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By William B. Talbott and Patrick Ercolano and William B. Talbott and Patrick Ercolano,Evening Sun Staff | October 29, 1991
The driver of an armored vehicle was robbed of about $8,000 today at a downtown bank after he was sprayed in the face with tear gas.The Brink's delivery man, Robert Scharf, was attacked as he attempted to step off a private elevator leading to the First American Bank inside the Gallery, at Calvert and Lombard streets.Neither Brink's Inc. nor First American Bank would say not whose money was taken.At about 9:45 a.m., Scharf carried a white money bag from a Brink's truck into the lobby on the Lombard Street side of the Gallery.
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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | January 13, 1995
The auction of the NationsBank Center II tower was canceled yesterday after the building's owner filed for bankruptcy court protection from creditors.Tower II Associates L.P. filed for Chapter 11 on Wednesday, said Joseph Schaller, an attorney for Provident Bank of Maryland, the foreclosing lender. The partnership, controlled by Ackerman & Co. of Atlanta, owed Provident $1.05 million as of Dec. 21, the remainder of a $1.45 million loan the bank made in 1989.Provident only has the third mortgage on the property, formerly known as the Equitable Bank Center II, Mr. Schaller said.
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NEWS
By Steve Goldberg and Steve Goldberg,Media General News Service | August 24, 1991
WASHINGTON -- The Justice Department was told in 1982 that the Bank of Credit and Commerce International was involved in the takeover of First American Bank, according to a filing that apparently sat ignored in a public records room for years.The information, contained in a filing by investment broker Kidder Peabody, is the earliest known documentation that BCCI had taken over the huge U.S. bank that year despite assurances to the contrary.The filing was made four years before a secret CIA memo was circulated to Cabinet departments telling them that BCCI was the actual owner of First American Bank and eight years before the Federal Reserve Board said that it discovered who First American's owners really were.
BUSINESS
By David Conn and David Conn,Sun Staff Writer | June 4, 1994
Maryland's state-chartered banks shored up their financial reserves in the first quarter of this year, but the price was a small drop in profitability, according to a state report.The 70 mostly smaller banks and trust companies that are regulated primarily by the state managed a first-quarter return on assets of 0.93 percent, the Maryland Bank Commissioner reported this week, despite a rise in interest rates that generally benefited financial institutions. Return on assets -- or net income divided by assets -- is a ratio that measures profitability without .. regard to the size of an institution.
NEWS
January 21, 1994
The BCCI scandal just won't go away. No sooner does it appear we have heard the last sensational development associated with the Bank of Credit and Commerce International, along comes another. This time it is a multi-million-dollar deal with an Arab ruler that will open up a huge cache of information about the gigantic, world-wide swindle.One of a prosecutor's favorite tools in a major case is what is known as "trading up." That means the prosecutors offer a deal to a less important defendant -- usually accepting a plea to a lesser charge -- in return for evidence incriminating a more important target.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | January 13, 1995
The auction of the NationsBank Center II tower was canceled yesterday after the building's owner filed for bankruptcy court protection from creditors.Tower II Associates L.P. filed for Chapter 11 on Wednesday, said Joseph Schaller, an attorney for Provident Bank of Maryland, the foreclosing lender. The partnership, controlled by Ackerman & Co. of Atlanta, owed Provident $1.05 million as of Dec. 21, the remainder of a $1.45 million loan the bank made in 1989.Provident only has the third mortgage on the property, formerly known as the Equitable Bank Center II, Mr. Schaller said.
NEWS
By Adam Sachs and Adam Sachs,Staff Writer | November 19, 1992
A 108-year-old Carroll County community bank has expanded into Howard County, but the new branch office won't have to build its business base from scratch.Taneytown Bank & Trust Co. Executive Vice President Frank W. Neubauer Jr., who previously worked more than 20 years for Howard County banks, said he and several newly hired Taneytown Bank lending officers with connections in Howard will be able to strengthen their local ties to generate loan activity."This is a natural extension to continue relationships," said Mr. Neubauer, who left First American Bank of Maryland's Columbia operation in March to head Taneytown Bank's lending division.
NEWS
January 14, 1993
Ernest E. Wooden Fund offers 5 scholarshipsThe Ernest E. Wooden Educational Fund Inc. is accepting applications.The purpose of the fund is to assist young people in the furtherance of their education who, because of financial limitation, may be unable to achieve their goals.The award will be based on the applicants' demonstrated ability to achieve.This year the fund will award five scholarships of up to $1,200 each. Young people in the community of the Farmers & Merchants Bank are eligible for consideration.
BUSINESS
By Michael Pollick | August 1, 1991
An article in yesterday's Business section mentioned decline in deposits at MNC Financial Inc. in the first quarter but failed to mention that the primary cause of the decline was the sale of MNC's credit-card subsidiary, MBNA America.The Sun regrets the errors.While an ongoing international scandal and bad real estate loans have not helped its image, First American Bank of Maryland and its bank holding company seem to be holding their own, thanks to two cash infusions this year from the bank's principal investor, the ruler of Abu Dhabi.
