Howard Bancorp, Inc. Completes Acquisition of Patapsco Bancorp, Inc.

Posted: Monday, August 31st, 2015

Howard Bank Becomes the Largest Bank Headquartered in the Greater Baltimore Marketplace

ELLICOTT CITY, Md.–(BUSINESS WIRE)– Howard Bancorp, Inc. (NASDAQ: HBMD, “Howard”), the parent company of Howard Bank, announced today that it has completed its acquisition of Patapsco Bancorp, Inc., the parent company of Patapsco Bank (“Patapsco”).

The combination of Howard and Patapsco creates the largest publicly traded bank headquartered in the Greater Baltimore Marketplace and the seventh largest bank in the state of Maryland, with total assets of nearly $1 billion and 16 branches. In addition, the combination significantly reinforces Howard’s present franchise in Baltimore County and provides Howard entry to Baltimore City allowing Howard the opportunity to expand its reach of diversified financial solutions in these very desirable markets and to leverage Patapsco’s legacy of over 100 years of banking service in these communities.

Pursuant to the merger agreement, the transaction had an aggregate fixed value of $10.064 million. Patapsco shareholders received $5.09 per share in cash (20% of total consideration) or 0.3547 shares of Howard common stock for each share of Patapsco common stock (80% of total consideration).

“Howard, a 2004 de novo, has experienced significant growth over the past 11 years, through consistent execution on organic growth – one customer at a time- supplemented by the execution of team lift outs in the residential mortgage arena, branch acquisitions, purchase of assets in an FDIC resolution transaction and now a traditional whole bank merger. The combination of Howard and Patapsco is, however, in and of itself, transformational and of exceptional strategic importance to us,” said Mary Ann Scully, Howard’s Chairman and CEO. “Howard has nearly tripled its asset size since its capital raise in 2012 and is now achieving the size and scale that is so important in the highly regulated and highly competitive banking industry today. It also demonstrates our disciplined ability to deploy capital quickly and in a way that supports growth both organically and by acquisition.”

“We are pleased to welcome Patapsco’s employees and customers to Howard Bank and welcome Thomas O’Neill and Gary Bozel to our board of directors. We are confident that their commitment and dedication will constitute a vital component of our success going forward,” concluded Scully.

Griffin Financial Group, LLC acted as financial advisor and placement agent to Howard, and Ober Kaler acted as its legal counsel. Patapsco was advised by Keefe, Bruyette & Woods, Inc. and its legal counsel was Kilpatrick Townsend & Stockton LLP.

View source version on





Baseball Statistics -vs- Household Financial Metrics

Posted: Wednesday, August 26th, 2015

Orioles Household Finances








PLAY BALL! It’s the heart of the baseball season and, whereas 20 years ago talk about the sport would have centered on the All-Star Game, the trade deadline, and how the pennant races were shaping up, now the chatter is filled with terms like “Wins Above Replacement” and “Defense-Independent ERA.”For better or worse, advanced metrics have taken hold in baseball.

What is interesting about the transformation of so many sports nuts into (more…)

Is Your Small Business Bleeding Money? Here’s How to Stop It

Posted: Friday, August 21st, 2015

We need to talk about the project budget…”

No phrase can strike fear into the heart of junior and senior management alike quite like an urgent email to discuss the budget.
If you’re a project manager, you know all too well how difficult it can be to keep projects on time and on budget. Between changing project (more…)

How Does Student Debt Impact Your Mortgage?

Posted: Wednesday, August 19th, 2015

Let’s say you’re a recent college grad. You’ve landed your first real job (or maybe you’ve been working it for a while already) and after years of dorms and apartments, you’re realizing you might as well start building equity in a place of your own.

You wouldn’t be alone. Though you’ll see articles all over the place insisting that millennials just aren’t interested (more…)

From Insurance to Savings. What to Keep in Mind When You’re About to Have a Baby

Posted: Saturday, August 15th, 2015

You’re pregnant? Congratulations! Here’s a checklist of major things you need to take care of.

1. Understand your maternity coverage and benefits

You’ll want to understand which maternity services your health plan covers and ensure your providers are in your (more…)

4 Ways to Expand Your Business

Posted: Wednesday, August 12th, 2015

No matter how well your business is doing at the moment, it is important to always be looking for ways to diversify or expand your operation as a form of “future proofing” your business. Don’t wait until there is a downturn in your core target industry to look at ways to capture new business, increase your market share or otherwise expand operations. Below you’ll find four tips you can implement now to make sure you’re equipped for growth and whatever the future brings.

1. Look at New Marketing Mediums

SMS messaging can be a far more effective way to reach your audience than (more…)

5 Things to Look for in a Neighborhood

Posted: Monday, August 10th, 2015

If you are like most people, then you know exactly what you want in a house, from its roof right down to its (hopefully finished) basement. But can you say the same about your potential neighborhood?

Probably not, but you definitely should. No matter how perfect your (more…)

It’s clearly a budget…. It’s got a lot of numbers in it.

Posted: Friday, August 7th, 2015


There are plenty of different ways to budget and the method that your family chooses shouldn’t be set in stone.


Getting on a budget is one of the single most important things you can do to make sure your family is reaching   financial goals. If you have no idea how to get started here are three types of family budgets to consider.

The Zero Based Budget

The zero based budget is a concept where you “spend” your money at the beginning of (more…)

How Many Hats Do You Wear?

Posted: Wednesday, August 5th, 2015



If you’re like most small business owners, your business card might bear the title CEO or principal, but you know that on any given day it could just as easily read customer service, sales associate, marketing manager, technology director, accountant…

Small business owners don’t have the luxury of passing duties off to department managers. The success of your business depends on your ability to wear all the multiple hats needed to keep the wheels of your business turning. At times, the dizzying pace needed can turn even the most capable person into an overwhelmed entrepreneur wearing too many hats.

Whether you see the diversity of responsibility as a blessing or a curse, you’ve got to (more…)

Common Refinancing FAQs

Posted: Monday, August 3rd, 2015

It seems like every bankRefinance and mortgage lender is pushing refinancing. As a result, you may feel now’s the right time to refinance your mortgage loan. However, this isn’t a decision to take lightly.

Refinancing is an excellent way to lower your  (more…)

{"result":"error", "message":"You can't access this resource as it requires an 'view' access for the website id = 1."}