Showing posts with label Business Banking. Show all posts
Showing posts with label Business Banking. Show all posts

Tuesday, June 2, 2015

Carroll County Bank and Trust Company reunion on May 23, 2015 at the Carroll County Farm Museum
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Monday, February 10, 2014

Excellent business and economics writer Jamie Smith Hopkins reports 1st Mariner Bank to be sold to investors

1st Mariner Bank to be sold to investors -

Parent company filed for bankruptcy protection as part of the deal; the bank is not included in that filing

By Jamie Smith Hopkins, The Baltimore Sun 7:12 PM EST, February 10, 2014

The parent company of 1st Mariner Bank said Monday that it has signed a deal to sell the bank after years of regulatory demands that it increase its capital, potentially ending the company's long struggle to right itself after the mortgage crisis.

A group of investors, many with local ties, have agreed to buy the Baltimore bank — the largest based in the region — and recapitalize it with about $100 million.

First Mariner Bancorp, the parent company, said it filed for Chapter 11 bankruptcy protection Monday afternoon in Baltimore federal court to "facilitate the transaction."


"For four years, the bank has been under a regulatory order that it's been trying to satisfy, and we've reached the finish line," said Mark Keidel, interim president of 1st Mariner Bank. "This agreement … puts the bank on much firmer financial ground — and quite frankly gives us the ability to be back on offense."

Jamie Smith Hopkins: 1st Mariner Bank to be sold to investors
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Wednesday, October 19, 2011

Kevin E. Dayhoff - Bank Transfer Day

October 19, 2011

Bank Transfer Day
Kevin E. Dayhoff

The continuing saga of the crusade against the vampire squids… I’m just saying…

While everyone was distracted by what Charles Krauthammer delightfully described as, the “Starbucks-sipping, Levi’s-clad, iPhone-clutching protesters (of the Occupy Wall Street movement who) denounce corporate America even as they weep for Steve Jobs, corporate titan, billionaire eight times over…,” a new social uprising term has entered the public discourse. Saturday, November 5 is “Bank Transfer Day.”

According to the uprising’s meager beginnings on Facebook, created by a small business owner, Kristen Christian, 27, a small art gallery owner in Los Angles, citizens are encouraged to take their money out of the blood-sucking vampire squid mega-banks and put it in smaller community banks or more specifically, credit unions.

Ms. Christian owns “Le Spec,” an independent art gallery. She spoke for many when she answered a question from Jen Doll, in a Village Voice article: Why did you decide to do this?

“Mostly just, I was tired. I was tired of being charged bank fee after bank fee after bank fee… When they decided to react so negatively to the Durbin Amendment, that made me sick…”

As opposed to the Occupy Wall Street protests, which appear to be a mobocracy of themeless, clueless anarchists on holiday, Bank Transfer Day has a well-defined and articulated goal, with a specific action plan.

Even National Public Radio, which never met a leftist cause it could not wholeheartedly support, with our tax dollars, could not fathom what the Occupy Wall Street protestors were trying to say

Much of the mainstream media and leftist Democrats want you to believe that Bank Transfer Day is an offshoot grass-roots effort spawned by the Occupy Wall Street anarchists-without-a-clue.

Nothing could be farther from the truth...

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Thursday, May 26, 2011

New York Times: Community Banks Lobby to Limit New Regulations

Community Banks Lobby to Limit New Regulations


Community Banks Lobby to Limit New Regulations

Network television ads appearing in the Washington area feature an anxious woman who cautions that “community banks and credit unions will be squeezed” by “bad” regulation.

Subway cars serving suburban Virginia carry similar warnings, while Capitol Hill newspapers have run ads from small banks that show an empty pocketbook alongside an alarming notice that “Washington is helping you clean out your wallet.”

The message is clear: lawmakers and regulators should tread lightly on small banks.

In recent months, the community banking industry has started an aggressive grassroots campaign, taking aim at regulation enacted in the aftermath of the financial crisis. Small banks fear new rules under the Dodd-Frank law, especially certain consumer protection provisions and debit card fee restrictions, could hurt their bottom line and even cause a few banks to fail. The Independent Community Bankers of America, an industry trade group, spent roughly $1.2 million lobbying regulators and lawmakers in the first quarter of 2011, according to the Center for Responsive Politics.

But the regulation may not be as burdensome as the advertising campaign — or the lobbying dollars — implies. Community banks and credit unions won exemptions from several of the law’s toughest provisions, and some of the rules put small banks on more equal footing with big banks.

“There is basic human anxiety about change,” said Neal S. Wolin, deputy secretary of the Treasury...

