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Personal Banking

Our commitment is to exceed expectations, one customer at a time.  And that's what makes Bay Bank unique - just like the customers we serve.  Read More >>

Business Banking

Our bank was built by entrepreneurs, for entrepreneurs. At Bay Bank, you will receive the responsive, personal service of a local bank combined with the strength and resources of a larger institution.  Read More >>

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We believe in the simple and straightforward concept that the customer experience should be the number one priority.  Read More >>

The Bank Built by Entrepreneurs for Entrepreneurs. 

Whether we're working with a business owner or an individual managing their personal finances, we believe there is an entrepreneur in all of us. Our philosophy is to employ knowledgeable, experienced bankers who have a strong desire to partner with businesses and individuals to help them reach their financial goals. Outstanding customer experience is our hallmark. With decisions being made locally by individuals who understand the market, we can move quickly on behalf of our customers.

We are proud to be a local bank dedicated to providing the personal service of a community bank combined with a larger institution’s strength of resources. 

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Recent News View All

Columbia, Md. (May 31, 2016) — Bay Bancorp, Inc. (NASDAQ:  BYBK), the parent company of Bay Bank, and Hopkins Bancorp, Inc., the parent company of Hopkins Federal Savings Bank, announced today the next step in their merger.  The acquisition by Bay Bancorp., Inc. of Hopkins Bancorp., Inc. and Hopkins Federal Savings Bank has been approved by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency.  The closing of the transaction is subject to various conditions, including approval by the stockholders of Hopkins Bancorp, Inc.  Subject to the satisfaction or waiver of those conditions, the parties expect to consummate the transaction no later than July 2016.

At that time, the Baltimore-based Hopkins Federal Savings Bank branches in Highlandtown and Pikesville will be rebranded with the Bay Bank name, although the Highlandtown branch will be consolidated with Bay Bank’s Highlandtown branch on July 25, 2016. After a system conversion in late July, all former Hopkins Federal Savings Bank customers will be able to transact business at any of Bay Bank’s 12 branches. Hopkins Federal Savings Bank business and consumer customers will also benefit from additional services, such as mobile banking and deposits, e-statements, robust online banking capabilities and remote deposit service. 

 “We’re excited to expand to the Pikesville market as a natural extension of our footprint. Bay Bank is committed to the same level of customer care Hopkins Federal Savings Bank customers are accustomed to, while also offering  new products and services to make their banking experience more convenient,” said Bay Bank President and CEO Joseph J. Thomas. “We have established a solid foundation as a premier community bank serving entrepreneurs in the Baltimore Washington corridor, and we look forward to continued growth, both organic and through acquisition.”

 Alvin Lapidus, chairman of Hopkins Federal Savings Bank, will serve as Bay Bank’s chairman emeritus, and will help ensure a successful transition and ongoing service to clients.  Once the transaction is closed, Bay Bank will have the fifth largest community bank deposit share in the Baltimore region with assets of approximately $650 million. Since its opening in 2010, Bay Bank has successfully acquired three other community banks—Bay National Bank, Carrollton Bank and Slavie Federal Savings Bank.

 
 About Bay Bank

 Bay Bank, FSB is headquartered in Columbia, Maryland, and serves the community with a network of 11 branches strategically located throughout the region. Founded in 2010, the bank has quickly developed a strong reputation for its focus on being the bank built by entrepreneurs, for entrepreneurs. The bank’s parent company, Bay Bancorp, Inc., trades on the NASDAQ Capital Market under the ticker symbol “BYBK.”

 Caution Regarding Forward-Looking Statements

 Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including, but not limited to, risks related to the satisfaction of the conditions to closing the acquisition in the anticipated timeframe or at all, including risks related to the failure to obtain necessary regulatory and Hopkins stockholder approvals and the possibility that the merger does not close, including in circumstances in which Hopkins would be obligated to pay Bay Bancorp, Inc. a termination fee or other expenses and vice versa; negative effects of this announcement or the consummation of the proposed acquisition on the market price of Bay Bancorp, Inc.’s common stock.  Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements.  Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made.  Bay Bancorp, Inc. and Hopkins expressly disclaim any current intention to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise. 

