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Tag Archives: bank

Pennsylvania bank buys Madison Square

Codorus Valley Bancorp Inc., of York, Pa., which owns Pennsylvania’s PeoplesBank, announced it will acquire Baltimore’s Madison Bancorp Inc., parent of Madison Square Federal Savings Bank. Codorus Valley will buy Madison in an all-cash transaction valued at approximately $14.4 million, ...

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Small banks decry crush, cost of Dodd-Frank regulations (access required)

Bob DeAlmeida

Formally known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, Dodd-Frank is a complex, far-reaching set of banking regulations — the most sweeping financial reforms since the Great Depression. Passed by Congress in July 2010 and named after its two main sponsors, former Sen. Christopher Dodd of Connecticut and former Rep. Barney Frank of Massachusetts, the law was aimed at preventing another recession like the one that battered consumers during the 2000s. But four years after being enacted and with the economy still on the rebound, many small, community banks say they are being unfairly hampered by the reforms.

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Frederick Co. Bancorp’s 1Q earnings up (access required)

Frederick County Bancorp Inc., of Frederick, the parent company of Frederick County Bank, reported first-quarter net income of $525,000, or 34 cents per diluted share, a 9.4 percent rise over the $480,000, or 31 cents per diluted share, posted for the prior-year period.

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Severn Bancorp boosts earnings in 1Q (access required)

Severn Bancorp Inc., of Annapolis, the parent company of Severn Savings Bank, reported first-quarter net income of $867,000, or 3 cents per diluted share, a nearly 40 percent increase compared to net income of $621,000, or 3 cents per diluted share, for the prior-year period.

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