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Monday, December 6, 2010

December 7, 1923: Woodbine National Bank - Important Case Decided By The Court Of Appeals

Important Case Decided By The Court Of Appeals

The Court of Appeals of Maryland decided on December 6, 1923, the case of James R. Weer against the Woodbine National Bank, at Woodbine, Carroll County, in favor of the Woodbine Bank, and sustaining the judgment of the Circuit Court for Carroll County against James R. Weer.

Mr. Weer had a safe deposit box in the vault of the Woodbine Bank, which he rented to keep his securities in and yeggmen one night some time ago entered the Bank, and cut a way through the vault doors with an acetylene torch, broke open the safe deposit boxes, and stole the bonds of Mr. Weer and other renters.

Mr. Weer sued the Bank, alleging negligence because the Bank did not have a burglar alarm system, a watchman, insurance of the contents of its safety boxes, and sufficiently thick doors to the vault.

The Circuit Court for Carroll County held that there was no negligence, under all the circumstances, on the part of the Bank and its officials, and by direction of the Court the jury found for the Bank; and this position of the Carroll County Court has been affirmed by the Court of Appeals. The case is important because it determines a number of other claims depending on this suit.

Democratic Advocate, December 7, 1923.

19231207 Important Case Decided By The Court Of Appeals

19231207 Important Case Decided By The Court Of Appeals

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History 1920s, History 1920s Carroll Co, Bus Banking Carroll Co, Business Banking, Bus Econ History, Judiciary Carroll County, 
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Monday, September 28, 2009

Baltimore Sun Bank Failures graph

20090923 Sun Bank Failures graph

September 28, 2009 story Treasurys rise for 5th straight day even as stocks rebound; investors cautious ahead of data SARA LEPRO ,AP Business Writer ...bill rose to 0.10 percent from 0.09 percent. Its discount rate was 0.11 percent. The cost of borrowing between banks was flat. The British Bankers' Association said the rate on three-month loans in dollars ? the London Interbank Offered... TAGS: Bonds, Abbott Laboratories, Affiliated Computer Services Inc., Mergers, Acquisitions and Takeovers, Xerox Corporation

September 28, 2009 story FDIC chair calls for federal regulation of bank overdraft fees CANDICE CHOI, JEANNINE AVERSA ,AP Business Writers ...industry earned about $29 billion from overdraft fees, according to Oliver Wyman, a Boston-based consulting firm for the banking industry. As part of the changes announced last week, the Bank of America, JPMorgan Chase, U.S. Bank and Wells Fargo...TAGS: J.P. Morgan Chase & Co., National Government, Central Bank, Lawyers, Consumers

September 28, 2009 story FDIC likely will require banks to prepay $36 billion fees to replenish deposit insurance fund MARCY GORDON ,AP Business Writer
...executives and a government official said. The banking industry prefers that option over a special...FDIC look as if it were beholden to the banking industry, experts say. Losses ad hoc basis," said Bert Ely, a banking industry consultant in Alexandria, Va... TAGS: U.S. Department of Treasury, Air and Space Accidents, Prices, Heads of State, Emergency Planning

September 23, 2009 column Hale facing long odds in bailing out 1st Mariner Jay Hancock: … to fix a money-losing bank or have it seized by the government was the early 1990s. The trucking executive had gained control of the Bank of Baltimore, which lent itself into trouble in the last real estate crash.

Go to the Baltimore Sun for more on business and banking:


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Friday, May 22, 2009

Mark Keidel from Carroll County promoted to chief operating officer of 1st Mariner Bank

1st Mariner Bank Promotes Executives as It Prepares for Future Growth

Company Release - 05/20/2009 12:00

On Wednesday May 20, 2009, 12:00 pm EDT

Mark A. Keidel is named director and chief operating officer of 1st Mariner Bank, Paul B. Susie is appointed chief financial officer and Robert P. Warr is promoted to chief risk officer and executive vice president

BALTIMORE, May 20 /PRNewswire-FirstCall/ -- 1st Mariner Bank (Nasdaq:
FMAR - News) today promoted Mark A. Keidel to chief operating officer of the bank and holding company, and Robert P. Warr to chief risk officer and executive vice president. 1st Mariner also announced that Paul B. Susie will be appointed to the position of Chief Financial Officer.

As chief operating officer, Keidel will be responsible for the day-to-day operations of the bank and the holding company, 1st Mariner Bancorp, which has $1.377 billion in assets and employs 700 people. He also will become a director of both entities. Most recently, Keidel was 1st Mariner's chief financial officer.

