Advertisement
HomeCollectionsBankshares
IN THE NEWS

Bankshares

FIND MORE STORIES ABOUT:
FEATURED ARTICLES
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | March 17, 1993
A small Michigan bank holding company has signed a letter of intent to buy Capital Bankshares Inc., the Timonium-based parent of Capital Savings Bank FSB, for about $5.2 million in cash and stock.Newberry Bancorp Inc. of Sault Ste. Marie, Mich., agreed to pay $15.88 per share in cash for the 290,000 fully diluted shares of Capital.Capital shareholders would also receive one share of Newberry stock for each share of Capital stock they own. Based on a closing bid price of $2.25 for Newberry stock yesterday, that portion of the deal was worth $605,380.
ARTICLES BY DATE
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 2, 2013
The Federal Reserve Board announced Thursday that it terminated an enforcement action against Baltimore-based Harbor Bankshares Corp. The Federal Reserve Bank of Richmond issued the action in July 2010, reaching an agreement with the holding company to take steps to shore up its finances. The company, parent of The Harbor Bank of Maryland, agreed to comply with consent orders from other regulators as well as not to pay dividends, take on more debt or redeem shares without the approval of the Federal Reserve Bank first.
Advertisement
BUSINESS
By Laura Smitherman and Laura Smitherman,Sun reporter | July 20, 2007
Provident Bankshares Corp., Maryland's largest independent bank, reported yesterday that profit dropped 23 percent in the second quarter, mostly because it charged off a $3.5 million commercial loan to a government contractor that failed to repay. Chief Executive Officer Gary N. Geisel emphasized that the Baltimore bank, which outsources its residential-mortgage business, has not been hurt by the wave of defaults on subprime mortgages that is rattling the banking sector nationwide. While Provident makes some home-equity and consumer loans that could be considered subprime, meaning the borrowers have poor credit histories, those are a "modest" part of the overall portfolio, he said.
BUSINESS
By Hanah Cho, The Baltimore Sun | July 6, 2010
Although many locally owned banks in Maryland are continuing to reel from the fallout of the mortgage crisis, BlueRidge Bank sees an opening to expand in the Baltimore region. The Frederick-based bank — the only banking institution to open in the state in more than two years — recently opened an office in Towson to serve business customers. BlueRidge executives plan to open a retail branch in the Baltimore area by the end of the year, while eyeing other parts of Maryland, such as Montgomery County, for growth.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | January 10, 2001
Provident Bankshares Corp. said yesterday that it has named Gary N. Geisel president and chief operating officer, dismantling a structure that in essence had Geisel and two other executives sharing the No. 2 position at the Baltimore bank holding company and its principal subsidiary, Provident Bank. John F. Novak and Richard J. Oppitz Jr., the other two executives, were appointed executive vice presidents of Provident Bank. As members of the Office of the Chairman, all three executives reported to Chairman and Chief Executive Officer Peter M. Martin.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,eileen.ambrose@baltsun.com | November 18, 2008
Provident Bankshares Corp. announced yesterday that it received $151 million from a federal program designed to spur lending. Maryland's largest independent bank received the maximum amount an institution of its size is allowed under the voluntary program. In exchange for the cash, Provident sold senior preferred shares and warrants to purchase common stock to the U.S. Treasury. "It's an endorsement, in effect, that the Treasury and regulators see that Provident is ... strong enough to warrant the investment," said Bert Ely, a banking analyst in Virginia.
NEWS
July 21, 1995
An article in yesterday's editions about Provident Bankshares Corp.'s second-quarter earnings misstated the bank's assets. The correct number is $2.4 billion.The Sun regrets the error.
NEWS
April 22, 1994
In earnings charts published in yesterday's Business section for Provident Bankshares Corp. and First Maryland Bancorp, the date on which the first quarter ended was reported incorrectly. The first quarter at both banking companies ended March 31. The name of Robinson Humphrey Co. Inc. was also misstated.+ The Sun regrets the errors.
BUSINESS
December 10, 2001
Insider transactions of 1,000 shares or more for public companies based in Maryland or with operations here. Provident Bankshares Carl W. Steam, director, purchased 4,300 shares of common at $22.60 each on Nov. 6 and sold 4,300 shares at $22.57 each on Nov. 6 and now directly and indirectly holds 54,343. Insider Trading is compiled by Thomson Financial/First Call.
BUSINESS
By David Conn and David Conn,Staff Writer | July 22, 1993
Provident Bankshares Inc. yesterday joined the ranks of Maryland banking companies that have reported strong second-quarter earnings in recent weeks, completing its third quarter in a row of more-than-doubled profits.Provident .. .. .. .. .. .. .. Ticker .. .. .. .. Yesterday'sBankshares Corp. .. .. .. .. .. Symbol .. .. .. ..Cls. .. .. Chg... .. .. .. .. .. .. .. .. .. .. PBKS .. .. .. .. 15 3/8 .. .. .. +Period endedJune 30 .. .. .. .. .. .. .. ..2nd qtr. .. .. .. Year ago .. Chg.Net Income .. .. .. .. .. .. ..$1,905 .. .. .. .. $904 .. .. +110.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,eileen.ambrose@baltsun.com | November 18, 2008
Provident Bankshares Corp. announced yesterday that it received $151 million from a federal program designed to spur lending. Maryland's largest independent bank received the maximum amount an institution of its size is allowed under the voluntary program. In exchange for the cash, Provident sold senior preferred shares and warrants to purchase common stock to the U.S. Treasury. "It's an endorsement, in effect, that the Treasury and regulators see that Provident is ... strong enough to warrant the investment," said Bert Ely, a banking analyst in Virginia.
