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SALISBURY, Md., April 30, 2021 (GLOBE NEWSWIRE) Partners Bancorp (NASDAQ: PTRS) (the “Company”), the parent company of The Bank of Delmarva (“Delmarva”), Seaford, Delaware, and Virginia Partners Bank (“Virginia Partners”), Fredericksburg, Virginia, reported net income attributable to the Company of $1.1 million, or $0.06 per share, for the three months ended March 31, 2021, a $1.3 million or 54.7% decrease when compared to net income attributable to the Company of $2.4 million, or $0.14 per share, for the same period in 2020.
The Company’s results of operations for the three months ended March 31, 2021 were directly impacted by a decrease in net interest income and a lower net interest margin (tax equivalent basis), significantly higher provision for credit losses due to the deterioration in asset quality of two loan relationships that have been individually evaluated for impairment, the current economic environment and the COVID-19 pand
Partners Bancorp Reports Results of Operations for the First Quarter 2021
April 30, 2021 08:15 ET | Source: Partners Bancorp Partners Bancorp Salisbury, Maryland, UNITED STATES
SALISBURY, Md., April 30, 2021 (GLOBE NEWSWIRE) Partners Bancorp (NASDAQ: PTRS) (the “Company”), the parent company of The Bank of Delmarva (“Delmarva”), Seaford, Delaware, and Virginia Partners Bank (“Virginia Partners”), Fredericksburg, Virginia, reported net income attributable to the Company of $1.1 million, or $0.06 per share, for the three months ended March 31, 2021, a $1.3 million or 54.7% decrease when compared to net income attributable to the Company of $2.4 million, or $0.14 per share, for the same period in 2020.
The Company’s results of operations for the three months ended March 31, 2021 were directly impacted by a decrease in net interest income and a lower net interest margin (tax equivalent basis), significantly higher p
Partners Bancorp Reports Results of Operations for the First Quarter 2021 apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
By CATHY JETT
FOR THE FREE LANCE-STAR
The owner of a Spotsylvania County restaurant says she wouldnât still be in business without the latest round of loans through the federal governmentâs Paycheck Protection Program.
Tisha Johnson applied for and received a PPP loan last year, which helped keep her Orleans Bistro & Grill in Southpoint Plaza alive.
Revenue had plummeted from $20,000 to $3,000 a week after Gov. Ralph Northam ordered restaurants last April to drastically reduce the number of patrons allowed inside.
âThatâs nothing when youâre paying $6,000 a month for rent and you still have all of your other bills,â she said. âIt was very difficult. We did nowhere near enough business to survive what we were hit with, and it was unexpected. It left us as restaurant owners in a very tight situation.â
FredNats stadium to host business annual awards, finalists named
The Fredericksburg Regional Chamber of Commerce will hold its 30th annual business awards at the newly-opened Fredericksburg Nationals baseball stadium, at 42 Jackie Robinson Way in Fredericksburg.
Each year, the awards aim to celebrate the strength of the region’s business community andhonor those who have made a difference in the community. The theme for the awards show is “A Million Dreams – Waking Up from 2020.”
The purpose of the Business of the Year awards is to recognize local businesses that have achieved success while supporting initiatives and organizations that enhance the quality of life in the region.