As chief risk officer, a newly created position at the bank, Warr will be responsible for the quality and profitability of the bank's loan portfolio. He will oversee the credit function, legal department, construction administration and the bank's appraisal subsidiary. Most recently, Warr was senior vice president of commercial lending.

As chief financial officer, Susie succeeds Keidel and will be responsible for supervising the bank's general accounting, purchasing and regulatory accounting functions.

The promotions are effective immediately, said Edwin F. Hale Sr., Chairman and Chief Executive of 1st Mariner Bancorp.

"Mark and Bob are extraordinarily talented and dedicated individuals who have demonstrated remarkable skill during these past two difficult years," Hale said. "Paul is an excellent addition to our executive management team, bringing fresh perspective and solid business experience. They have each proven to be strong leaders and adept decision makers and will be an integral part of 1st Mariner Bank as we work to improve profitability and seize upon the many opportunities we see in the market."

Keidel replaces Joseph A. Cicero, 65, who retires May 22nd. Cicero, who was chief operating officer and president of 1st Mariner Bancorp, will continue to work with the bank on a consulting basis through the end of the year. He is a 14-year 1st Mariner Bank veteran and a 38-year veteran of the banking industry.

"Joe has made a significant contribution to the development of 1st Mariner," Hale said. "His efforts and leadership have been invaluable."

Keidel joined 1st Mariner in June 2000 as executive vice president and chief financial officer. Prior to that he was chief financial officer at Mason-Dixon Bancshares, Inc., in Westminster, Maryland, controller at Carroll County Bank & Trust, and managerial accounting officer at First National Bank of Maryland. A graduate of Frostburg State University, Keidel received his Certified Public Accounting credentials in 1991, and attended the Bank Administration Institute Financial School the same year.

Warr joined 1st Mariner in April 1997 as senior vice president in commercial lending. Prior to coming to 1st Mariner, Warr was senior vice president for real estate lending at the Bank of Baltimore where he managed the commercial loan workout program. He began his commercial banking career at Union Trust Company where he originated and serviced income property loans in Washington, D.C., northern Virginia and Maryland. Warr received a Bachelor of Science degree from the University of Baltimore.

Susie is new to the 1st Mariner organization. He began his career with Coopers and Lybrand (now PriceWaterHouseCoopers) and has held senior financial positions with Baltimore Marine Industries, Earthshell Corporation and Celsion Corporation. A graduate of the University of Baltimore, he has over 18 years of experience in both public and corporate accounting and is a Certified Public Accountant.

Hale also announced that in addition to the individuals listed above, the Executive Management of the bank will include George H. Mantakos, Dennis E. Finnegan, Edward "Ned" Perry, and Kenneth C. Jones. George Mantakos will continue to serve as the bank's Chief Lending Officer. Dennis Finnegan will continue to serve as the director of retail banking, as well as overseeing the company's human resource, deposit operations, and information technology functions. Ned Perry will continue to serve as President of 1st Mariner Mortgage, and Ken Jones will continue to serve as Senior Vice President leading the bank's facilities administration.

Hale concluded, "I am confident that our executive management group has the right mix of experience, technical skills, and energy to lead 1st Mariner Bank through these difficult times. In spite of the challenges in the current market today, I am optimistic about 1st Mariner's future and this group's ability to tackle current challenges while preparing the company for future opportunities."


1st Mariner Bancorp is a bank holding company with total assets of $1.377 billion. Its wholly owned banking subsidiary, 1st Mariner Bank, (total assets $1.265 billion) operates 25 full service bank branches in Baltimore, Anne Arundel, Harford, Howard, Talbot, and Carroll counties in Maryland, the City of Baltimore, and Shrewsbury, Pennsylvania. 1st Mariner Mortgage, a division of 1st Mariner Bank, operates retail offices in Central Maryland, the Eastern Shore of Maryland, and Massachusetts. 1st Mariner Mortgage also operates direct marketing mortgage operations in Baltimore City. Mariner Finance, LLC (total assets $101 million) is a consumer finance subsidiary that currently operates branches in Maryland, Delaware, Virginia, New Jersey, and Tennessee. 1st Mariner Bancorp's common stock is traded on the Nasdaq National Market under the symbol "FMAR." 1st Mariner's Web site address is, which includes comprehensive level investor information.

20090520 sdosm Mark Keidel from Carroll County promoted

Thursday, March 19, 2009

This week in The Tentacle for March 19 2009

This week in The Tentacle for March 19 2009

Thursday, March 19, 2009
Jennifer Again?
Patricia A. Kelly
I can’t believe she’s back – yet again. She says she’s running because she loves Frederick. A lot of us love Frederick, and we love it a lot more when she is not mayor.

