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BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | June 18, 1998
Patapsco Bancorp Inc., the holding company for Patapsco Bank, said yesterday that it has signed an agreement to acquire Belmar Federal Savings and Loan Association in Baltimore.Belmar, a one-office mutual company with assets of $18.7 million, will be merged into the Patapsco Bank in Dundalk.Patapsco Bancorp stock will be offered to qualified members of Belmar at a discount to the market price, said Joseph Bouffard, the holding company's president.As part of the acquisition, Belmar will convert to a commercial bank, Bouffard said.
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NEWS
By Jacques Kelly, The Baltimore Sun | October 15, 2012
Janet Browne, a retired designer who outfitted the interiors of colleges and banks during a lengthy career collaborating with her architect husband, died of congestive heart failure Oct. 12 at the Pickersgill Retirement Community in Towson. The longtime Guilford resident was 91. Born Janet Augusta Biedler in Baltimore and raised on Calvert Street in Charles Village, she attended Friends School and was a 1939 Western High School graduate. She then earned a degree in design from the Maryland Institute College of Art . She later earned a bachelor's degree from the Johns Hopkins University.
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BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | February 27, 1996
Patapsco Federal Savings and Loan Association said yesterday that it has received approval from federal regulators to convert to a federally chartered savings and loan that is publicly held.Once the conversion is completed, the Dundalk-based thrift, which is currently owned by depositors, plans to become a state-chartered commercial bank upon receiving approval from state and federal banking regulators.The conversion "will enable us to access the capital markets more effectively as a stock organization," said Joseph Bouffard, president of the $77.1 million-asset Patapsco Federal.
BUSINESS
By Jay Hancock, The Baltimore Sun | December 24, 2011
In coming years your community bank may be merging with a rival, closing branches and redesigning the interiors of branches that remain, says Columbia-based banking consultant Anita G. Newcomb. With nearly three decades of experience running banks, handling bank mergers and advising banks on strategy, Newcomb sees smaller lending institutions combining in a manner similar to what happened to the industry after the financial collapse of the late 1980s. All banks are pressured by new red tape, fee limits and interest rate squeezes.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | January 22, 2004
Provident Bankshares Corp. reported a 6.6 percent increase in fourth-quarter net income yesterday, saying its commercial loans and core deposits grew. The Baltimore-based bank reported net income of $14.2 million, or 56 cents per share, for the quarter that ended Dec. 31, compared with a profit of $13.3 million, or 53 cents per share, for the year-earlier period. The results beat analysts' estimates by a penny, according to Thomson First Call. "It feels pretty good," said Gary N. Geisel, Provident's chairman and chief executive.
NEWS
By Alan J. Craver and Alan J. Craver,Staff writer | March 10, 1991
A Pennsylvania man was charged Wednesday in connection with an armedrobbery at the Commercial Bank in Bel Air earlier that day. He is suspected of stealing more than $1,600 in cash after threatening a teller with a handgun.John W. Harkins, spokesman for the Bel Air Police Department, said police are now investigating whether the suspect arrested in the Commercial Bank robbery -- Jason S. Leamer, 19, of Hollidaysburg, Blair County, Pa. -- was involved in the Feb. 11 armed robbery of the Baltimore County Savings Bank in Bel Air.Bel Air police charged Leamer with theft, robbery with a deadly weapon, and use of a handgun for the hold-up at the Commercial Bank, court records show.
NEWS
By Jamie Stiehm and Jamie Stiehm,SUN STAFF | March 16, 1997
Baltimore County police are canvassing Catonsville for a man who robbed a Farmers & Commercial Bank branch on Frederick Avenue between Bloomsbury Avenue and Bishops Lane yesterday morning, police said.At 9: 15 a.m., shortly after the bank opened at 9 a.m., a man entered the bank and demanded money from a teller. No customers were in the branch at the time. When the teller did not comply immediately, the man started shouting but did not threaten the teller or show a weapon, according to police.
NEWS
By Alisa Samuels and Alisa Samuels,Staff writer | March 25, 1992
Columbia Bancorp. and Fairview Federal Savings & Loan Association plan to merge, an agreement that would make The Columbia Bank the thirdlargest commercial bank in Howard County.Columbia Bancorp is theparent company of The Columbia Bank. Fairview Federal Savings & Loanis based in Ellicott City.Federal regulators must still approve the plan. A decision is expected before summer.In November, the financial institutions announced Columbia Bank's intention to acquire Fairview Federal, a federalthrift established in 1916, with assets of about $108 million.
NEWS
By Doug Struck and Doug Struck,Sun Staff Correspondent | March 25, 1991
KUWAIT CITY -- For seven months the Kuwaiti dinars lay hidden with gold bracelets and rings in a hole beneath the tiles of his bathroom floor.Now Abdul Hamed al-Atar was handing over the $8,500 in old currency to the Commercial Bank of Kuwait in return for the freshly printed bills of new Kuwaiti dinars."
