Ellicott City-Based Howard Bank Expanding

Ellicott City-based Howard Bank is moving into Harford County, according to a Monday announcement. 

As of April 1, Howard Bank has entered into a purchase agreement with Cecil Bank to acquire the branch at 3 West Bel Air Avenue in Aberdeen, according to a press release.

Howard Bank has locations in Howard and Anne Arundel counties. It plans to open a branch in Towson and possibly Baltimore City, the Baltimore Business Journal reported.

The Aberdeen branch will be Howard Bank's first foray in Harford County.

"Harford County presents many exciting opportunities and we are presently searching for an additional location in the Bel Air marketplace," Mary Ann Scully, president/CEO of Howard Bank, said in a statement. "We look forward to working with Cecil Bank to welcome these customers to Howard Bank and to continuing their strong commitment to community and tradition of customer service."

According to the press release, Howard Bank will acquire $38 million in loans and $37.9 million in deposits from Cecil Bank.

"We are looking forward to seamlessly transitioning our Aberdeen customer base into their organization," Mary Halsey, Cecil Bank's president/CEO, said in a prepared statement. According to Halsey, the transaction will allow Cecil Bank to focus on its core markets. Most of its locations are in Cecil County, with the exception of the Aberdeen branch and another location in Havre de Grace.

Howard Bank's acquisition of the Aberdeen branch is anticipated to be complete sometime between July and October, according to the statement.