Imitating a Junta…
Tony Soltero
Back when I was a child, my parents once took a long, ambitious vacation to South America. When they got home they brought back countless little treasures from the countries they visited, an album's worth of beautiful photographs, and plenty of gripping stories to share. My brothers and I couldn't get enough of them.

Wednesday, March 18, 2009
Think Globally, Bank Locally
Kevin E. Dayhoff
If you are banking with any of the ginormous intergalactic financial institutions that are at the center of the current financial crisis, then you are part of the problem.

Budget Cuts Affecting Local Arts Scene
Michael Kurtianyk
If current legislation is passed by the General Assembly, funding to the Maryland State Arts Council would decrease from $16.6 million to $10.6 million. This is on top of the 14 percent cut last year, used to balance the budget.

A $40 Million Ruse
Tom McLaughlin
Batam Island, Indonesia – The islands were calling me and with rhythms of music from South Pacific flowing in my mind, I elected to visit a couple of them about an hour boat ride off the coast of Singapore.

Tuesday, March 17, 2009
Pushkin's Winter of Discontent
Roy Meachum
Mother Nature and government frequently disagree. Washington told us clocks must be turned back February's last weekend. A sure sign of Spring? The season doesn't begin until three weeks later.

Exhibiting America’s Traits
Nick Diaz
There was a time when one, in the world of machines, could hardly hear two dirtier words than “Planned Obsolescence.” The very idea that a complex mechanical object should have a deliberately abbreviated life expectancy was nothing less than a kind of mortal sin against proper engineering.

Monday, March 16, 2009
General Assembly Journal 2009 – Volume 8
Richard B. Weldon Jr.
Granting Personhood! Yes, I know what the editor is saying. What a terrible example of poor grammar in an opening. Unfortunately, I don’t make this stuff up, I just write about it!

Where’s the “Ownership,” Mr. President?
Steven R. Berryman
During the election cycle of 2008 it became the standard rhetoric for candidate Barack Obama and his wife to distance themselves from the elements of what it meant to “be American.”

Friday, March 13, 2009
"Pope Admits Mistake"
Roy Meachum
That semi-apology appeared in The New York Times. The rest of the headline narrowed the impact considerably; the admission came "In Letter to Bishops."

I Still Pledge My Allegiance
Joe Charlebois
Sarah Norris, a columnist for The Frederick News-Post, on February 28 submitted a column which gave us an insider’s view of early morning at a Frederick County high school. Ms. Norris describes the scene of fellow students ignoring the morning ritual of patriotic recitation that American students have recited for decades – the Pledge of Allegiance.

Thursday, March 12, 2009
Waking Up The Populace
Joan McIntyre
Are we about to see cracks in the glass ceiling in the world of our Frederick County Board of Education and Frederick County Public Schools? Will the Sacred Cow called the public schools system be held accountable?

REVIEW – Riverdance" Has It All!
Roy Meachum
While being amazed in Baltimore's Hippodrome Theatre Tuesday night, the thought occurred: In my 40-plus years reviewing I've never seen a smoother musical show. Put simply: "Riverdance" has it all!

True Measure of Success
Chris Cavey
Our society has many ways to gauge the success or failure of those involved in the political world. One unique measurement of judging those who have mounted the national platform of “being someone of note” is to be a host or to be lampooned on Saturday Night Live. Last Saturday Michael Steele made it.

Wednesday, March 11, 2009
The Dangerous Diplomacy of Pandering
Kevin E. Dayhoff
I recently had the delightful opportunity to go to Washington and have lunch with a member of the Estonian Parliament, Tõnis Kõiv.

The Weavers and the Money
Tom McLaughlin
Lombok, Indonesia – We had finished our visit with the stump tailed Macaques and the use of my teaching techniques on the troop. Our next stop, a small enterprise, located only through a side road, winding through a housing estate filled with homes (we would call them shacks) constructed of wood.

Bobby Fischer: Genius or Madman?
Michael Kurtianyk
It has often been said that there’s a fine line between genius and madness. Think of some people whom you consider to be geniuses? Does Albert Einstein come to mind? Thomas Jefferson? Benjamin Franklin?

Tuesday, March 10, 2009
GOP Spitting Contest
Roy Meachum
As a non-Republican, I find amusing the recent rhubarb within the GOP party over Michael Steele.

