Farmers and Merchants in Maryland to buy neighboring bank

American Banker

Community banking M&A Maryland Growth strategiesThe company will pay $25 million in cash for Carroll Bancorp in a deal between Baltimore-area banks.

Maryland Launches eProcurement Portal With Nitor, Ivalua

PYMNTS

The state of Maryland has launched a new eProcurement system for the Maryland Department of General Services following a collaboration with source-to-pay and eProcurement FinTechs.

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After poaching M&T exec, Maryland bank plots next moves

American Banker

Strategic buyers CRE Recruiting MarylandHoward Bancorp is planning a big push in CRE lending, first in its hometown of Baltimore and eventually in Washington.

New Guinness Brewery On Tap In Maryland

PYMNTS

To bring a beer tour and tasting experience to its customers, Guinness has opened a $90 million brewery in Maryland. The location is the company’s first new brewery in 60 years, CNBC reported. The brewery, which is located just outside of Baltimore, may bring in 300,000 visitors a year to its facilities, which are said to include a brew house, restaurant, tap room and gift shop. The property itself has been owned by Guinness parent Diageo since 2001).

Walmart Officially Sorry It Can’t Tell Massachusetts From Maryland

PYMNTS

In Walmart’s defense, it was specifically selling the promotion of the University of Maryland’s mascot , not the school itself … where one could presumably learn the basics of U.S. We understand the pride Marylanders feel for the Terps and apologize for the mistake.” Retail Apparel Retail Maryland Massachusetts Retail Fail retail what's hot Russell Athletic social media twitter University of Maryland walmart What's Hot

Maryland Community Bank Wades Into Cannabis Market

PYMNTS

As more financial institutions (FIs) warm up to the idea, one bank in Maryland is taking significant steps to address cannabis companies’ FinServ challenges. Jake Van Wingerden, head of a Maryland-based marijuana trade association and of licensed grower SunMed Growers, told The Washington Post that Severn Savings Bank was eager to work with industry players. Providing financial services to legal marijuana businesses in the U.S.

Sandy Spring in Maryland Buys Insurance Agency

American Banker

said that its insurance unit bought The Advantage Group, which offers personal, business and life insurance to clients in Maryland, northern Virginia and Washington. Sandy Spring Bancorp in Olney, Md., breaking_news community-banking md dealmaking-strategy

Colorado Enacts Student Loan Servicer Licensing Law and Maryland Expands Regulation of Servicers

CFPB Monitor

Colorado and Maryland have each enacted legislation regulating student loan servicers. On May 13, Colorado Governor Jared Polis (D) signed into law SB 19-002 , and that same day, Maryland Governor Larry Hogan (R) signed HB 594. State CFS Monitor Student Loans colorado Maryland

Mama’s Biscuits Opening New Manufacturing Facility In Maryland

PYMNTS

Maryland and Virginia, as well as online. Mama’s Biscuits , America’s first gourmet biscuit company, founded by Lesley Riley, is opening a new manufacturing facility in Frederick, Md., according to a press release. Mama Biscuit’s Gourmet Biscuits (MBGB) produces flavored gourmet biscuits that “bridge the gap between” sweet cupcakes and savory tasting treats. They are sold in major retailers such as Wegmans and Whole Foods Market in Washington, D.C.,

ACNB to Enter Maryland by Buying New Windsor Bancorp

American Banker

is planning to enter Maryland with its agreement to buy New Windsor Bancorp in Taneytown, Md. ACNB Corp. in Gettysburg, Pa., breaking_news community-banking md pa dealmaking-strategy

MB Bancorp in Maryland Hires New Chief

American Banker

MB Bancorp in Forest Hill, Md., has lined up a new chief executive. breaking_news womenin-banking people corporate-governance wib-scan md community-banking

The Maryland Financial Consumer Protection Act of 2018 significantly increases state regulation

CFPB Monitor

Noting, among other things, “retrenchment” on the federal level, the Maryland Financial Consumer Protection Act of 2018 ( HB 1634 ) was signed into law on May 15, 2018. making recommendations to the General Assembly regarding methods to resolve borrower issues/concerns and for any necessary changes to state law to ensure a fair, transparent, and equitable industry, including whether licensing or registration of student loan servicers should be required in Maryland.

Eagle strikes optimistic tone despite lower 4Q performance

American Banker

While the Maryland company claimed it has margins and credit issues under control, it couldn't provide any clarity on rising legal expenses. Community banking Earnings Net interest margin Maryland

Reputation rehab job one for Eagle Bancorp's new chief

American Banker

Susan Riel succeeded Ronald Paul as CEO of the Maryland bank shortly before questions surfaced about credit quality and lending practices. Community banks Commercial real estate lending Credit quality Maryland

Severn in Maryland Redeems Remaining Tarp Shares

American Banker

Severn Bancorp in Annapolis, Md., has redeemed the last shares tied to the Troubled Asset Relief Program. breaking_news md strategic-alternatives corporate-governance capital community-banking

Shore Bancshares in Maryland Merged Bank Units

American Banker

The $1.1 billion-asset company said in a press release Friday that it had combined its $492 million-asset CNB in Centreville, Md., and the $615 million-asset Talbot Bank in Easton, Md., to create Shore United Bank. m-a consolidation md de breaking_news community-banking

Howard Bancorp in Md. to exit mortgage lending

American Banker

Community banking Mortgages M&A MarylandThe company, which sold the business to a group of former employees, will shut down its operation this quarter.

Maryland federal district court rules choice of law provision applies to effect of partial payment on statute of limitations revival in FDCPA lawsuit

CFPB Monitor

A Maryland federal district court, in Jennings v. The initial question considered by the court was whether the debt revival issue was governed by Delaware or Maryland law.

