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Mercantile Bankshares

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BUSINESS
June 13, 1991
Mercantile Bankshares Corp., the parent of Mercantile-Safe Deposit and Trust Co., has declared a quarterly dividend of 21 1/2 cents a share of common stock, payable on June 29 to stockholders of record June 21. The dividend is unchanged from the previous quarterly dividend.The bank holding company also announced the election of William C. Richardson as a director of both Mercantile Bankshares and Mercantile-Safe Deposit. Richardson has been president of Johns Hopkins University since July 1. He previously had been the executive vice president and provost at Pennsylvania State University.
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BUSINESS
Jay Hancock | December 23, 2011
The winds of economic destruction blow as hard in Baltimore as anywhere else. But business brainpower tends to stay anchored to the land of pleasant living. Alex. Brown is long gone, but the firm's tradition and former employees carry on at Brown Advisory, Signal Hill Capital and other firms. Legg Mason's former securities-research operation runs under the Stifel Nicolaus label. Felix Dawson isn't employed by Constellation Energy any more, but he's still here, working to save the Baltimore Grand Prix.
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BUSINESS
By David Conn and David Conn,Staff Writer | October 14, 1993
Mercantile Bankshares Corp., in the face of a sluggish regional economy, yesterday showed a modest improvement in earnings for the latest quarter.The 8 percent increase in third-quarter earnings came as a sharp drop in the amount the company set aside to reserve for problem loans was offset by an equally large fall in gains from investment securities since last year."
NEWS
By Jay Hancock, The Baltimore Sun | April 18, 2011
Unlike some Democratic governors and mayors, at least William Donald Schaefer had a dialogue with Maryland business leaders. If you can call a blistering, hold-the-phone-from-the-ear conversation a dialogue. "When the governor calls me, I know what's on his mind as soon as he says my name," Furlong Baldwin, who was chief of Mercantile Bankshares, told The Baltimore Sun in 1994. "If it's 'H. Furlong Baldwin,' I know he's about to chew me out. If it's 'Hello, Baldy,' I know he needs something from me. " Schaefer did his share of both cajoling and browbeating business folks, as well as everybody else.
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | July 15, 1999
Continued expense controls and growth in its trust business drove Mercantile Bankshares Corp.'s net income up 6.4 percent to $38.9 million in the second quarter, the Baltimore-based banking company said yesterday.Net income per share for the three months that ended June 30 was 56 cents, 9.8 percent more than in the same quarter last year and 2 cents more than 10 analysts predicted when surveyed by Zacks Investment Research. Diluted net income was 55 cents a share."The earnings were decent; they were in line with our expectations," said Collyn Bement, an analyst at Ferris Baker Watts in Baltimore.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | July 16, 1997
Mercantile Bankshares Corp.'s net income jumped by more than 11 percent in the second quarter, fueled by strong loan growth and gains in its trust business, the company said yesterday.The Baltimore-based banking company earned $32.5 million, or 46 cents a share in the quarter ended June 30, compared with $29.3 million, or 40 cents a share, for the same period a year earlier."It was a good, solid banking quarter," said David E. Borowy, head of investor relations with Mercantile, the state's largest independently owned banking company with $6.8 billion in assets.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | December 11, 1996
Nearly two months after it agreed to buy a small bank on the Eastern Shore, Mercantile Bankshares Corp. said yesterday that it would acquire Farmers Bank of Mardela Springs in a transaction valued at roughly $3.9 million.Directors of both banks approved a definitive agreement to merge Farmers Bank, which has $28 million in assets, with Peninsula Bank, a Princess Anne-based Mercantile affiliate that has 16 branches.The acquisition bolsters Mercantile's presence on the Eastern Shore. In October, the Baltimore-based banking company agreed to acquire Home Bank, which has more than $46 million in assets and five offices, three of them in Ocean City.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | October 22, 2003
Mercantile Bankshares Corp. reported a 3 percent decrease in third-quarter net income as low interest rates, the fallout from a management shake-up in its wealth management division and merger costs related to its acquisition of F&M Bancorp cut into profits. Net income in the quarter that ended Sept. 30 was $47.2 million, compared with $48.6 million in the third quarter last year. Earnings per diluted share were 63 cents, down 9 percent from the 69 cents reported for the same period last year.
BUSINESS
By Staff Report | April 12, 1994
Mercantile Bankshares Corp., the parent of the Mercantile-Safe Deposit & Trust Co., reported yesterday that profits rose 4 percent during the first quarter, as the Baltimore-based bank was able to add less money to reserves for bad loans.Mercantile's net income rose to $21.2 million, or 46 cents a common share, during the quarter that ended March 31, up from $20.5 million, or 45 cents a share, during the same period last year. Assets grew 4.3 percent, to $5.55 billion.During the first quarter, the bank added $1.82 million to reserves for loan losses, for a total reserve of $91.6 million.
BUSINESS
By David Conn and David Conn,Staff Writer | December 9, 1992
Mercantile Bankshares Corp., coming off a strong first nine months this year, will increase its quarterly dividend by 1 cent, to 22.5 cents a share, the company's board announced yesterday.The quarterly payment on its common stock is payable on Dec. 31 to stockholders of record on Dec. 18. The company last raised its dividend, from 20 cents a share, in the fourth quarter of 1990.The Baltimore-based company, parent of Mercantile-Safe Deposit & Trust Co., also announced it added a board member to both companies: Dr. James A. Block, president and chief executive of both Johns Hopkins Hospital and the Johns Hopkins Health System since July 1.Mercantile, with almost 30.5 million common shares outstanding, will boost its annual dividend payment to $6.85 million, a $305,000 increase from the current rate.
