Revenue during the quarter grew 12.73 percent to $15.58 million from $13.82 million in the previous year period. Net interest income for the quarter rose 12.28 percent over the prior year period to $14.16 million. Non-interest income for the quarter fell 6.50 percent over the last year period to $1.85 million.

Old Line Bancshares, Inc. has made provision of $0.44 million for loan losses during the quarter, down 43.43 percent from $0.78 million in the same period last year.

Net interest margin contracted 11 basis points to 3.74 percent in the quarter from 3.85 percent in the last year period. Efficiency ratio for the quarter improved to 59.52 percent from 72.79 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

James W. Cornelsen, president and chief executive officer of Old Line Bancshares stated: "We had a strong first quarter with increases in net loans held for investment of $55.9 million and deposits of $43.0 million. We are extremely proud of the reduction in nonperforming assets to 0.24% which we haven't seen in 10 years. We are enthusiastic about building on this momentum during the remainder of the year. We are excited about the proposed merger with DCB Bancshares, Inc., the parent company of Damascus Community Bank, expected to close during the third quarter of 2017, and the talent that will add to our team as well as expanding our market further into Montgomery, Fredrick and Carroll Counties. Additionally, in January we opened a new branch in Leonardtown located in Saint Mary's County. Our focus is to continue to enhance our profitability, build on our solid foundation by growing our loan and non-maturity deposit portfolios and maintain our operating efficiency while investing in new growth opportunities."

Deposits stood at $1,368.88 million as on Mar. 31, 2017, up 10.97 percent compared with $1,233.55 million on Mar. 31, 2016.

Noninterest-bearing deposit liabilities were $352.74 million or 25.77 percent of total deposits on Mar. 31, 2017, compared with $328.80 million or 26.65 percent of total deposits on Mar. 31, 2016.

Investments stood at $209.08 million as on Mar. 31, 2017, up 6.42 percent or $12.62 million from year-ago. Shareholders equity was at $155.12 million as on Mar. 31, 2017.

Return on average assets moved up 36 basis points to 0.93 percent in the quarter from 0.57 percent in the last year period. At the same time, return on average equity increased 362 basis points to 9.63 percent in the quarter from 6.01 percent in the last year period.

Meanwhile, nonperforming assets to total assets was 0.24 percent in the quarter, down from 0.78 percent in the last year period.