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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)
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BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | November 1, 1995
Sterling Bank and Trust Co. yesterday named Mark H. Anders president and chief executive.Mr. Anders, 41, said he plans to build the $80-million-asset bank's small business loan portfolio as a complement to its private banking department.He said there is a "tremendous" market for local businesses that have sales of less than $5 million annually."The small businessman . . . has not been particularly well served," Mr. Anders said., "The small businessman wantsto be stroked. He also wants to be dealing with decision-makers."
BUSINESS
By Dian Hymer | August 14, 1994
What are the pros and cons of using a portfolio lender?A portfolio lender generates home loans that will become a part of that lender's own investment portfolio. This is in contrast to lenders who generate loans that are later sold to other investors.Lenders who sell their loans usually sell them on the secondary money market to Fannie Mae (Federal National Mortgage Association) or Freddie Mac (Federal Home Loan Mortgage Corp.), two organizations that purchase home loans at a discount to resell to investors.
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 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
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.
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 Eileen Ambrose and Eileen Ambrose,eileen.ambrose@baltsun.com | May 2, 2009
1st Mariner Bancorp said Friday that it lost $3.1 million for the first quarter, or 48 cents per share, as the Baltimore company continued to see deterioration in its real estate loan portfolio. For the corresponding quarter last year, 1st Mariner lost $3.278 million, or 52 cents per share. Nonperforming assets in the first quarter rose to $65.1 million, or 4.72 percent of total assets, up nearly $25 million from a year earlier. That increase is largely due to bad loans in residential construction and development.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 12, 1996
Citizens Bancorp's earnings jumped 20 percent in the third quarter as loans grew briskly and the bank sold more services to customers, the company said yesterday.Citizens earned $11.3 million for the third quarter in 1996, or 75 cents a share, compared with $9.4 million, or 63 cents a share for the same time a year ago.Jo M. Stewart, a senior vice president with the Laurel-based banking company, said sales of annuities, home equity lines and mortgages helped boost the bottom line."We've seen pretty strong growth in the commercial portfolios and we've had some heavy promotion of our home equity line as well," Stewart said.
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