SECU, of Linthicum, has surpassed more than $5 billion in assets, a milestone that is unsurpassed by any other credit union in the state. SECU ranks among the top 60 credit unions nationwide and is the largest credit union in Maryland based on total assets. In reaching this milestone, SECU and the SECU MD Foundation will commit […]
Banking & Finance
Posted inBanking & Finance
Fulton Financial, Prudential announce $142M merger
Fulton Financial Corp. – the parent of Fulton Bank, which has 27 branches in Maryland – and Prudential Bancorp have entered a merger agreement under which Prudential will merge with and its operations and branches will morph into Fulton Financial. The stock and cash deal is expected to close in the third quarter of 2022, after […]
Posted inBanking & Finance
F.N.B. completes merger with Howard Bancorp
F.N.B. Corporation, of Pittsburgh, has successfully completed its merger with Baltimore-based Howard Bancorp. The customer and branch branding conversion is scheduled to be finalized on Feb. 7. As a result of the merger with Howard, FNB has approximately $42 billion in total assets, $27 billion in total loans and $33 billion in total deposits. FNB also has assumed the number six retail deposit share for banks […]
Posted inAnne Arundel County
Shore Bancshares, Severn Bancorp merger approved
Shore Bancshares, the holding company of Shore United Bank and Severn Bancorp, the holding company of Severn Savings Bank, announced that, at special meetings of their respective shareholders held on Oct. 22, Shore’s shareholders approved the merger of Severn with and into Shore. Shore will be the surviving corporation, with the issuance of shares of Shore’s common stock to the shareholders of Severn pursuant […]
Posted inBanking & Finance
M&T Bank among nation’s top SBA lenders
M&T Bank again ranked in the top 10 in the nation for U.S. Small Business Administration lending, providing 1,115 7(a) loans for a total of $201 million to help local small businesses grow during the SBA’s 2021 fiscal year – a 28 percent jump in dollars from 2020 levels. For 13 consecutive years, M&T has remained […]
Posted inAnne Arundel County
BayVanguard buys North Arundel Savings Bank
BayVanguard buys Arundel bank BV Financial, the parent company of BayVanguard Bank, and North Arundel Savings Bank, have entered into a definitive merger agreement whereby North Arundel Savings Bank will merge with and into BayVanguard Bank with BayVanguard Bank as the surviving entity. Under the terms of the merger agreement, depositors of North Arundel Savings Bank will become depositors of BayVanguard. […]
Posted inBusiness News
Howard Bancorp, F.N.B. Corp. announce merger
Howard Bancorp and FNB Corp. have announced the signing of a definitive merger agreement for FNB to acquire Howard, including its wholly-owned banking subsidiary, Howard Bank, in an all-stock transaction valued at $21.96 per share, or a fully diluted market value of approximately $418 million, based upon the closing stock price of FNB as of […]
Posted inBanking & Finance
Maryland Bankers Association elects William Pasenelli chair
William Pasenelli, vice chairman and CEO of Community Bank of the Chesapeake, was elected 2021-2022 Chairman of the Maryland Bankers Association (MBA). Pasenelli is the CEO of Community Bank of the Chesapeake. He graduated magna cum laude from Duke University with a Bachelor of Arts degree in management science. Pasenelli is also a Certified Public Accountant and graduated from the […]
Posted inBusiness News
Small businesses compete in Howard Bank’s ‘Keep It Local’
Howard Bank has released the list of Top 15 small businesses vying to win $10,000 in its Keep It Local contest. The contest seeks to find a local small business that goes above and beyond in their community. The first round of voting opens June 1 and ends June 8. The Top 5 businesses will […]
Posted inBanking & Finance
Helen Delich Bentley Port of Baltimore records strong recovery
Led by increases in car and light truck volumes, the Helen Delich Bentley Port of Baltimore’s state-owned, public marine terminals continued to show strong recovery in March compared to figures from 2020 in the early months of the COVID-19 pandemic. Autos, roll on/roll off farm and construction equipment, and containers each had significant gains last […]