Bank Maryland Corp. announced yesterday that Chief Operating Officer H. David Shumpert has been appointed chief executive officer. Mr. Shumpert, who joined the company in August, retains the title of president.
The announcement came a year and a month after the last chief executive left the company, whose principal subsidiary is Bank of Maryland. When E. Neil Jacobs ended his one-year term as chief executive in April 1991, Chairman Hildebert F. "Bert" Criste took on the added positions of president and CEO on an interim basis.
Mr. Shumpert spent 25 years at Maryland National Bank, most recently in the commercial lending operations, before joining Bank Maryland last year. The Towson-based banking company reported a loss of $83,000 in this year's first quarter and a loss of $4.5 million last year.
At the end of March, the company was operating under an agreement with the Federal Deposit Insurance Corp. that requires it to meet by Sept. 30 a key financial ratio required by regulators.