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10. The Harbor Bank of Maryland
- 2009 Rank: 10 (Last Year: 9)
- Chief Executive(s): Joseph Haskins Jr.
- Business Type: bank
- Address: 25 W. Fayette Street
Baltimore, MD 21201 - Staff: 80
- Year Started: 1982
- Website: http://www.theharborbank.com
Financial Information
- Assets: $285.0
- Capital: $26.0
- Deposits: $245.5
- Loans: $211.1
When The Harbor Bank of Maryland opened for business, it had already acquired $2.1 million assets. More than 25 years later, Harbor Bank has increased its assets to over $284.9 million, making it Maryland’s largest black-owned bank and the nation’s tenth largest minority-owned bank.
The financial institution provides general banking services in its seven branches throughout Baltimore, Riverdale, and Prince George’s County, Maryland.
In February 2009, Harbor Bank of Maryland received a $3.6 million court judgment when Baltimore-based developer Brookefield-Whitelock Inc. defaulted on its loan. Since September 30, 2008, Harbor Bank’s held an 11.82% ratio of capital to assets; banks need a 10% ratio to be ranked “well-capitalized.”
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