BUSINESS
By Thomas Easton and Thomas Easton,New York Bureau of The Sun | August 1, 1991
NEW YORK -- The link between the 45 branches of First American Bank of Maryland and the notorious Bank of Credit and Commerce International is through a string of at least six intermediary holding companies with, according to federal regulators, an illegal tie up top.Using the string metaphor, at one end is First American of Maryland, as well as other banks in New York, Tennessee, Georgia, Florida and Virginia. At the other is BCCI. In Maryland's case, the documented progression is as follows:First American Bank of Maryland is owned by Maryland Bankshares, Inc. of Baltimore, which in turn is owned by First American Metro Corp.
NEWS
January 21, 1994
The BCCI scandal just won't go away. No sooner does it appear we have heard the last sensational development associated with the Bank of Credit and Commerce International, along comes another. This time it is a multi-million-dollar deal with an Arab ruler that will open up a huge cache of information about the gigantic, world-wide swindle.One of a prosecutor's favorite tools in a major case is what is known as "trading up." That means the prosecutors offer a deal to a less important defendant -- usually accepting a plea to a lesser charge -- in return for evidence incriminating a more important target.
NEWS
By Amy L. Miller and Amy L. Miller,Staff Writer | January 13, 1994
Taneytown Bank and Trust customers should see few changes as Frank W. Neubauer takes over as president and chief executive officer of the northern Carroll-based bank.Mr. Neubauer replaces executive Carroll D. Myers, who retired at the end of 1993 after 20 years with Taneytown Bank, 15 as president and CEO."The [transition] should be a pretty transparent process," said Mr. Neubauer. "Carroll Myers and I have worked together for two years, and I don't see myself making any dramatic, abrupt changes."
BUSINESS
By David Conn and David Conn,Staff Writer | April 4, 1993
The condition of Maryland's banks improved yet again during the third quarter of last year, according to Wisconsin-based IDC Financial Inc., which rates banks and thrifts.On a scale with 1 being the worst and 300 the best, Maryland banks scored a 130 in the quarter that ended Sept. 30, 1992, up from 118 the prior quarter.Regardless of a bank's IDC rating, depositors are federally insured up to $100,000.The improvement in Maryland mirrored banks' performance nationwide, as the industry scored 165 in the third quarter, compared with 157 in the second quarter, according to IDC.Several Maryland banks say their conditions have improved since the third quarter, which could boost their IDC ratings:* Baltimore Bancorp reported profits in both the third and fourth quarters, and raised $4.5 million in capital from stock sales in the fourth quarter, says Treasurer David Spilman.
NEWS
By Roger Twigg and Roger Twigg,Staff Writer | March 12, 1993
Three Baltimore banks -- two of them in the downtown area -- were robbed yesterday in a span of 36 minutes, according to police.Police said no one was injured.The first robbery occurred at 8:55 a.m. at the First American Bank of Maryland branch in the 200 block of E. Lombard St., said Agent Doug Price, a police spokesman.Police said that two men entered the bank and one of them pulled a handgun while the other vaulted the counter and took an undisclosed amount of cash from a teller's drawer.
NEWS
January 14, 1993
Ernest E. Wooden Fund offers 5 scholarshipsThe Ernest E. Wooden Educational Fund Inc. is accepting applications.The purpose of the fund is to assist young people in the furtherance of their education who, because of financial limitation, may be unable to achieve their goals.The award will be based on the applicants' demonstrated ability to achieve.This year the fund will award five scholarships of up to $1,200 each. Young people in the community of the Farmers & Merchants Bank are eligible for consideration.
NEWS
By Adam Sachs and Adam Sachs,Staff Writer | November 19, 1992
A 108-year-old Carroll County community bank has expanded into Howard County, but the new branch office won't have to build its business base from scratch.Taneytown Bank & Trust Co. Executive Vice President Frank W. Neubauer Jr., who previously worked more than 20 years for Howard County banks, said he and several newly hired Taneytown Bank lending officers with connections in Howard will be able to strengthen their local ties to generate loan activity."This is a natural extension to continue relationships," said Mr. Neubauer, who left First American Bank of Maryland's Columbia operation in March to head Taneytown Bank's lending division.
BUSINESS
By David Conn and David Conn,Staff Writer | April 4, 1993
The condition of Maryland's banks improved yet again during the third quarter of last year, according to Wisconsin-based IDC Financial Inc., which rates banks and thrifts.On a scale with 1 being the worst and 300 the best, Maryland banks scored a 130 in the quarter that ended Sept. 30, 1992, up from 118 the prior quarter.Regardless of a bank's IDC rating, depositors are federally insured up to $100,000.The improvement in Maryland mirrored banks' performance nationwide, as the industry scored 165 in the third quarter, compared with 157 in the second quarter, according to IDC.Several Maryland banks say their conditions have improved since the third quarter, which could boost their IDC ratings:* Baltimore Bancorp reported profits in both the third and fourth quarters, and raised $4.5 million in capital from stock sales in the fourth quarter, says Treasurer David Spilman.
BUSINESS
By David Conn and David Conn,Staff Writer | September 4, 1992
The 75 state-chartered banks in Maryland turned in an encouraging performance during the first half of the year, earning 19 percent more money than in the same period last year.Maryland's bank commissioner reported that the state-chartered banks earned a profit of $88 million for the period, compared with $73.8 million during the first half of 1991.The gain was even more impressive when contrasted with the last half of 1991, when Maryland-chartered banks lost $120.2 million.The biggest winner during the period was Mercantile Bankshares Corp.
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