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                                   EXHIBIT 99

                                  RISK FACTORS

     REGULATORY RISKS. The banking industry is subject to many laws and
regulations. Regulations protect depositors, not stockholders. The Maryland
Division of Financial Regulation, the Federal Deposit Insurance Corporation, and
the Board of Governors of the Federal Reserve System regulate the Company and
the Bank. Regulations and laws increase the Company's operating expenses, affect
the Company's earnings, and put the Company at a disadvantage with less
regulated competitors, such as finance companies, mortgage banking companies,
and leasing companies.

     EXPOSURE TO LOCAL ECONOMIC CONDITIONS. Most of the loans made by the Bank
are made to Maryland borrowers. A decline in local economic conditions would
affect the Company's earnings.

     CREDIT RISKS AND INADEQUACY OF LOAN LOSS RESERVE. When borrowers default
and do not repay the loans made to them by the Bank, the Company loses money.
Experience shows that some borrowers either will not pay to time or will not pay
at all. In these cases, the Bank will cancel, or "write off", the defaulted loan
or loans. A "write off" reduces the Company's assets and affects the Company's
earnings. The Company anticipates losses by reserving what it believes to be an
adequate cushion so that it does not have to take a large loss at any one time.
However, actual loan losses cannot be predicted, and the Company's loan loss
reserve may not be sufficient.

     INTEREST RATE RISK. The Company's earnings depend greatly on its net
interest income, the difference between the interest earned on loans and
investments and the interest paid on deposits. If the interest rate paid on
deposits is high and the interest rate earned on loans and investments is low,
net interest income is small and the Company earns less. Because interest rates
are established by competition, the Company cannot completely control its net
interest income.

     RISKS ASSOCIATED WITH REAL ESTATE LENDING. The Bank makes many real estate
secured loans. Real estate loans are in demand when interest rates are low and
economics are good. Even when economic conditions are good and interest rates
are low, these conditions may not continue. The Company may lose money if the
borrower does not pay a real estate loan. If real estate values decrease, then
the Company may lose more money when the borrowers default.

     NO ASSURANCE OF GROWTH. The Company's ability to increase assets and
earnings depends upon many factors, including competition for deposits and
loans, the Company's branch and office locations, avoidance of credit losses,
and hiring and training of personnel. Many of these factors are beyond the
Company's control.

     COMPETITION. Other banks and non-banks. Including savings and loan
associations, credit unions, insurance companies, leasing companies, small loan
companies, finance companies, and mortgage companies, compete with the Company.
Some of the Company's competitors offer services and products that the Company
does not offer. Larger banks and non-bank lenders can make larger loans and
service larger customers. Law changes now permit interstate banks, which may
increase competition. Increased competition may decrease the Company's earnings.

     NO ASSURANCE OF CASH OR STOCK DIVIDENDS. Whether dividends may be paid to
stockholders depends on the Company's earnings, its capital needs, law and
regulations, and other factors. The Company's payment of dividends in the past
does not mean that the Company will be able to pay dividends in the future.

     STOCK NOT ISSUED. Investments in the shares of the Company's common stock
are not deposits that are insured against loss by the government.

     RISK INVOLVED IN ACQUISITION. Part of the Company's growth may come from
buying other banks and companies. A newly purchased bank or company may not be
profitable after the Company buys it and may lose money, particularly at first.
The new bank or Company may bring with it unexpected liabilities or bad loans,
bad employee relations, or the new bank or company may lose customers.

     RISK OF CLAIMS. Customers may sue the Company for losses due to the
Company's alleged breach of fiduciary duties, errors and omissions of employees,
officers and agents, incomplete

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documentation, the Company's failure to comply with application laws and
regulations, or many other reasons. Also, employees of the Company conduct all
of the Company's business. The employees may not be aware of any violations
until after their occurrence. This lack of knowledge will not insulate the
Company from liability. Claims and legal actions may result in legal expenses
and liabilities that may reduce the Company's profitability and hurt its
financial condition.

     DEVELOPMENTS IN TECHNOLOGY. Financial services use technology, including
telecommunication, data processing, computers, automation, internet-based
banking, debit cards, and "smart" cards. Technology changes rapidly. The
Company's ability to compete successfully with other banks and non-banks may
depend on whether it can exploit technological changes. The Company may not be
able to exploit technological changes and expensive new technology may not make
the Company more profitable.

     ANTI-TAKEOVER EFFECTS OF CERTAIN CHARTER AND BYLAW PROVISIONS. The
Company's Articles of Incorporation and Bylaws divide the Company's Board of
Directors into three classes and each class serves for a staggered three-year
term. No director may be removed except for cause and then only by a vote of at
least6 two-thirds of the total eligible stockholder votes. In addition, Maryland
law contains anti-takeover provisions that apply to the Company. These
provisions may discourage or make it more difficult for another company to buy
the Company or may reduce the market price of the Company's common stock.

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