 Additional Information and Where to Find It

 In connection with the proposed merger, Hopkins will mail or otherwise provide to its stockholders a proxy statement regarding the proposed Merger.  BEFORE MAKING ANY VOTING DECISION, HOPKINS’ STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS THAT BAY BANCORP, INC. MAY FILE WITH THE SECURITIES AND EXCHANGE COMMISSION IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER AND THE PARTIES TO THE PROPOSED MERGER. 

 

Columbia, Md. (May 13, 2016) — Bay Bank, the bank built by entrepreneurs for entrepreneurs, announced today that Pat Killpatrick has joined the company as Relationship Manager and Vice President under the leadership of Todd Warren, Baltimore Market President and Senior Vice President.

Killpatrick, a veteran of the banking industry, will help to further expand Bay Bank’s presence in the Greater Baltimore market. Joining the team from banking offices in Lutherville, Killpatrick will be responsible for generating growth for Bay Bank among entrepreneurs and established business customers.

With 30 years of experience in the banking industry, Killpatrick has a proven track record of business development and helping customers find solutions to complex problems. He joins Bay Bank after three years at Sandy Spring Bank, where he most recently served as Vice President. His prior banking experience includes roles at Essex Bank, K Bank, LaSalle Business Credit, Inc., Provident Bank and Maryland National Bank.

“Patrick embodies the exceptional customer service and relationship management skills Bay Bank is known for among entrepreneurs in the Greater Baltimore Washington market,” said Warren. “We are thrilled to have him join our growing team and continuously show our customers what it means to have a strong banking partner.”

Killpatrick’s appointment is the latest in a series of growth announcements from Bay Bank, including the announcement of the Bank’s intention to acquire Hopkins Federal Savings Bank, the expansion of its business and commercial banking services and the relocation of its headquarters to Columbia. 

Killpatrick is also active in the Greater Baltimore community and currently serves as President of the Severna Park High School Athletic Boosters. He previously served as Co-Event Director for the Conquer Chiari Walk Across America, raising more than $60,000 to support research of Chiari Malformation.

About Bay Bank

Bay Bank, FSB is headquartered in Columbia, Maryland, and serves the community with a network of 11 branches strategically located throughout the region. Founded in 2010, the bank has quickly developed a strong reputation for its focus on being the bank built by entrepreneurs, for entrepreneurs. The bank has total assets of around $463 million. The bank’s parent company, Bay Bancorp, Inc., trades on the NASDAQ Capital Market under the ticker symbol “BYBK.”

Columbia, Maryland (April 28, 2016)- Bay Bancorp, Inc. ("Bay") (NASDAQ: BYBK), the savings and loan holding company for Bay Bank, FSB ("Bank"), announced today net income of $0.19 million or $0.02 per basic and diluted common share for the quarter ended March 31, 2016, compared to net income of $0.34 million or $0.03 per basic and diluted common share for the quarter ended March 31, 2015.  The pre-tax results for 2016 include $0.06 million of merger-related expenses related to the previously announced pending Hopkins Federal Savings Bank (“Hopkins Bank”) merger (the “Hopkins Merger”).

Commenting on the announcement, Joseph J. Thomas, President and CEO said, “We continued to invest in our franchise by hiring Todd Warren as Baltimore Market President and we achieved growth of new loans in the Bank’s originated portfolio at an 18.6% annualized pace in the first quarter of 2016.  However, our earnings were negatively impacted by a decline in net interest margin for the quarter ended March 31, 2016 to 4.20% from 4.73% for the same period of 2015 due to a decrease in net discount accretion recognized into income from acquired loans.  Our ongoing efficiency efforts continue in 2016 and for the three months ended March 31, 2016, noninterest expense was $5.3 million compared to $5.7 million for the same period of 2015.  The contributors to the decrease were broad based and would be even more substantial after considering the Hopkins Merger related expenses incurred in the first quarter 2016.  Core, pre-provision income, excluding accelerated accretion on acquired loans, provision for loan loss, intangible asset amortization and merger related expenses, was $0.84 million for the three months ended March 31, 2016 compared to $0.80 million for the same period of 2015.  We expect the approval and completion of the Hopkins Merger during the 2nd quarter of 2016 and are excited about the new client opportunities, additional scale, and enhanced earnings performance we will gain in the combination with Hopkins Bank.”