BUSINESS
By Dan Thanh Dang and Dan Thanh Dang,SUN REPORTER | October 19, 2007
Provident Bankshares Corp. reported yesterday that profit declined 22 percent in the third quarter because of higher interest rates the bank paid to attract customer deposits and a greater amount of money it had to set aside to cover bad loans. In the three months that ended Sept. 30, net income at Maryland's largest independent bank declined to $16 million, or 50 cents per share, from $20.4 million, or 62 cents per share, for the third quarter of 2006. Analysts polled by Thomson Financial expected earnings of 52 cents per share.
BUSINESS
By Laura Smitherman and Laura Smitherman,sun reporter | October 20, 2006
While many banks have been taking a hit from the slowing housing market, Provident Bankshares Corp. reported yesterday that its third-quarter profit increased 12 percent, partly because the Baltimore institution had outsourced its residential-mortgage business years ago. The second-largest independent bank in Maryland - it's set to become the largest after Mercantile Bankshares Corp.'s sale to PNC Financial Services Group of Pittsburgh - said net income rose to $20.4 million, or 62 cents per share, from $18.3 million, or 54 cents per share, a year ago. The earnings report was 1 cent shy of Wall Street expectations, according to a consensus of analysts polled by Thomson Financial.
BUSINESS
By Hanah Cho and Hanah Cho,Sun reporter | October 11, 2006
First Mariner Chairman and chief executive Edwin F. Hale Sr. wasted no time in crafting a strategy to snare customers of Mercantile Bankshares Corp. yesterday. A day after Mercantile agreed to sell itself to an out-of-town bank, Hale met with his marketing and advertising teams to produce a television spot highlighting First Mariner's ties to Baltimore. "I told them literally to pick up the pace and roll out the customer talk about us being the local bank," said Hale, the majority owner of the Baltimore-based bank.
BUSINESS
By LAURA SMITHERMAN and LAURA SMITHERMAN,SUN REPORTER | April 21, 2006
Provident Bankshares Corp. reported yesterday that first-quarter profit jumped 16 percent as home-equity and commercial real estate lending increased, but those results missed Wall Street forecasts and the stock posted its biggest one-day percentage drop in nearly two years. The second-largest independent bank in Maryland had net income of $18.3 million, or 55 cents per share, compared with $15.8 million, or 47 cents per share, a year ago. The latest results were three pennies shy of the 58 cents per share forecast by analysts, according to Thomson Financial.
BUSINESS
By Laura Smitherman and Laura Smitherman,SUN STAFF | January 26, 2005
Mercantile Bankshares Corp., Maryland's largest independently owned bank, has agreed to buy Community Bank of Northern Virginia for $212 million in a bid to increase its presence in the fast-growing Washington suburbs and build a more wealthy clientele base. Baltimore-based Mercantile said yesterday that it will pay a market premium of nearly 20 percent for Community Bank stock, based on Monday's closing price of $17.20. With the deal, Mercantile will acquire 13 branches in the Virginia counties of Loudoun and Fairfax and bring its total number of branches in the northern part of the state to 15. Mercantile also reported that its net income in the fourth quarter of 2004 increased 19.7 percent to $60.6 million from $50.6 million during the fourth quarter of 2003.
BUSINESS
November 15, 1999
Below are insider transactions for publicly held companies based in Maryland or having substantial operations here. Insiders are officers, directors or owners of 10 percent or more of a corporation's stock.Legg Mason Inc.Edmund J. Cashman,director, disposed of, by gift, 500 shares of common at an unreported price Sept. 29 and now directly holds 383,266 common.Mercantile BanksharesRichard O. Berndt,director, purchased 3,000 shares of common at between $32.63 and $32.88 each Oct. 19 and now directly holds 32,317 common.
BUSINESS
February 11, 1994
Boston Fed chief to head AmexBoston Federal Reserve President Richard Syron, a rising star at the central bank, said yesterday he's resigning to become chairman of the American Stock Exchange.Mr. Syron, 50, was a member last year of the Fed's policy-making Open Market Committee, which makes decisions that influence the direction of interest rates in the economy. He served as president of the Boston Fed for the last five years.Mr. Syron replaces James R. Jones, a former Oklahoma congressman who joined the Clinton administration as ambassador to Mexico.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | May 1, 2004
Mercantile Bankshares Corp., Maryland's largest independent bank, said yesterday that it will combine 11 of its affiliate banks into four new organizations as part of a move to cut costs and make it easier to comply with increasingly complex federal regulations. The reorganization will strip most of the 11 banks of their former identities and likely result in a small number of layoffs in what the bank called "nominal staff displacements." But other than the names, little will change for customers, bank officials said.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.