Frederick County Bancorp, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company recorded net income of $536,000 and diluted earnings per share of $0.34, as compared to net income of $708,000 and diluted earnings per share of $0.46 recorded for the third quarter of 2017. The decrease in quarterly earnings was due primarily to a decrease in total non-interest income of $300,000 in the third quarter of 2018 as compared to the third quarter of 2017. This was due to a decrease of $301,000 in the gain on sale of loans in the third quarter of 2018 as compared to the third quarter of 2017. In addition, there was an increase in total non-interest expense of $362,000 which was due primarily to an increase in salaries and employee benefits of $246,000 in the third quarter of 2018 compared the same period in 2017 and an increase in other operating expenses of $88,000 in the third quarter of 2018 as compared to the same period in 2017. Total interest income was $4,274,000 against $3,839,000 a year ago. Net interest income was $3,556,000 against $3,377,000 a year ago. Income before provision for income taxes was $717,000 against $1,107,000 a year ago. Return on average assets was 0.50% against 0.71% a year ago. Return on average equity was 6.16% against 8.67% a year ago. The company earned $2.249 million with diluted earnings per share of $1.43 for the nine months ended on September 30, 2018, as compared to $1.709 million in earnings and diluted earnings per share of $1.10 for the same period in 2017. The increase in year-to-date earnings was due primarily to an increase in net interest income of $663,000 in the first nine months of 2018 as compared to the same period in 2017, respectively. In addition, a negative provision for loan losses of $512,000 was recognized in 2018 compared to a provision of $364,000 in 2017. On a per share basis, book value increased by $0.74 for 2018 to $22.59 at September 30, 2018 from $21.85 at December 31, 2017. Total interest income was $12,640,000 against $11,266,000 a year ago. Net interest income was $10,636,000 against $9,973,000 a year ago. Income before provision for income taxes was $3,046,000 against $2,623,000 a year ago. Return on average assets was 0.71% against 0.58% a year ago. Return on average equity was 8.83% against 7.10% a year ago. Net cash provided by operating activities was $2,875,000 against $2,439,000 a year ago. Purchases of bank premises and equipment was $79,000 against $2,488,000 a year ago.