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BUSINESS
January 16, 1991
C&S/Sovran Corp.The parent of Sovran Bank/Maryland posted a profit of $7.1 million in the fourth quarter after setting aside $237.5 million for possible loan losses. In the same period of 1989, the company earned $132.9 million.For all of 1990, Sovran reported earnings of $229 million, or $1.60 a common share, compared with $507.2 million, or $3.67 a common share, in 1989.Despite the decline in earnings, directors met and declared a regular quarterly dividend of $.39 a common share, payable March 15 to shareholders of record Feb. 28."
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NEWS
July 7, 1997
Patapsco Valley Bancshares buys data processing firmPatapsco Valley Bancshares Inc. of Ellicott City, the parent company of Commercial and Farmers Bank, has bought Central Maryland Service Corp., a data processing company.Patapsco Valley Bancshares was formed as a holding company in September 1996 for Commercial and Farmers Bank to expand its range of services.The purchase of Central Maryland Service Corp. will allow the company to provide financial information and accounting systems, electronic delivery systems (including online branch automation)
BUSINESS
January 22, 1992
MBNA Corp. said its fourth-quarter income rose 16 percent, as loan delinquencies and defaults on the company's credit card portfolio stayed below industry averages.MBNA said it earned $44.9 million in the fourth quarter, or 90 cents a share, compared with earnings of 38.6 million, or 78 cents a share, in the year-earlier period.For the year, MBNA earned $149.2 million, or $3 a share.MBNA also said it is raising its quarterly cash dividend 10 percent to 44 cents a share. The dividend is payable April 1 to stockholders of record as of March 25, the company said.
BUSINESS
By Peter H. Frank | April 26, 1991
Bank Maryland Corp., parent of the Bank of Maryland, reported yesterday that its first-quarter loss deepened slightly this year as a "continuing slow economy" maintained its dampening effect on the company's earnings.Unlike many of its large competitors, whose increasing pile of problem loans directly led to their recent losses, Bank Maryland's results were primarily blamed on the after-effect of troubled loans and the income from interest that has been lost as these loans soured.The Towson-based company is also moving to capture the benefits of the bank's reorganization last year when Bank Maryland's six banking subsidiaries merged into its flagship Bank of Maryland unit.
NEWS
April 25, 2004
On Tuesday, April 20, 2004 of Lusby, MD; beloved husband of Ruth D. Hersman and loving father of John Andrew Hersman, Megan M Storer and step-son Giovanni F. Del Alcazar. He is also survived by his mother Laura Ayersman Hersman; sister Nancy Harvey; granddaughters Isabella Hersman and Alexandra Del Alcazar; niece Jennifer Hogue and nephew Matthew Harvey. Mr Hersman was the assistant vice president at First Annapolis Bank from 1978-1980 where he was in charge of construction loan portfolio and was a Chief real estate appraisal officer and from 1983-1985 was promoted to Senior Vice President in charge of all loan department functions including commercial, residential, and consumer lending.
BUSINESS
By Amanda J. Crawford and Amanda J. Crawford,SUN STAFF | January 22, 2000
Columbia Bancorp, the parent company of Columbia Bank, said yesterday that its net income rose 11.9 percent to $1.35 million in the fourth quarter of 1999. The Columbia-based banking company's net income for the three months ending Dec. 31, which translates to 30 cents per diluted share, was up from net income of $1.2 million, or 26 cents per diluted share, in the fourth quarter of 1998. Adam C. Barkstrom, an equity analyst with Legg Mason Wood Walker Inc., said the company beat his projection of earnings per share by 1 cent for the quarter and the year.
BUSINESS
By Ross Hetrick | January 23, 1992
The state's second-largest banking company, First Maryland Bancorp, and one of Maryland's largest thrifts, Loyola Capital Corp., reported record profits for 1991 yesterday.Loyola had more good news for shareholders -- dividends. For the first time since becoming a publicly traded company more than five years ago, the thrift announced a 10-cent-a-share quarterly dividend.This is hopefully the beginning of a routine," said James V. McAveney, executive vice president of Loyola.First Maryland, the parent of First National Bank of Maryland, said it earned $23.9 million in the fourth quarter, compared with $1.5 million in the final quarter of 1990.
BUSINESS
October 11, 1991
MBNA Corp.This credit card company, a former subsidiary of MNC Financial Inc., reported higher earnings in the third quarter as the percentage of bad loans to total loans continued to fall.MBNA, which has its headquarters in Newark, Del., said its earnings rose 16 percent, to $40.3 million, or 81 cents a share, for the past three months, compared with earnings of $34.8 million, or 70 cents a share, during the year-ago period.The company said its total managed loans, including credit card loans that have been sold as packages of securities or are being held for sale, increased $1.3 billion to $8.2 billion.
BUSINESS
By David Conn and David Conn,Sun Staff Writer | April 19, 1995
Loyola Capital Corp., showing strong growth in consumer lending, yesterday reported a 17 percent increase in first-quarter earnings.The company, parent of Loyola Federal Savings Bank, said earnings rose to $4.1 million, or 47 cents a share, from $3.5 million, or 40 cents a share a year ago."To compete effectively, we have streamlined and strengthened our core businesses while diversifying into promising business activities," Chairman and Chief Executive Officer Joseph W. Mosmiller said."Even while mortgage originations slowed, we've continued to increase income in construction and consumer lending and mortgage servicing," Mr. Mosmiller said.
BUSINESS
By Laura Smitherman and Laura Smitherman,SUN STAFF | January 26, 2005
Baltimore's First Mariner Bank reported yesterday that its net income rose 30 percent in the fourth quarter, propelled by demand for mortgages and residential construction loans. First Mariner made $1.8 million in the fourth quarter of last year, or 29 cents per diluted share, compared with $1.4 million, or 23 cents per diluted share, during the comparable period of 2003. Its net income for the year rose 15 percent to $6.1 million from $5.3 million. Both quarterly and annual figures were record levels for the banking company.
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