Maryland

A Maryland credit union's new venture promises to make enemies out of allies and attract a strange bedfellow — banks.

Har-Co Maryland Federal Credit Union in Bel Air has notified members and the National Credit Union Administration that it plans to convert to a mutual savings bank. It would become the first conversion in more than two years.

First Mariner Bancorp in Baltimore said Monday it had a fourth-quarter a net loss of $33.4 million after reducing the value of some deferred-tax assets.

CapitalSource Inc. may not be drowning, but that isn't stopping the Chevy Chase, Md., finance company from looking for help.

Maryland is trying to make a bigger name for itself with lenders pinching every penny they can, by promoting its lower taxes and better protection for directors.

Sandy Spring Bancorp Inc. in Olney, Md., redeemed the remaining $41.5 million of preferred stock held by the Treasury Department.

Nasdaq is giving a number of struggling companies a little more breathing room, making it easier for stocks to stay on the exchange even after falling short of listing requirements.

Tri-County Financial Corp. in Waldorf, Md., said Friday that its board authorized the repurchase of up 1% of its common stock.

Regulators failed four banks late Friday, pushing the total number of collapses this year to 143. Closures are now are at their highest point since the S&L crisis.

Eagle Bancorp has increased the size of its banking unit, EagleBank, by 33% in the past year — and logged seven consecutive quarters of record profits, including this past quarter.

Eagle Bancorp Inc. of Bethesda, Md., on Monday agreed to acquire a Washington branch along with $17.2 million in deposits from OBA Bank.

Old Line Bancshares Inc. in Bowie, Md., plans to acquire Maryland Bankcorp Inc. in a cash-and-stock deal valued at $20 million.

Premier Financial Bancorp Inc. in Huntington, W.Va., plans to roll up five of its unit banks into one. The $1.1 billion-asset multibank holding company said Tuesday it would merge these units: Boone County Bank in Madison, W.Va.; First Central Bank in Philippi, W.Va.; Traders Bank in Ravenswood, W.Va.; Adams National Bank in Washington; and Consolidated Bank and Trust in Richmond, Va. The combined entity would have $800 million of assets.

The $1.94 billion-asset company said its second-quarter profit rose 52%, to $3.1 million, or 15 cents a share, compared with earnings of $2.1 million, or 16 cents a share, a year earlier.

Hovde Acquisitions, a Washington private equity firm, used a shelf charter to pick up the $282 million-asset Bay National Bank in Baltimore, which was closed by the Office of the Comptroller of the Currency and was one of four failures on Friday.

Hovde Acquisitions, a Washington private equity firm, used a shelf charter to pick up the $282 million-asset Bay National Bank in Baltimore, which was closed by the Office of the Comptroller of the Currency and was one of four failures on Friday.

Cecil Bancorp Inc. in Maryland and its subsidiary Cecil Bank Friday agreed not to declare or pay any dividends without the prior consent of federal and state regulators.

Lured by the chance to raise capital and worried about the future of the Office of Thrift Supervision, a wave of mutual holding companies have received approval to convert to full stock companies.

Independence Federal Savings Bank in Washington has called off its acquisition of Colombo Bank in Rockville, Md., after an indication from regulators that the deal had been delayed indefinitely.

CapitalSource Inc. in Chevy Chase, Md., announced Monday that it has acquired MainStreet Lender LLC, a Small Business Administration lender, for $100 million.