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

August 31st, 2015 | Posted by admin in Howard Bank - (Comments Off on Howard Bancorp, Inc. Completes Acquisition of Patapsco Bancorp, Inc.)

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 businesswire.com: http://www.businesswire.com/news/home/20150831005228/en/

 

 

 

 

Howard Bancorp and Patapsco Bancorp to Merge; Howard Receives Commitments for $25 Million in New Capital to Support Continued Growth…

March 3rd, 2015 | Posted by admin in Howard Bank - (Comments Off on Howard Bancorp and Patapsco Bancorp to Merge; Howard Receives Commitments for $25 Million in New Capital to Support Continued Growth…)

Ellicott City and Dundalk, Maryland, March 3, 2015 — Howard Bancorp, Inc. (NASDAQ: HBMD, “Howard”), the parent company of Howard Bank, and Patapsco Bancorp, Inc. (OTC: PATD, “Patapsco”), the parent company of Patapsco Bank, jointly announced today that they have entered into an agreement to merge. (more…)

Insurer Anthem Suffers Massive Data Breach…

February 12th, 2015 | Posted by admin in Howard Bank - (Comments Off on Insurer Anthem Suffers Massive Data Breach…)

One of the county’s largest Health Insurance companies suffered what may be the largest data breach ever, potentially exposing up to 80 million customer’s personal information.  Anthem says that names, birthdays, social security numbers, street addresses, email addresses and employment information, including income data was exposed.  Based on this information, no bank information or actual medical information has been breached.  For more information on this breach visit; www.anthemfacts.com.

While this breach does not affect Howard Bank, we take real interest and responsibility in protecting our customers against fraud and Identity Theft.  While we have many checks in place to detect deceitful activity, we both can only benefit from consumers who are educated on the risks.  To find out how to protect yourself against Identity Theft, please visit us at; http://www.howardbank.com/identitytheft.html (more…)

Howard Bank’s Top Blogs of the Year…

December 18th, 2014 | Posted by admin in Howard Bank - (Comments Off on Howard Bank’s Top Blogs of the Year…)

Top Blogs of the Year_2014

It’s hard to believe that 2014 is coming to a close. To call it a whirlwind or an adventure would be an understatement but as we close out the calendar year we wanted to pull together a list of our most popular blogs from 2014. Thanks to all our readers and followers for sharing/tweeting/commenting on our posts. Enjoy! (more…)

This Thanksgiving: A Thank You and a Promise

November 26th, 2014 | Posted by admin in 10 Year Anniversary | Events | Howard Bank - (Comments Off on This Thanksgiving: A Thank You and a Promise)

MaryAnn Scully

On behalf of everyone at Howard Bank, I’d like to wish you and your family a very happy Thanksgiving.

Although it’s customary to focus on our blessings on this specific day, I hope all our employees and customers know just how thankful and appreciative I am for them all year round. As a quickly growing, community-centered bank with an ever-increasing presence in the central Maryland region, it’s obvious that our success is not due to any one person or initiative–the success is shared and we’re all part of it. (more…)

Howard Bank: 10 Years Strong…

August 8th, 2014 | Posted by Mary Ann Scully in 10 Year Anniversary | Howard Bank - (Comments Off on Howard Bank: 10 Years Strong…)

Howard Bank

MaryAnn ScullyIt was about ten years ago to the day that Howard Bank first opened its doors at the Snowden River and Hickory Ridge branches here in Columbia.

I clearly remember that day (August 9th to be exact). After a full year of preparation- raising capital, talking to regulators, signing office leases and hiring colleagues , to see customers enter our branches, drive up to our ATM’s, and to discuss with clients when we could book their new loans was the type of nail biting yet exhilarating moment that all business founders understand. I look back on it with awe and pride having seen what Howard Bank has become today.
(more…)

Howard Bancorp, Inc. Announces Results for Second Quarter of 2014 Earnings…

July 18th, 2014 | Posted by admin in Howard Bank - (Comments Off on Howard Bancorp, Inc. Announces Results for Second Quarter of 2014 Earnings…)

Ellicott City, MD, July 17, 2014 –Howard Bancorp, Inc. (Nasdaq: HBMD), the parent company of Howard Bank (the “Bank”), today reported its financial results for the three month and six month periods ended June 30, 2014.

Highlights for the three and six month periods ended June 30, 2014 were as follows: (more…)

Infographic: There’s Something About Harford

July 3rd, 2014 | Posted by admin in Howard Bank - (Comments Off on Infographic: There’s Something About Harford)

As we celebrate the opening of our new branch in Bel Air (and look forward to a third Harford County branch later in the year) we thought it fitting to pay tribute to Harford County with an infographic detailing some interesting facts, stats, and historical points about this great county. Please enjoy and share the infographic below entitled, “There’s Something About Harford.” If you’d like to embed it on your website or blog simply copy the code at the bottom of this post.  (more…)

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Money Market vs. Certificate of Deposit: Which Is Better – Money Markets or CDs – For Your Portfolio?…

June 12th, 2014 | Posted by admin in Howard Bank | Savings - (Comments Off on Money Market vs. Certificate of Deposit: Which Is Better – Money Markets or CDs – For Your Portfolio?…)

By Joshua Kennon


Certificates of deposit and money market funds are popular choices for investors in the United States because each offers a unique set of advantages, terms, yields, pricing, conditions, and restrictions.  Depending on circumstances, resources, and your own investment portfolio preferences (more…)

How To: Choose and Open a Personal Savings Account…

May 8th, 2014 | Posted by admin in Howard Bank | Savings - (Comments Off on How To: Choose and Open a Personal Savings Account…)

If you are working toward saving money, one of the savings vehicles you may want to consider is a savings account. Savings accounts usually pay interest (although a relatively small amount) on the account, and your savings is generally protected by FDIC insurance. (more…)

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