 

Highlights from the First Three Months of 2016


Bay focused on deposit costs and liquidity management over the quarter as Bay prepared for the Hopkins Merger balance sheet.  Partially related to the focus, deposits declined by $1.5 million for the three months ending March 31, 2016, when compared to December 31, 2015.  Bay’s capital position remains very strong with the capacity for both the Hopkins Merger and for future growth.  Total regulatory capital to risk weighted assets was 16.6% as of March 31, 2016.  The Bank has a proven record of success in acquisitions and acquired problem asset resolutions and, at March 31, 2016, had $9.0 million in remaining net purchase discounts on the acquired loan portfolios.


Specific highlights are listed below:

 

·   Total assets were $463 million at March 31, 2016 compared to $491 million at December 31, 2015 and decreased by $24 million from $487 million at March 31, 2015.

 

·   Total loans were $397 million at March 31, 2016, an increase of 0.9% from $393 million at December 31, 2015 and an increase of 1.4% from $392 million at March 31, 2015.

 

·   Total deposits were $366 million at March 31, 2016, a decrease of 0.4% from $367 million at December 31, 2015 and a decrease of 9.5% from $404 million at March 31, 2015.  Noninterest bearing deposits at March 31, 2016 were $98 million, a decrease of 3.7% from $101 million at December 31, 2015.

 

·   Net interest income for the three months ended March 31, 2016 totaled $4.7 million compared to $5.3 million for the same period of 2015.  Interest income associated with discount accretion on purchased loans, deferred costs and deferred fees will vary due to the timing and nature of loan principal payments and nonperforming loan resolutions.  The decrease in net discount accretion income was the primary driver of year-over-year results, declining $0.6 million as Bay transitions interest income reliance to the core balance sheet and ongoing net earnings growth. 

 

·   Net interest margin for the three months ended March 31, 2016 was 4.20%, compared to 4.73% for the same period of 2015.  The margin for the first quarter of 2016 reflects the variable pace of net discount accretion recognized within interest income and the impact of fair value amortization on the interest expense of acquired deposits.  For the quarter ended March 31, 2016, the earning asset portfolio yield was influenced by a $0.60 million decline in net discount accretion of purchased loan discounts recognized in interest income.  The net interest margin declined 0.53% during the quarter compared to a year earlier, nearly all related to loan and deposit accretion fluctuations.

 

The return on average assets for the three months ended March 31, 2016 was 0.16%, as compared to 0.43% and 0.29% for the three months ended December 31, and March 31, 2015, respectively.  The return on average equity for the three months ended March 31, 2016 was 1.11% compared to 3.10% and 2.08% for the three months ended December 31, and March 31, 2015, respectively.

 

·   Nonperforming assets decreased to $9.7 million at March 31, 2016, from $10.3 million at December 31, 2015 and from $15.6 million at March 31, 2015.  The decrease resulted from the Bank’s consistent resolution of acquired nonperforming loans from previous acquisitions.

 

·   The provision for loan losses for the three months ended March 31, 2016 was $298,000, compared to $275,000 for the same period of 2015.  The increase for the 2016 period was primarily the result of an increase in loan originations and adjustments in certain qualitative factors.  As a result, the allowance for loan losses increased to $1.95 million at March 31, 2016, representing 0.49% of total loans, compared to $1.77 million, or 0.45% of total loans, at December 31, 2015.  Management expects both the allowance for loan losses and the related provision for loan losses to increase in the future periods due to the reduction in the accretion of the discount on the acquired loan portfolios and an increase in new loan originations.

