Business Digest

BUSINESS DIGEST

December 16, 2005

Howard Bank to form a holding company

Mary Ann Scully, chief executive officer and president of Howard Bank, has announced that the bank has received approval from the Federal Reserve Board to form a holding company, Howard Bancorp Inc.

The locally owned and managed bank in Howard County will convert its shares into shares of Howard Bancorp Inc., with one share of bank stock exchanged for two shares of the new holding company stock.

More than 90 percent of the bank's shareholders approved the formation of the new entity, which provides greater financial, corporate and regulatory flexibility to create subsidiaries and offer a wider range of products. About $5.9 million in additional capital has been raised, with more than 95 percent coming from current investors.

The bank, which has offices in Ellicott City and Hickory Ridge in Columbia, plans to open a Maple Lawn branch in North Laurel in 2006.

Holiday Cheer event set at Jessup firm

Bob's BMW Motorcycles in Jessup will hold its Holiday Cheer event to thank customers and the community. The event will be held from 9 a.m. to 4 p.m. tomorrow.

Food, nonalcoholic refreshments, door prizes and discounts are planned. Donations for the hungry will be accepted.

Bob's BMW is at 10720 Guilford Road, off U.S. 1.

Information: 301-497-8949, or www.bobsbmw.com.

`Apprentice Day' is held at bank

As part of its participation in the Howard County schools business partnership program, Citizens National Bank held "Apprentice Day," a daylong internship for high school students to learn about banking.

Thirteen juniors and seniors chosen by the county's 12 high schools participated in the pilot program. Participants had an opportunity to shadow a banker and become familiar with the bank's commercial, consumer loan and finance divisions.

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