Deals

Howard Bancorp Raises Capital for Patapsco Acquisition

By |

Howard Bancorp (NASDAQ: HBMD) raised $25 million in an equity offering. The bank has operations in the Baltimore metro area and offers a mix of mobile banking technology and live customer service to assist clients with their banking needs. The offering was part of a stock and cash deal that allowed Howard to merge with Patapsco Bancorp (OTC: PATD). The merged survivor will have over $1 billion in assets, loans of $810 million and $815 million in deposits. Patapsco chairman and director Thomas O’Neill and director Gary Bozel are joining Howard's board.