 

Stock Repurchase Program

 

During 2015, Bay purchased 170,492 shares of its common stock, at an average price of $5.03 per share, pursuant to the stock purchase program that the Board of Directors approved on July 30, 2015.  The program authorized Bay to purchase up to 250,000 shares of its common stock over a 12-month period in open market and/or through privately negotiated transactions, at Bay’s discretion.  During the first quarter of 2016, Bay purchased 79,508 shares of its common stock pursuant to the stock purchase program at an average price of $4.91 per share.  Also during the first quarter of 2016, the Board of Directors authorized an additional stock purchase program, authorizing Bay to purchase an additional 250,000 shares of its common stock over a 12-month period in open market and/or through privately negotiated transactions, at Bay’s discretion.  As of March 31, 2016, Bay has repurchased 95,492 shares under this authorization at an average price of $4.95 per share.  The Board may modify, suspend or discontinue the program at any time.

 

Balance Sheet Review

 

Total assets were $463.4 million at March 31, 2016, a decrease of $27.7 million, or 5.6%, when compared to December 31, 2015.  Cash and interest bearing deposits decreased by $19.7 million or 57.1%, when compared to December 31, 2015 as the bank reduced wholesale short-term borrowings, while investment securities available for sale decreased by $8.3 million or 25.0%, over the same period.  Loans held for sale decreased by $1.3, million or 26.8%, during the quarter ended March 31, 2016 and were offset by a $3.6 million, or 0.9%, increase in loans held for investment.

 

Total deposits were $365.9 million at March 31, 2016, a decrease of $1.5 million, or 0.4%, when compared to December 31, 2015.  The decrease was primarily the result of a $3.8 million, or 3.7%, decrease in non-interest bearing accounts.  The decrease in assets resulted in a $26.0 million decrease in short-term borrowings over the quarter.

 

Stockholders’ equity decreased to $66.9 million at March 31, 2016 from $67.7 million at December 31, 2015 and increased from $65.7 million at March 31, 2015.  The decrease since December 31, 2015 related to the ongoing stock repurchase program and a $0.1 million decrease in Accumulated Other Comprehensive Income offset by corporate earnings.  The book value of Bay’s common stock improved to $6.15 per share at March 31, 2016, compared to $6.12 per share at December 31, 2015.

 

Nonperforming assets, which consist of nonaccrual loans, troubled debt restructurings, accruing loans past due 90 days or more, and real estate acquired through foreclosure, decreased to $9.7 million at March 31, 2016 from $10.3 million at December 31, 2015.  The decrease related primarily to decreases in nonaccrual loans and troubled debt restructurings.  Nonperforming assets represented 2.1% of total assets at March 31, 2016, which, due to lower reported assets, was unchanged from December 31, 2015. 


At March 31, 2016, the Bank remained above all “well-capitalized” regulatory requirement levels.  The Bank’s tier 1 risk-based capital ratio was 16.20% at March 31, 2016 as compared to 16.14% at December 31, 2015 and 16.22% at March 31, 2015.  Liquidity remained strong due to managed cash and cash equivalents, borrowing lines with the FHLB of Atlanta, the Federal Reserve and correspondent banks, and the size and composition of the investment portfolio.



Review of Financial Results

Net income for the three months ended March 31, 2016 was $0.19 million compared to net income of $0.34 million for the same period of 2015.  Individual categories reflect variability between years. 

 

Net interest income decreased by $0.6 million for the quarter ended March 31, 2016 when compared to the same period of 2015.  The decrease was the result of a $0.6 million decrease in net discount accretion recognized into income when compared to the same period of 2015.  Excluding the net discount accretion impact, Bay was able to offset decreases in earning asset yield, with a reduction in deposit costs due to pricing discipline and a favorable change in deposit mix and effective utilization of short-term wholesale funding alternatives.  The net interest margin for the quarter ended March 31, 2016 decreased to 4.20% from 4.73% for the same period of 2015.  As of March 31, 2016, the remaining net loan discounts on the Bank’s acquired loan portfolio totaled $9.0 million.