BUSINESS
By Hanah Cho, The Baltimore Sun | July 6, 2010
Although many locally owned banks in Maryland are continuing to reel from the fallout of the mortgage crisis, BlueRidge Bank sees an opening to expand in the Baltimore region. The Frederick-based bank — the only banking institution to open in the state in more than two years — recently opened an office in Towson to serve business customers. BlueRidge executives plan to open a retail branch in the Baltimore area by the end of the year, while eyeing other parts of Maryland, such as Montgomery County, for growth.
BUSINESS
By Jay Hancock | January 1, 2010
T he economic story of the decade for Maryland? Nope, it wasn't electricity deregulation, although that's a competitor. In a period with terrible news for jobs, investments, safety and housing, there was one development that painted almost every piece of the Maryland economy with a brighter hue. The federal spending spigot got twisted to fire-hose volume after Sept. 11, 2001. The era of big government was back shortly after President Bill Clinton said it was over, and that meant a windfall for states next to big government's headquarters.
NEWS
September 16, 2007
WORLD Sunnis loyal to U.S. threatened An al-Qaida front group threatened to assassinate Sunni leaders who support American troops in Iraq as a Shiite bloc loyal to radical cleric Muqtada al-Sadr defected yesterday from the Iraqi government's parliament base. pg 27a Musharraf's re-election assured Pakistan's ruling party assured President Gen. Pervez Musharraf yesterday that he would be elected to a new five-year term in October before exiled opposition leader Benazir Bhutto returns to the country.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | May 1, 2004
Mercantile Bankshares Corp., Maryland's largest independent bank, said yesterday that it will combine 11 of its affiliate banks into four new organizations as part of a move to cut costs and make it easier to comply with increasingly complex federal regulations. The reorganization will strip most of the 11 banks of their former identities and likely result in a small number of layoffs in what the bank called "nominal staff displacements." But other than the names, little will change for customers, bank officials said.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | October 22, 2003
Mercantile Bankshares Corp. reported a 3 percent decrease in third-quarter net income as low interest rates, the fallout from a management shake-up in its wealth management division and merger costs related to its acquisition of F&M Bancorp cut into profits. Net income in the quarter that ended Sept. 30 was $47.2 million, compared with $48.6 million in the third quarter last year. Earnings per diluted share were 63 cents, down 9 percent from the 69 cents reported for the same period last year.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | March 6, 2002
Mercantile Bankshares Corp. named David L. Meyer yesterday as chief operating officer of its wealth-management business, the third time in a month the bank has added outside executive talent to the asset management side of its business. The appointment of Meyer, 44, was effective immediately. "We are particularly pleased that an executive with David's breadth and depth of experience is joining our management team," said Mercantile Chief Executive Officer Edward J. Kelly III. "He brings the seasoned judgment that will support our efforts to create a leading investment and wealth-management business."
BUSINESS
By Peter H. Frank | April 25, 1991
Compared with other large banking companies, Mercantile Bankshares Corp. could have thrown a party yesterday at its annual shareholders meeting.But not this year.Given the sorry state of the nation's banking industry, there was little to celebrate -- even for Mercantile, whose performance last year measured at or near the top of most industry lists."1990 was an extraordinary environment, to say the least, in the banking industry," H. Furlong Baldwin, chairman and chief executive of Mercantile, told a small gathering of shareholders yesterday.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | February 20, 2002
Mercantile Bankshares Corp., continuing with plans to add muscle to its asset-management businesses, announced yesterday that a veteran of the mutual fund industry will head two important subsidiaries. The bank named John J. Pileggi, 43, as president and chief executive officer of its Mercantile Capital Advisors Inc. and Hopkins Plaza Securities Inc., units. The appointment is effective immediately. "This is another piece of evidence that Mercantile is positioning itself to be a major player in the trust and asset management businesses," said Gerard S. Cassidy, a banking analyst with RBC Capital Markets, Portland, Maine.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | February 20, 2002
Mercantile Bankshares Corp., continuing with plans to add muscle to its asset-management businesses, announced yesterday that a veteran of the mutual fund industry will head two important subsidiaries. The bank named John J. Pileggi, 43, as president and chief executive officer of its Mercantile Capital Advisors Inc. and Hopkins Plaza Securities Inc., units. The appointment is effective immediately. "This is another piece of evidence that Mercantile is positioning itself to be a major player in the trust and asset management businesses," said Gerard S. Cassidy, a banking analyst with RBC Capital Markets, Portland, Maine.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | February 6, 2002
Mercantile Bankshares Corp. named an investing-industry veteran yesterday to build up its wealthy client business, a move analysts said can only bolster what is already a strong banking company. Wallace Mathai-Davis was appointed to the newly created position as chairman of Mercantile's investment and wealth management operations. Mathai-Davis, 57, also was elected to the boards of directors of both Mercantile Bankshares and Mercantile-Safe Deposit and Trust Co. His appointment is effective immediately.
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