Revenue during the quarter grew 7.96 percent to $3.12 million from $2.89 million in the previous year period. Net interest income for the quarter rose 32.53 percent over the prior year period to $3.61 million. Non-interest income for the quarter rose 23.08 percent over the last year period to $0.29 million.

Hamilton Bancorp, Inc. has made provision of $0.78 million for loan losses during the quarter, up 1,014.29 percent from $0.07 million in the same period last year.

Net interest margin contracted 15 basis points to 3.09 percent in the quarter from 3.24 percent in the last year period. Efficiency ratio for the quarter improved to 79.96 percent from 94.02 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

"We are very pleased with our core earnings from organic growth and our recent acquisitions," said Robert DeAlmeida, president and chief executive officer of Hamilton Bank. "This quarter, we were able to divest problem loans inherited through our recent acquisitions, and we will continue to look for future opportunities to sell assets as appropriate."

Return on average assets was at 0.05 percent in the quarter against a negative 0.14 percent in the last year period. Return on average equity was at 0.40 percent in the quarter against a negative 0.84 percent in the last year period.

Meanwhile, nonperforming assets to total assets was 0.70 percent in the quarter, down from 1.52 percent in the last year period.

Book value per share for quarter was almost stable at $17.77, when compared with the previous year period.