New Windsor Bancorp, Inc. Continues to Report Strong Earnings and Declares Cash Dividend

NEW WINDSOR, Md., Oct. 23, 2015 /PRNewswire/ -- Earnings for the three months ending September 30, 2015 were $390 thousand compared to $350 thousand for the same period in 2014. These positive results are primarily driven by ongoing loan growth and fee income from our new deposit products. Nine month year-to-date results of $1,122 thousand reflected an improvement of 26% as compared to the same prior year period of $890 thousand. The third quarter 2015 return on equity was 10.09% and the return on assets was .54%. Third quarter earnings of $.62 per share increased 9% over the same prior year period and year-to-date of $1.81 per share represents a 25% increase over the prior period year-to-date results. Tom Rasmussen, President and CEO, stated, "Ongoing loan growth and our simplified and enhanced family of retail deposit products has boosted fee income and improved the efficiency of our operations."

Based on the strong earnings performance, the Directors were pleased to declare a $.06 per share cash dividend for all shareholders of record as of November 2, 2015.

Art Seibel, Chairman of the Board, stated, "2015 continues to be an exciting year for New Windsor State Bank. Our common stock offering to date has been well received by investors. New subscriptions continue to come in and we expect to exceed our goal of $5 million." Interested investors may find the offering information on the Investor Relations tab of the Bank's website.

The Bank's seventh full service branch in Eldersburg, MD is nearing its completion with expectations of a grand opening in November. We wish to welcome branch manager, Laurence Gerard-Martinez to our company. Laurence brings 25 years of banking experience to our staff as we look to expand our market share and brand in the affluent Eldersburg/Sykesville market place.

New Windsor Bancorp, Inc. is a one-bank holding company headquartered in New Windsor, MD and is incorporated under the laws of Maryland. The Bancorp holds all of the issued and outstanding shares of common stock of New Windsor State Bank (the "Bank"). The Bank is a Maryland company that engages in general commercial and retail banking operations and its deposits are insured by the Federal Deposit Insurance Corporation ("FDIC"). The Bank provides a full range of financial services to individuals, businesses and organizations through six branch banking offices located in New Windsor, Taneytown, Westminster, Mt. Airy and Hampstead along with six automated teller machines ("ATMs"). The Bank considers its core market to be the communities in Carroll County, Maryland and adjacent counties of Maryland and Pennsylvania. The stock of the holding company trades under the symbol "NWID".

SOURCE New Windsor Bancorp, Inc.