NEWS
By Michael James and William Patalon III and Michael James and William Patalon III,SUN STAFF | March 27, 2002
A Baltimore jury awarded one of the largest legal judgments in Maryland history - $276 million - to a Catonsville businessman yesterday who said First Union National Bank defrauded his software company and started a $2.4 billion business venture with his ideas. The award in Baltimore Circuit Court followed a six-week trial in which lawyers successfully argued that First Union, now Wachovia Corp. and the nation's fourth-largest banking company, double-crossed the software company owner, Scott Steele.
NEWS
By Frederick N. Rasmussen and Frederick N. Rasmussen,SUN STAFF | July 18, 2001
Virginia W. Smith, retired chief executive officer and president of Union National Bank in Westminster, died Sunday of cancer at the Gilchrist Center for Hospice Care in Towson. She was 51 and lived in Stevenson. Miss Smith, who was known as Jenny, headed the Carroll County bank for five years until retiring last year because of failing health. The bank, which has been a Westminster institution since its founding in 1816, is 21 years older than Carroll County. When appointed president of Union National in 1995, she was one of four women in the state to lead a bank.
BUSINESS
By William Patalon III and Bill Atkinson and William Patalon III and Bill Atkinson,SUN STAFF | April 17, 2001
Struggling First Union Corp. will buy out Wachovia Corp. in a $13 billion deal that is not expected to have a major negative impact on the Baltimore region, the companies announced yesterday. In what is being billed as a merger of equals, Charlotte, N.C.-based First Union is exchanging two of its shares for each share of Wachovia stock. The new company will take the Wachovia name, and will be the fourth-largest bank in the nation once the deal is completed in the third quarter of this year.
NEWS
By Edward Gunts and Edward Gunts,SUN STAFF | September 14, 2000
FOR YEARS, it was known as the Temple of Thrift. Now, it's the temple without a tenant. The vacant Bank of Baltimore building at 1 E. Baltimore St., a two-story structure whose design was inspired by a temple in Athens, Greece, has been put up for lease through Colliers Pinkard of Baltimore. An adjacent office building at 7 E. Baltimore St. has been listed for sale for $2 million. Last occupied by First Union National Bank, the buildings are the latest of several prime properties in the Baltimore area to become vacant as a result of consolidations in the local banking industry and changes in the real estate market.
NEWS
August 24, 2000
State police are searching for a man who claimed to have a bomb when he robbed Union National Bank in Mount Airy on Tuesday afternoon. A man entered the bank in the 400 block of E. Ridgeville Blvd. about 1:45 p.m. and waited for other customers to leave before giving a teller a note demanding the money, state police said. He escaped on foot with an undisclosed amount of money, police said. The man was described as a thin, white, about 25 to 30 years old and about 5 feet 4 inches tall.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | July 15, 2000
Mercantile Bankshares Corp. said yesterday that it completed its acquisition of Union National Bancorp of Westminster in a transaction valued at about $70 million. The Baltimore-based Mercantile, which is the largest independently owned banking company in the state with $8 billion in assets, merged Union National Bank into Westminster Bank and Trust Co., a Mercantile affiliate. The deal gives Mercantile more muscle in the fast-growing Carroll County market, adding 10 branches and $310 million in assets.