Advertisement

Md. banks remain "well-capitalized"

March 11, 2009

The president and CEO of the Maryland Banking Association talked about the condition of Maryland banks Wednesday during the Hagerstown-Washington County Chamber of Commerce's Eggs and Issues breakfast at Duffy's on Potomac.

Banks headquartered in Maryland increased loans by 12 percent from 2007 to 2008 and remain "well capitalized" based on regulatory guidelines, according to information provided by Kathleen M. Murphy.

The Maryland banking industry is working to move the state out of the existing economic challenges, in part, by making loans to credit-worthy borrowers and providing federal education outreach to students and adults, according to the information Murphy provided.

Maryland banks have stood the test of time by toughening bank auditing and internal controls and having the resources to meet the needs of communities, according to her presentation.

Advertisement

She said the overall mission is to make banks stronger and more successful.

Maryland has 139 banks and more than 1,800 branches, according to statistics provided by the Maryland Banking Association. Those banks have more than $96 billion in deposits.

The Herald-Mail Articles
|
|
|