# The Harbor Bank of Maryland

The Harbor Bank of Maryland was established in 1982 as a commercial bank providing capital and financial services to the Greater Baltimore and Washington D.C. markets. Harbor Bank is designated by the Federal Deposit Insurance Corporation (FDIC) as a Minority Depository Institution (MDI), as well as a certified Community Development Financial Institution (CDFI), by the United States Treasury.
The Harbor Bank of Maryland has seven branches throughout the Baltimore Metropolitan area, with an additional office dedicated to loan production in Silver Spring, MD.

## History
### Pre-opening

In June of 1973, an organizing committee named "Capital Strategy, Incorporated" filed an application with the Comptroller of the Currency to form a nationally chartered bank named "Harbor National Bank". The committee, led by Joseph Chester, was required by the FDIC to raise $1.5 million in capital (equivalent to over $10 million today) in order to begin operations.
The committee fundraised for the next several years but was unable to get the necessary capital by 1977, the committee had dwindled in members and efforts. Just when things began to look futile, a new committee member, Joseph Haskins, Jr., ignited a new wave of energy. Haskins designed a plan to capitalize the bank with financial support from Baltimore's faith-based communities.
A call from a Senator in 1979 informed the committee that the Federal Reserve Bank would not authorize a federal bank charter. This catalyzed a quick pivot to a state charter for the bank, which required even more funds. A short-term commercial banking charter was granted for "The Harbor Bank of Maryland" by the state in March of 1980. The state charter allowed for investors to purchase shares of the bank, which was a major boost to the revitalized fundraising efforts.

### Opening and operating

Once the administrative and logistical duties were taken care of, The Harbor Bank of Maryland officially opened on September 13, 1982. The bank persevered through the initial years, showing resilience and growing continuously year over year. By 1987, Harbor Bank was poised for Joseph Haskins, Jr. to take the reins and officially lead the Bank as President and CEO. Haskins instilled a new Harbor Bank culture, improving professionalism, increasing financial literacy outreach in the community, and continuing to expand by opening more branches and offering more banking products/services.
The development of the Bank eventually led to the creation of the Bank's holding company, Harbor Bankshares Corporation, in 1992. In May of 1993, The Harbor Bank of Maryland moved headquarters from 21 West Fayette to 25 West Fayette Street to accommodate the increase in staffing and growing customer base. The growth continued as Harbor Bank became the first community bank to launch an investment subsidiary, Harbor Financial Services (HFS) in 1996. Two new financial subsidiaries were launched in 2002; The Harbor Bank of Maryland Community Development Entity (Harbor CDE) and The Harbor Bank of Baltimore LLC, which would become The Harbor Bank of Maryland Community Development Corporation (Harbor CDC).
In an effort to cultivate longevity, Haskins decided to relinquish the presidency and remain as the Chief Executive Officer of both The Harbor Bank of Maryland and Harbor Bankshares Corporation in July of 2000. He also remained President of Harbor Bankshares Corporation, which enabled Haskins to prioritize his time and energy on the holding company and the accompanying subsidiaries.
Today, the Harbor Bank of Maryland is a full-service commercial bank offering checking, savings, CDs and a varying selection of loans.