Bank Of Maryland

Maryland's banking commissioner has approved First National Bank of Maryland's application to convert to a state banking charter, the Division of Financial Regulation said yesterday.The decision will bring in about $1.2 million in annual fees to the state, and nearly double the amount of assets overseen by the agency."They are in good financial condition, and they are well capitalized," said Anthony H. Zelaznicki, the state's assistant banking commissioner, who was instrumental in the decision.

Annapolis banks, businesses join campaign for hospitalAnnapolis banks and businesses have gotten into the crab business to help Anne Arundel Medical Center build a new hospital. The crabs they are selling are not edible, but rather a toy critter called "Carey the Crab," which serves as a goodwill ambassador for the medical center's capital campaign.The project is backed by a Maryland company called the Petting Zoo, which provides businesses with a bushel basket of 36 for $4 per crab. The Petting Zoo donates half the proceeds to the AAMC Foundation.

State regulators confirmed yesterday that First Maryland Bancorp., the parent of First National Bank of Maryland, is seeking to switch from federally chartered to state chartered. The move would make First National the largest state-chartered bank in Maryland.First Maryland's assets -- $17.3 billion -- are almost as large as the combined assets of the 66 banks currently holding state charters, said H. Robert Hergenroeder Jr., Maryland's commissioner of financial regulation.The Baltimore-based financial institution has 300 banking offices in Maryland, Pennsylvania, Washington and Northern Virginia, and $11.7 billion in deposits.

The Bank of Maryland has launched a clothing and food drive for victims of Hurricane Mitch in Nicaragua and Honduras, among the Central American nations devastated by the storm.One of the bank's branch managers, Ammy Chavez of Perry Hall, is heading the drive that aims to collect medicine, medicalsupplies, bottled water and food for victims of the storm, estimated to have left more than 10,000 dead and 3 million homeless.Donations may be made at any Bank of Maryland branch by the end of the month, Chavez said.

COLLEGE PARK -- Junior college transfer Steve Francis and three freshmen won't be the only additions to Cole Field House this basketball season.The University of Maryland and a Baltimore-based bank are finalizing an agreement that would result in the first placement of corporate logos on the Cole Field House floor. It will be named the First National Bank of Maryland court.Neither party would discuss the value of the corporate sponsorship, but it is believed that Maryland will receive from $850,000 to $900,000 over the life of a three-year contract that would put two logos on the court.

CATONSVILLE -- Loomis Fargo is offering a $10,000 reward for information leading to the conviction of those responsible for Wednesday's robbery of an armored car guard at a Catonsville automated teller machine, the FBI said yesterday.Two men robbed the guard, an employee of Loomis Fargo, as he began putting money into an ATM beside an Amoco gas station in the 600 block of Frederick Road. The robbers taped the guard's eyes and mouth, handcuffed him and sprayed him with chemical spray before taking a substantial amount of money, county police said.

A bankruptcy judge has allowed four major creditors to take back approximately 300 building lots in Maryland and Virginia from the Chapter 7 liquidation of Regency Homes Inc. and its affiliates, a move that gets homebuyers a step closer to a resolution in one of the largest homebuilder debacles ever in Maryland.Judge S. Martin Teel Jr. signed off on a motion of sale Friday from Zvi Guttman, trustee for the estate, that allows Provident Bank of Maryland, Sterling, Va.-based Bank United, First Union National Bank and Ohio Savings Bank of Cleveland to take back their lots in exchange for $21 million in secured claims against the estate.

Expanding its base in Central Maryland, Mason-Dixon Bancshares Inc. of Westminster said yesterday that it will acquire Sterling Bancorp, the parent company of Sterling Bank and Trust Co., for $10.3 million in cash.Sterling, a Baltimore bank with four branches and $70 million in assets, will be merged into Mason-Dixon's Bank of Maryland subsidiary.Sterling's Pikesville and downtown Baltimore branches will be closed, but the Timonium and Annapolis branches will be retained. Mason-Dixon expects the consolidation to bring savings of about $2 million, or 66 percent of Sterling's 1998 projected general and administrative expenses.

New positionsMurphy is vice president at Maryland School for BlindThe Maryland School for the Blind named William Wells Murphy vice president for programs. He will oversee personnel, legal and compliance issues for the special education school.The Bel Air resident was executive assistant to the superintendent of the Harford County public school system. Murphy holds master's degrees from San Francisco State College and Boston College. He is an active member of the National Association of Secondary School Principals and the American Association for School Administrators.

DAIMLER-BENZ's acquisition of Chrysler Corp., while startling in size, does not herald a new era in global capitalism. Mergers between European and American companies have been taking place for some years. As corporations look to improve their earnings and streamline their operations, future cross-border mergers will involve large enterprises in every industry.By any measure, the Daimler-Chrysler marriage is gigantic. The deal is worth $39 billion. It will create a company with 420,000 employees, annual sales of $130 billion and profits of $4.6 billion.