Arundel Business News » financial services

Sandy Spring Bank to Take Over CommerceFirst

chris — Thu, 29 Dec 2011 23:46:24 +0000

OLNEY and ANNAPOLIS – CommerceFirst Bancorp has accepted an acquisition offer from Sandy Spring Bancorp for $25.4 million in cash and stock. This will add $205 million in total assets to Sandy Spring and expand its presence in Anne Arundel, Howard and Prince George’s counties in central Maryland.

See full release.

New Branch for Tower Federal

chris — Thu, 29 Dec 2011 23:44:25 +0000

LAUREL – Tower Federal Credit Union has opened a new location at Arundel Mills with a strong focus on environmental features. Use of geothermal heat pumps for heating and cooling, and low VOC paints help promote a healthy work environment at the 123,000-member credit union.

See full release.

Glen Burnie Bancorp Declares 4Q Dividend

chris — Mon, 19 Dec 2011 19:25:01 +0000

GLEN BURNIE – Glen Burnie Bancorp/The Bank of Glen Burnie declared a regular dividend of ten cents ($0.10) per share of common stock (the company’s 78th consecutive dividend).

See full release.

NewDay Financial Names Division President

chris — Tue, 13 Dec 2011 21:46:07 +0000

FULTON – Julie McMillin is the new president of NewDay Reverse, a division of VA and reverse mortgage lender NewDay Financial. Lee manages the direction of the group and the selection and training of originators.

See full release.

Severn Savings Bank Leads Revitalization Efforts

chris — Mon, 05 Dec 2011 17:40:27 +0000

: Severn Savings Bank recently honored a handful of organizations for joining it in investing in and revitalizing local communities. L to R at the Wild Orchid Café event: Sandra Erbe, Habitat for Humanity of the Chesapeake, Randi Hogan, Habitat for Humanity of the Chesapeake, Molly Knipe, Executive Director, YWCA of Annapolis and Anne Arundel County and Barbara Palmer, YWCA of Annapolis and Anne Arundel County.

BankAnnapolis Honored for Excellence in Financial Services

chris — Mon, 05 Dec 2011 17:32:07 +0000

ANNAPOLIS – BankAnnapolis was recently honored for excellence in financial services by the Annapolis and Anne Arundel County Chamber of Commerce, and the Maryland Bankers Association. The Chamber awards recognize the community’s top businesses in categories including individual business leader, small business, nonprofit, financial services, and sales and marketing.

See full release.

X9 Aims to Improve Corporate Cash Management

chris — Wed, 16 Nov 2011 14:02:26 +0000

ANNAPOLIS – Accredited Standards Committee X9 has issued a new standard for banks to enable companies to manage their business accounts more effectively. Called the Balance and Transaction Reporting Standard, it will be published in the first quarter of next year.

See full release.

Show Me the Money: More Banks Release Q3 Earnings

chris — Thu, 03 Nov 2011 01:25:17 +0000

ANNAPOLIS – Severn Bancorp/Severn Savings Bank reported Q3 net income of $551,000, up from the $485,000 figure from a year ago.

ANNAPOLIS – Annapolis Bancorp/BankAnnapolis listed net income of $668,000 for Q3 2011, up $369,000 or 123% compared to the same quarter last year.

OLNEY – Sandy Spring Bancorp/Sandy Spring Bank posted net income $11.3 million, up from $8.5 million in the year-ago period.

Howard Bank Gets Revenue Boost

chris — Thu, 03 Nov 2011 01:15:57 +0000

ELLICOTT CITY – Howard Bancorp/Howard Bank said the first nine months of the year brought in net income of $1.031 million, versus net income of $661,000 for the same period last year. This represents a 56% increase.

See full release.

Howard Bank Gets Fed Funds

chris — Fri, 30 Sep 2011 13:01:16 +0000

ELLICOTT CITY – Howard Bancorp/Howard Bank has received an investment of $12.5 million to encourage small business lending. The money came from the U.S. Treasury’s Small Business Lending Fund.

See full release.