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NEWS
November 15, 2011
I read with interest Peter Yarrow's recent opinion piece in The Sun ("Tell the banks 'no thanks,'" Nov. 4).Though I certainly get his point about providing the public sound options in support of their banking needs, he threw smaller community banks under the bus by stating that "it might make sense for you to take your money and run - directly to the nearest credit union. " Community banks across this country do, in fact, have tight ties to the communities they serve, provide tremendous charitable support for things like Habitat for Humanity, Little League, and local Main Street businesses.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 10, 2014
NBRS Financial Bank, an independent community bank serving Cecil and Harford counties, has been given 60 days to sell itself or combine with another bank and increase equity by selling shares, federal regulators said. The bank was found to have been undercapitalized as of Oct. 28 but has not filed a required plan to shore up its operations, according to a directive issued Monday by the Federal Reserve System's board of governors. NBRS, founded in 1873 and originally chartered as The Evans and Wood Bank, now has six branches and $199.3 million in deposits.
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BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | July 16, 2004
Two Maryland community banks reported second-quarter earnings results yesterday, with Columbia Bancorp posting a 9.7 percent increase in net income and Olney-based Sandy Spring Bancorp recording a 27 percent decrease as low interest rates and a suffering securities portfolio sapped profits. Sandy Spring had net income of $6.4 million, or 43 cents per share, in the quarter that ended June 30, down from $8.7 million, or 60 cents per share, posted for second-quarter 2003. Year over year, deposits were up 6 percent to $1.7 billion and total assets climbed 2 percent to $2.4 billion.
BUSINESS
The Baltimore Sun | October 23, 2013
MVB Financial Corp., a bank holding company based in Fairmont, W.Va., announced an agreement Wednesday to acquire the assets of CFG Community Bank for $30 million. Based in Baltimore, CFG has offices in Fells Point, Lutherville and Annapolis, which will become part MVB Bank and assume that name. The deal requires regulatory approval. "This acquisition is the next step in the expansion of our regional market presence for MVB Bank," said Larry F. Mazza, CEO of MVB Financial.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | November 9, 2001
With the economy sinking into recession, leaders from a dozen community banks in the mid-Atlantic region gathered in Baltimore over the past two days to give the investment industry a glimpse into their companies and laud their financial health. "It's a very successful conference," said William J. Reuter, president of Susquehanna Bancshares Inc. of Lititz, Pa. "I attended on Monday a Wall Street analyst conference that was well done, but the crowd here is twice as big." Several bank leaders spoke of the Baltimore-Washington corridor's economic allure, with its strong base of government jobs.
NEWS
February 16, 2004
Howard hospital appoints Cservek to public relations post Kevin M. Cservek has been named senior communications project manager, assigned to the public relations department of Howard County General Hospital. He will work on internal and external communications, and will help to implement a new physician portal on the hospital's Web site. Cservek joined the hospital this year after five years as senior public relations specialist at Harbor Hospital in Baltimore. He is a graduate of Towson University.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | February 4, 2003
At a banking conference in North Carolina late last year, bankers from across this country and Canada were bemoaning the sorry state of their industry: Low interest rates were squeezing profit margins, problem loans were on the rise and the North American economy was down for the count with no rebound in sight. Baltimore banker Edwin F. Hale Sr., one of the scheduled speakers, had arrived at the conference with no such complaints. He had already known that this area's community banks were performing well.
NEWS
By DAVID MORRIS | August 14, 1991
St. Paul, Minnesota-- When Jesse James robbed a bank he 7/8walked up to the tellers, pointed a gun in their faces and demanded the money.Today, our elected officials in Washington are about to pull off a heist on a scale unimaginable to James. But as befits a more civilized era, their weapon of choice is not a gun, but a piece of legislation preposterously named the Financial Institutions Safety and Consumer Choice Act of 1991.Don't let the name fool you. As financial analyst Henry Kaufman warned the Senate Banking Committee this spring, this measure ''ultimately puts in jeopardy the fundamental economic democracy of this country.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 8, 2010
Wells Fargo plans to close 20 subprime lending offices in Maryland over the next two months, but many of the employees would be reassigned rather than laid off, according to company officials. The company is shuttering its 638 Wells Fargo Financial storefronts nationwide, eliminating 2,800 jobs, because it's getting out of the subprime mortgage business. The locations, often in poorer areas, also provide customers with higher-interest credit cards and auto loans. The company announced the closures Wednesday and that it would probably cut 1,000 more Wells Fargo Financial positions within a year.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | July 17, 2002
Columbia Bancorp said yesterday that its second-quarter net income jumped nearly 20 percent to $2.32 million, while its total assets reached a record level of nearly $1 billion. Columbia, the parent company of Columbia Bank, said diluted per-share earnings rose 18.5 percent, to 32 cents a share in this year's second quarter from 27 cents a share in the second three months of last year. Columbia said its net income increased 19.6 percent to $2.32 million in the second three months of this year from $1.94 million during the corresponding quarter a year ago. "We were very pleased with the quarter," said John A. Scaldara Jr., chief financial officer.
