Severn Savings Bank, BankAnnapolis, The Bank of Glen Burnie and CommerceFirst remain solvent.
Bank officials blame the disappointing results on a combination of factors, including money set aside for loan losses, a slowdown in mortgage activity, increased loan delinquencies and declining interest rates.
This month, BankAnnapolis announced that its net income dropped 55 percent in the third quarter to $299,000 from $662,000 that period a...
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