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.

Eagle in Maryland discloses spike in watch list loans

BankThink

Community banking Credit quality Earnings MarylandSuch credits, which reflect borrowers with financial challenges, increased significantly during the third quarter.

First United in Maryland faces more pressure to sell

BankThink

Community banking Activist Investors M&A MarylandA second activist investor is pushing the company's board to find a buyer.

BV Financial to expand in northeast Maryland with acquisition

BankThink

Community banking M&A Growth strategies MarylandThe Baltimore company will pay $31 million for MB Bancorp.

Activist investor presses First United in Maryland to sell

BankThink

Community banking M&A Activist Investors MarylandDriver Management said it believes the company would create more shareholder value by finding a buyer.

Former Tarp director involved with Maryland de novo effort

BankThink

Community banking Capital De novo institutions TARP Treasury Department MarylandLori Bettinger is one of the organizers of NXG Bank, which has applied to open in Columbia, Md.

ACNB agrees to buy Frederick County Bancorp in Maryland

BankThink

Community banking M&A Growth strategies Pennsylvania MarylandThe $60 million acquisition will allow ACNB, which is based in Pennsylvania, to enter a new market.

Wells Fargo alum joins board of Eagle in Maryland

BankThink

Community banking Corporate governance Succession planning Wells Fargo MarylandTheresa LaPlaca, one of four new directors at the company, ran an office Wells formed to address issues tied to its sales and reporting practices.

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.

Old Line in Maryland to sell to WesBanco for $500 million

BankThink

Community banking M&A Growth strategies West Virginia MarylandWesBanco, which is based in West Virginia, will have more than $15 billion in assets when it completes the acquisition.

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

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.,

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

Investor group to buy correspondent bank in Maryland

BankThink

MFA Acquisition, which plans to keep Maryland Financial Bank's name, wants to add more products and services after the deal closes. Community banking Correspondent banking M&A Capital Growth strategies Maryland

Community Financial to expand in Maryland with $34M acquisition

BankThink

Community banking M&A Capital MarylandThe company agreed to buy County First Bank in a cash-and-stock transaction.

Bulldog FCU becomes first Maryland CU to offer legal pot banking

BankThink

The Maryland credit union will offer business services to the medical cannabis industry. Marijuana banking Marijuana industry Business services FinCEN NCUA Maryland

Many get stung by Maryland banking company's bankruptcy plan

BankThink

Community banking M&A Capital TARP Sailthru NMN servicing no display Treasury Department MarylandThe Treasury Department will take a huge hit when Cecil Bancorp sells it bank, while 1st Mariner Bank in Baltimore will see its equity stake completely wiped out. Cecil opted for bankruptcy court when it was unable to resolve an impasse over its trust-preferred stock.

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

Sandy Spring to buy Revere Bank

BankThink

The company will add nearly a dozen branches in the Maryland suburbs of Washington. Community banking M&A Growth strategies Maryland Washington

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.

Sandy Spring to buy wealth manager in Northern Virginia

BankThink

The Maryland company agreed to acquire Rembert Pendleton Jackson, which has $1.3 Community banking M&A RIAs Maryland Virginiabillion in assets under management.

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

Sandy Spring snags final puzzle piece to its D.C. expansion plans

BankThink

The Maryland company says two recent deals, including its agreement to buy Revere Bank, gives it the right amount of coverage across Washington's suburbs. Community banking M&A Growth strategies Maryland Washington DC Virginia

DC 81

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.

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

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.

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

The Harbor Bank of Maryland Offers 60-Month CD Special, 3.56% APY

Deposit Accounts

Offers & Promotions The Harbor Bank of Maryland Bank Information Page | Receive Alerts for this Bank. The Harbor Bank of Maryland Offers 60-Month CD Special, 3.56% APY POSTED ON THURSDAY, JANUARY 10, 2019 BY Ken Tumin Deal Summary: 60-month CD Special (3.56% APY), 60-month IRA Special (3.71% APY), $1k min deposit new money, available through January 31, 2019. Please refer to our financial overview of The Harbor Bank of Maryland (FDIC Certificate # 24015) for more details.

Eagle Bancorp selects veteran banker as permanent CEO

BankThink

The Maryland company has hired interim CEO Susan Riel to officially take over the post. Community banking Succession planning Earnings WIB scan Maryland

Maryland Regulator Approves CU Purchase of Bank

Keith Leggett's Credit Union Watch

Mark Kaufman, Maryland Commissioner of Financial Regulation, today announced his approval for the purchase and assumption of the assets and liabilities of Advance Bank by Municipal Employees Credit Union (MECU) of Baltimore. Advance Bank, a federally-chartered mutual savings bank located in Baltimore, Maryland, has two branches and total assets of approximately $54 million.

De novo bets big on mortgages as other banks back off

BankThink

Many community banks have given up on national mortgage platforms as not worth the effort, but organizers of NXG Bank in Maryland say they have a plan to make one work. De novo institutions Community banking M&A Capital Digital mortgages Maryland

WesBanco joins parade of W.Va. banks into D.C. area

BankThink

Community banking M&A Growth strategies Maryland West Virginia VirginiaA company that operates mostly in rural markets is finally making a push into the thriving mid-Atlantic markets of Washington and Baltimore with its deal for Old Line Bancshares.

Eagle's profit rises due to focus on adjustable-rate loans

BankThink

Spread income offset higher expenses during the first quarter at the Maryland bank. Earnings Community banking Deposits Maryland

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

Old Line to buy DCB Bancshares in Maryland for $41 million

BankThink

Old Line will have more than $2 billion in assets when it completes the acquisition, its fourth since 2011. M&A Capital Growth strategies

Why this bankers' bank is throwing in the towel

BankThink

In a rare move, Maryland Financial is voluntarily liquidating after its customer base shrank and efforts to sell itself failed. Correspondent banking Corporate governance Financial regulations Community banking M&A Maryland

Revere Bank raises $47M through public offering

BankThink

Community banking Capital markets Capital MarylandThe bank's public offering comes three years after it raised $16 million in a private placement.

Members sue Maryland Credit Union for alleged TILA violations

CU Insight

The post Members sue Maryland Credit Union for alleged TILA violations appeared first on CUInsight. The $188 million Marriott Employees Federal Credit Union asked a federal judge to throw out a civil lawsuit brought by two members. They claimed the Bethesda, Md.-based based credit union violated the Truth in Lending Act by failing to disclose the true cost of mini-loans for which members were allegedly charged an interest rate of 46%. MEFCU argued in documents filed in U.S.

Ronald Paul retires as Eagle Bancorp CEO, citing health issue

BankThink

Community banking M&A Succession planning Growth strategies Maryland Washington DCPaul, one of American Banker's Community Bankers of the Year in 2012, made Eagle a formidable Washington-area institution.

What's drawing banks to Baltimore

BankThink

Community banking Growth strategies Branch banking MarylandBanks from the North and South are converging on the city, spurred by a spike in deposits and employment numbers that trump national averages.

Maryland CU Pays $4.75 Million for Arena Naming Rights

Keith Leggett's Credit Union Watch

SECU is the largest state-chartered credit union in Maryland, with $2.6 The Baltimore Sun is reporting that Linthicum-based State Employees Credit Union (SECU) will pay $4.75 million over the next 10 years to have Towson University''s new basketball facility called SECU Arena. The deal includes the use of one of the arena''s two large corporate suites, which will be used to woo potential customers and reward employees, and access to multipurpose rooms in the $70 million, 5,200-seat arena.