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Howard Bank Acquires NBRS Bank

Howard Bancorp, Inc. (NASDAQ:HBMD) today announced that its banking subsidiary, Howard Bank, has completed the acquisition of NBRS Bank branch located at 800 Revolution Street, Havre de Grace, MD 21078 pursuant to a purchase and assumption entered into in April 2014.

Pursuant to the sale, Howard Bank has acquired $16.1 million in loans and $18.8 million in deposits from NBRS.

Mary Ann Scully, Howard Bank’s President and CEO, said of the transaction, “Howard Bank has been well received as we have expanded our commitment to and presence in the Harford County marketplace. As the new northern extension of our Greater Baltimore focused delivery strategy, we believe the Havre de Grace branch and customer base will be a beneficiary of as well as a contributor to the Howard Bank growth story. The support provided by NBRS’s personnel has been invaluable in this process. We look forward to delivering our signature brand in this very attractive community.”

– See more at: http://baltimore.citybizlist.com/article/203073/howard-bank-acquires-nbrs-bank#sthash.wKa5PWXV.dpuf

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