NEWS
By Alison Knezevich, The Baltimore Sun | September 28, 2013
Maryland State Police are searching for two of three men they say robbed an Eldersburg bank Saturday morning. Employees of the Carroll Community Bank, 1321 Liberty Road, told police that three men entered the bank shortly after 11:30 a.m., displayed a gun and demanded money, police said. One robber fled in a red Dodge Durango on Barnett Avenue, while the others left in a blue four-door sedan, police said. Police apprehended a suspect in the red Dodge Durango after a brief pursuit.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | December 7, 2012
It's the billion-dollar question for Maryland banks: Do they need at least that much in assets to survive? "Who knows what the magic number is? A billion, $1.5 billion, $750 million?" said Ronald Paul, chairman of Eagle Bancorp, parent of the second-largest Maryland-based bank, with $2.96 billion in assets. "I can tell you it is getting harder and harder for the smaller bank. " Banks of all sizes are feeling more pressure. Profits are squeezed by historically low interest rates meant to spur borrowing, yet loan demand still remains soft.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | December 5, 2012
CFG Community Bank laid off six employees last week in its operations and branch network, the Baltimore-based bank said. President and CEO A. Gary Rever said the layoffs were the result of a shift in strategy and nothing to do with the financial health of the bank. CFG has $428 million in assets and earned $7.1 million for the first nine months of this year. The privately held bank employs 103 workers and has three branches in Baltimore, Lutherville and Annapolis.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | November 16, 2012
Delmar Bancorp has no regrets about taking a $9 million investment from the federal Troubled Asset Relief Program, even though some banks have rushed for the exit. "We did it as an abundance of caution," said Ed Thomas, president of the parent of Bank of Delmarva, which serves the still-struggling Eastern Shore. "I'm glad we did it because we didn't know how deep the financial downturn was going to be. " TARP provided capital at an attractive price, he said. Created four years ago as the country's financial system teetered on the verge of collapse, TARP provided more than 700 banks with a combined $205 billion of capital by buying dividend-paying preferred shares.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | June 18, 2012
Small businesses needing loans should think small — bankwise, that is. That's the finding of a new Internet tool that grades banks on their small-business lending. Banking Grades, which measures loans in relation to deposits, gives As and Bs to many community banks but Ds or worse to some banking behemoths. In Maryland, for instance, M&T Bank received a C — one of the best grades for a larger bank — while SunTrust and PNC received Ds. Bank of America got an F. Ouch! Meanwhile, lesser-known, smaller banks are taking home As. Those include the Harbor Bank of Maryland in Baltimore, Howard Bank in Ellicott City, Revere Bank in Anne Arundel County and Woodsboro Bank in Frederick County.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 29, 2012
The first sign that this isn't an ordinary warehouse in southwest Baltimore is the bright blue murals of screwdrivers, wrenches and other tools painted on the exterior. Inside, the real thing: shovels, rakes, hammers, paint trays, pliers, hard hats, ladders, wheelbarrows, electric drills and just about every tool imaginable for rehabbing a house or sprucing up a park. It's like a mini Home Depot. This is the home of the new Baltimore Community ToolBank, a nonprofit that opens today and the third of its kind in the country.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | November 21, 1997
Mercantile Bankshares Corp. said yesterday that it has entered into a definitive agreement to acquire Marshall National Bank and Trust Co. in a deal valued at $22.7 million.The move by Mercantile, which is Maryland's largest independently owned banking company, with $7 billion in assets, expands its Virginia franchise where it already operates three affiliated banks."It is exactly the kind of bank were are looking for in our family of community banks," said H. Furlong Baldwin, Mercantile's chairman and chief executive.
NEWS
November 20, 1998
OCCASIONALLY, the little guy wins. After a year of resisting a takeover from First Mariner Bancorp, Glen Burnie Bancorp was able to chase off the larger banking company and its principal shareholder, Edwin F. Hale Sr.The cost of Glen Burnie's independence was considerable, however. First Mariner received $5.6 million, allowing it to reap a $1 million profit on the stake it bought a year ago. The payment reduced Glen Burnie's capital by 27 percent, substantial for any financial institution.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 21, 2012
Maryland small businesses gripe that they can't get loans from banks. Lenders complain of a dearth of borrowers. Is there any way to get these two together? The state is going to try, under legislation expected to be signed into law today. Maryland will use a carrot — or, rather, up to $50 million in deposits — to encourage banks here to lend to small businesses. Basically, participating banks that make loans to small businesses will receive an equal amount of deposits from the state.
NEWS
April 28, 2012
The op-ed by State Employees Credit Union CEO Rod Staatz ("Let credit unions do their job," April 25) compels me to respond on behalf of the Maryland banking industry. In his commentary, Mr. Staatz, who runs Maryland's largest credit union, argues that the congressionally-mandated cap on credit union small business lending should be more than doubled (from 12.25 percent of assets to 27.5 percent of assets) as called for in a bill (S. 2231) pending in Congress. We strongly disagree.
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