NEWS
June 2, 1991
From: David C. WilliamsPresidentGreater Pasadena CouncilIn 1990, I had two Bt sprayings (one state and one private) and subsequently killed 11,000 gypsy moth caterpillars on 36 trees.This year, after scraping every egg mass that I could find, I had two Demilin sprayings (again, one state and oneprivate) and every gypsy moth caterpillar on my property has died. Believe me, it does pay to attack these critters in order to save yourtrees.GIVE TAXPAYERS A BREAKFrom: Bob DuckworthCandidate, 4th DistrictOver the past several decades, the tax-and-spend Congress has ballooned federal liabilities for taxpayers faster than incomes have grown.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 30, 2011
Baltimore County Savings Bank has converted from a federally chartered savings institution to a state-chartered commercial bank, it announced Friday. Joseph J. Bouffard, the president and chief executive officer of the bank and parent BCSB Bancorp, said the move was is consistent with the bank's community banking focus and would allow it to better "compete in our market. " The conversion became effective as of Friday's closing. It will not change customers' loan and deposit accounts or the Federal Deposit Insurance Corp's $250,000 insurance limit.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,andrea.walker@baltsun.com | May 14, 2009
The defunct Suburban Federal Savings Bank, which succumbed to the mortgage crisis, is now Essex Bank and the new owners want to let everyone know it's a new institution with better standards. On Wednesday executives with Essex, headquartered in Tappahannock, Va., began a four-day tour to hold grand openings at the seven branches it bought in January when Suburban Federal became the first Maryland bank to go out of business because of bad real estate and construction loans. They'll follow up with a marketing campaign that includes television commercials and mailings later this summer.
BUSINESS
By New York Times News Service | September 17, 2008
NEW YORK - The investment bank Goldman Sachs, the firm that has looked the best throughout the credit crisis, reported a profit yesterday that was 70 percent less than a year ago, as executives tried to rebut notions that their firm's business model might be broken. Goldman's profit of $845 million, or $1.81 a share, in the third quarter compared with a profit a year earlier of $2.81 billion, or $6.13 a share. The results, while in the black, showed that even the strongest on Wall Street are having a tough time making money.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | January 22, 2004
Provident Bankshares Corp. reported a 6.6 percent increase in fourth-quarter net income yesterday, saying its commercial loans and core deposits grew. The Baltimore-based bank reported net income of $14.2 million, or 56 cents per share, for the quarter that ended Dec. 31, compared with a profit of $13.3 million, or 53 cents per share, for the year-earlier period. The results beat analysts' estimates by a penny, according to Thomson First Call. "It feels pretty good," said Gary N. Geisel, Provident's chairman and chief executive.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | October 10, 2002
Edwin F. Hale Sr. is selling the trucking company that served as the foundation for his growing banking and real estate holdings, and earned him a reputation as one of Baltimore's most prominent entrepreneurs. Hale Intermodal Trucking Co., which mostly transports cargo containers and machinery from Baltimore and other East Coast ports, will be taken over by Pottsville, Pa.-based Evans Delivery Co. Inc., an old-line transportation company that operates more than 500 tractors at terminals on the East Coast, including Maryland.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | June 12, 2001
Ralph Robertson says his bank is every bit as important to the success of his farm as the seed he sows, the tractors he drives and the cooperation of Mother Nature. The 54-year-old Carroll County farmer learned that more than 25 years ago, when the local bank with which he had been doing business turned its back on him because agriculture was going through a period of financial difficulty. When times were good, he said, the commercial bank served his money needs. "But in the mid-'70s, when times were tough for farmers, the bank shifted its focus," Robertson said.
BUSINESS
July 1, 1992
Saudi banker indicted in BCCI caseThe chief operating officer of Saudi Arabia's biggest bank has been indicted on charges of defrauding $300 million from depositors and customers in the BCCI banking scandal, the Manhattan District Attorney said today.Sheikh Khalid Bin Mahfouz of National Commercial Bank of Saudi Arabia and an associate were charged with scheming to defraud depositors, regulators and auditors of the Bank of Credit and Commerce International from 1985 to 1991, District Attorney Robert Morgenthau said.
BUSINESS
By Thomas Easton and Thomas Easton,New York Bureau of The Sun | March 3, 1991
New York--An obscure company's small public stock offering currently being managed by Baltimore-based Alex. Brown & Sons, the country's oldest investment bank, has reverberated throughout the securities industry by introducing a powerful new participant into the business.The deal, a $56 million equity offering for Pittsburgh-based AMSCO International Inc., marks the first time since the early 1930s that a commercial bank has even indirectly participated in a stock issuance. Working behind Alex.
NEWS
By Laura Sullivan and Matthew Mosk and Laura Sullivan and Matthew Mosk,SUN STAFF | October 2, 1999
A director of the Anne Arundel Economic Development Corp. helped arrange an $11,000 loan to a police support group on whose board he also serves, records released this week show. The loan had nothing to do with the agency's stated mission of helping disadvantaged businesses. Records show the county-funded agency lent the money to the Anne Arundel County Police Foundation to "help fund-raising efforts" and serve its mission of "community outreach." The law enforcement group raises money for an annual banquet and provides funds for such expenses as veterinary bills for police dogs, said Joseph Conte, the group's president.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | July 14, 1999
Columbia Bancorp's net income rose 8 percent in the second quarter as commercial lending increased, the Columbia banking company said yesterday.The company, the parent of Columbia Bank with 14 bank offices, reported income of $1.27 million for the three months that ended June 30, up from $1.18 million for the corresponding period a year earlier.The company made 28 cents per diluted share in the quarter, beating analysts' consensus estimate by 2 cents per share. The earnings marked a 12 percent jump from 25 cents per diluted share in last year's quarter.
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