Misinformation and Playing Politics
Farrell Keough
Some interesting events have occurred over the last few weeks that are seemingly disparate, but in fact, have many commonalities. The main connection is the discussion of the Waste To Energy (WTE) plant.

20090319 This week in The Tentacle for March 19 2009

Kevin Dayhoff
Kevin Dayhoff: Westminster Maryland Online

Monday, March 9, 2009

New York Times – Sept. 30, 1999: Fannie Mae Eases Credit To Aid Mortgage Lending

The New York Times – September 30, 1999: Fannie Mae Eases Credit To Aid Mortgage Lending
Hat Tip: Analog

Fannie Mae Eases Credit To Aid Mortgage Lending


Published: September 30, 1999

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.


Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.

''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''


In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

Read the entire article here: Fannie Mae Eases Credit To Aid Mortgage Lending

19990930 NYT Fannie Mae Eases Credit To Aid Mortgage Lending
Kevin Dayhoff
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Saturday, January 24, 2009

My recent columns in The Tentacle on the economy by Kevin Dayhoff

My recent columns in The Tentacle on the economy by Kevin Dayhoff

January 24, 2009

I have had a number of folks recently ask where they may find my recent columns in The Tentacle on the economy:

October 3, 2008
Congress and The Rattlesnake – Part 3
Kevin E. Dayhoff
On May 13, 2008, Democratic presidential nominee Barack Obama compared the current housing crisis in the U.S. to the Great Depression in a campaign stop in Missouri.

October 2, 2008
Congress and The Rattlesnake – Part 2
Kevin E. Dayhoff
For several weeks the nation and the world have been watching the financial news emanating from Washington and Wall Street with that “deer in headlights” look as everyone holds their breath in disbelief and worries another shoe will drop.

October 1, 2008
Congress and the Rattlesnake – Part 1
Kevin E. Dayhoff
In response to the increasing wrath of the American voter, the U.S. House of Representatives came to its senses on Monday and voted 288 to 205 to kill the rash and ill-conceived proposed $700 billion bailout of Wall Street.

November 5, 2008
It’s the Congress, Stupid!
Kevin E. Dayhoff
When historians look back on the 670-day, $2.5 billion 2008 presidential campaign, the observations, analysis, second-guessing, and finger pointing will fill volumes. In the end, it was once again, “the economy, stupid” that ruled the day.

November 19, 2008
Rewarding Bad Behavior
Kevin E. Dayhoff
Instead of tooling down the highway in the fast lane, two months after General Motors celebrated its 100th Birthday on September 16, it found itself huddled over at an intersection with fate, harassing passers-by with a tin pan in hand.

November 26, 2008
“The Eight Years War”
Kevin E. Dayhoff
At high noon on Monday, amid cries of alarm that this is the worst economic crisis since the Great Depression, President-elect Barack Obama rolled out his all-star economic team and a call for an economic stimulus package that could cost as much as $1 trillion.

20090124 my recent columns in The Tentacle on the economy

Kevin Dayhoff
E-mail him at: kdayhoff AT
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The Westminster Eagle /Eldersburg Eagle The Sunday Carroll Eagle - Opinion:

Kevin Dayhoff
Kevin Dayhoff: Westminster Maryland Online

Monday, December 15, 2008

Washington Post: Fed Could Remake Credit Card Regulations

Washington Post: Fed Could Remake Credit Card Regulations

What in the world took the Fed so long to stop the predacious practices of credit card issuers?

New Rules Would Ban Retroactive Rate Hikes

By Nancy Trejos Washington Post Staff Writer Sunday, December 14, 2008; F01

The Federal Reserve on Thursday will vote on sweeping reform of the credit card industry that would ban practices such as retroactively increasing interest rates at will and charging late fees when consumers are not given a reasonable amount of time to make payments.

The Fed, which has been considering the proposed changes since May, declined this week to release details of the final draft regulations. But banking officials and consumer advocates said that they do not expect substantial changes before the vote, especially since members of Congress have pressured the Fed not to water down the rules.

However, industry officials and consumer advocates said, the Fed will likely postpone a decision on a proposal to prohibit banks from charging fees for overdraft protection unless they have given customers the chance to opt out. Both the banking industry and consumer advocates considered the overdraft proposal flawed.

If the new credit card regulations are approved largely as proposed, they would represent the most significant overhaul of the industry in decades, banking officials and consumer advocates said. The Fed has not yet indicated a timeline for implementation.


Read the entire article here: Fed Could Remake Credit Card Regulations

20081214 WaPo
Fed Could Remake Credit Card Regulations By Nancy Trejos

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