Revere Bank to Buy Monument Bank in Maryland

American Banker

The $1.2 billion-asset Revere said in a press release Tuesday that it will pay $65.1 million in stock for the $514 million-asset Monument. breaking_news community-banking m-a dealmaking-strategy

Maryland Commission should reject adoption of NCLC’s Model Arbitration Act

CFPB Monitor

According to a report issued earlier this month , the Maryland Financial Consumer Protection Commission is considering the adoption of the “Model State Consumer and Employee Justice Enforcement Act” developed several years ago by the National Consumer Law Center. Fortunately, based on strong opposition by the Maryland Bankers Association and other industry groups, the Commission stopped short of recommending adoption of the model act.

Student loan servicers’ obligations under Maryland’s “Ombudsman Act” now in effect

CFPB Monitor

On September 28, 2018, the Maryland Commissioner of Financial Regulation issued a notice advising companies servicing student loans of Maryland borrowers to provide their contact information to the state’s new Student Loan Ombudsman by November 15, 2015. Maryland’s “Financial Consumer Protection Act of 2018” went into effect on October 1, 2015.

Severn in Maryland to Raise $11M from Private Placement

American Banker

Severn Bancorp in Annapolis, Md., has agreements in place to raise $11 million through a private placement of common stock. breaking_news dealmaking-strategy md community-banking

If you’re responsible for handling member bankruptcies you should read this blog

New York's State of Mind

Compliance Legal Watch bankruptcy Chapter 7 Citizens Bank of Maryland v. How’s that for a catchy title? Seriously though, what are your responsibilities as the holder of an account when your member declares Chapter 7 bankruptcy? That was the important issue recently decided by New York’s Southern District which upheld a nationwide Wells Fargo policy placing an administrative freeze on the accounts of Chapter 7 debtors […].

Provident State Bank Invests in Technology to Enhance Customer Communication

Banking Exchange

Maryland bank enables next-level communication at nine branches Technology Feature3 Feature Customers Branch Technology/ATMs Tech Management Community Banking.

Will Bigger Lead to a More Efficient Bank?

Jeff For Banks

A friendly competitor of ours, Anita Newcomb , spoke about strategic planning and economies of scale in banking at the recent Maryland Bankers Association annual convention. anita newcomb bank efficiency ratio efficiency ratio Jeff Marsico Kafafian Group Maryland Bankers Association

Exec Team Shrinks Again at Glen Burnie Bancorp

American Banker

Glen Burnie Bancorp in Maryland has announced an executive departure for the second time in three months. breaking_news people corporate-governance md community-banking

Neiman Marcus Agrees To Pay $1.5M To Settle Payment Card Breach

PYMNTS

The Maryland Attorney General Brian Frosh announced Tuesday (Jan. In a press release , the Maryland AG said Neiman Marcus agreed to pay $1.5 Of the cards that were breached, at least 9,200 were used for fraudulent purposes, the Maryland AG said in the press release.

Advocacy at the Grassroots: Building Issues

Independent Banker

In Maryland, foreclosures and abandoned properties draw major attention. In Maryland, about 30 percent of the state’s General Assembly members turned over as a result of the 2014 statewide elections. make Maryland a fully judicial foreclosure state.

Mall Outlook Is Cloudy With An Experiential Horizon

PYMNTS

Even in these toughest of times, a University of Maryland professor has taken the issue on and says the current chaos could be a catalyst for change. Mall owners are starting to feel the COVID-19 pinch. Taubman is sticking tight to its rent guidelines.

CFPB Sues Structured Settlement Firm for Alleged Lead Paint Scam

American Banker

The Consumer Financial Protection Bureau filed a lawsuit Monday against a Maryland company that allegedly targeted victims of lead paint poisoning and got them to sign away future settlement payments for immediate cash at a deep discount. breaking_news law-regulation cfpb doddfrank enforcement consumer-finance

Third Federal in Ohio to Offer First Mortgages in Five More States

American Banker

Third Federal Savings and Loan in Cleveland has long offered mortgage refinancing in New Jersey, Pennsylvania, Maryland, Virginia and North Carolina. Now it plans to offer purchase loans in those states. breaking_news mortgage housing consumer-finance

Kopernik, Liberty Banks in Baltimore to Merge

American Banker

Kopernik Bank and Liberty Bank of Maryland, both mutual thrifts in Baltimore, have agreed to merge. No money would change hands given the mutual-ownership structures involved in the deal. breaking_news community-banking m-a md dealmaking-strategy

Fraudsters Accused In $364M Ponzi Debt Scheme

PYMNTS

According to Reuters , the men — Kevin Merrill of Maryland, 53, Jay Ledford of Texas and Nevada, 54, and Cameron Jezierski of Texas, 28 — falsely claimed to be investment professionals and used a fake portfolio to defraud hundreds of investors. Attorney for the District of Maryland, Robert Hur, said. “It’s Federal prosecutors have charged three men who allegedly ran a $364 million Ponzi scheme.

Mastercard Grows City Possible Network

PYMNTS

The new cities include Augusta, Georgia; Madre De Deus, Brazil; New Orleans, Louisiana; Seat Pleasant, Maryland and Wellington, New Zealand, among others.

CFPB files lawsuit against debt collector FCO Holding, Inc. and CEO Michael E. Sobota

CFPB Monitor

On September 25, 2019, the CFPB filed a lawsuit in federal district court in Maryland against Maryland-based debt collector FCO Holding, Inc. (“FCO”),