover the company are projecting average earnings per share of $1.77 for 2004, up slightly from 2003's $1.62. Columbia Bancorp has also announced plans to change data processors. It will drop Marshall & Ilsley Corp. unit Metavante when their current agreement expires in October and move to Delmarva Bank Data Processing Center Inc. The bank also plans to take a 20 percent ownership stake in Delmarva.
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