Noninterest income for the three months ended March 31, 2016 was $1.2 million compared to $1.2 million for the same period of 2015.  A $0.24 million net decrease in mortgage banking fees and gains were offset by a $0.2 million increase in gains on security sales and redemptions during the quarter ended March 31, 2016.  Expectations are for increased mortgage banking fees and gains to expand throughout 2016.

Noninterest expense reduction continues as a key focus for 2016 net income improvement.  For the three months ended March 31, 2016, noninterest expense was $5.3 million compared to $5.7 million for the same period of 2015.  The contributors to the decrease when compared to the quarter ended March 31, 2015 were broad based and led by decreases of $0.12 million in occupancy and equipment expenses, $0.06 million in loan collection costs, $0.06 million in data processing and item processing services and a $0.06 million in core deposit intangible amortization.  The decrease is more substantial after consideration that 2016 contains $0.06 million in Hopkins Merger related expenses.

 

Bay Bancorp, Inc. Information


Bay Bancorp, Inc. is a financial holding company and a savings and loan holding company headquartered in Columbia, Maryland.  Through Bay Bank, FSB, its federal savings bank subsidiary, Bay Bancorp, Inc. serves the community with a network of 11 branches strategically located throughout the Baltimore Metropolitan Statistical Area, particularly Baltimore City and the Maryland counties of Baltimore Washington corridor.  The Bank serves small and medium size businesses, professionals and other valued customers by offering a broad suite of financial products and services, including on-line and mobile banking, commercial banking, cash management, mortgage lending and retail banking.  The Bank funds a variety of loan types including commercial and residential real estate loans, commercial term loans and lines of credit, consumer loans and letters of credit.  Additional information is available at www.baybankmd.com.

 

Forward-Looking Statements


The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management's current expectations and beliefs concerning future developments and their potential effects on the Company.  Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company.  There can be no assurance that future developments affecting the Company will be the same as those anticipated by management.  These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions.  Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true.  These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements.  For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Bay Bancorp, Inc. with the Securities and Exchange Commission entitled “Risk Factors”, as well as the cautionary statements contained in the other reports and documents that Bay Bancorp, Inc. files with or furnishes the SEC.

For investor inquiries contact:


           Joseph J. Thomas, President and CEO

410-536-7336

jthomas@baybankmd.com

7151 Columbia Gateway Drive,

Suite A

Columbia, MD 21046

 

For further information contact:

Larry D. Pickett, Chief Financial Officer

410-312-5415

lpickett@baybankmd.com

7151 Columbia Gateway Drive,

Suite A

Columbia, MD 21046

Columbia, Md. (April 6, 2016) — Bay Bank, the bank built for entrepreneurs by entrepreneurs, announced today that Todd Warren has joined the company in the newly established role of Baltimore Market President and Senior Vice President.

Warren, a well-known veteran of the banking industry, will lead the effort to further expand Bay Bank’s presence in the Greater Baltimore market. Managing a team of commercial lenders from banking offices in Lutherville, Warren will be responsible for generating growth for Bay Bank among entrepreneurs and established business customers.

With nearly 20 years in the banking industry, Warren has distinguished himself as a professional best known for finding innovative solutions to complex customer issues. He joins Bay Bank after six years at Sandy Spring Bank, where he most recently served as Senior Vice President and Senior Relationship Manager. His prior banking experience includes leadership and lending roles at K Bank, Susquehanna Bank and Bank of America.

“Todd’s deep knowledge of the Baltimore market, his innovative approach to solving problems and his professional commitment to ensure customer success make him a perfect fit for Bay Bank,” said Joe Thomas, Bay Bank President and CEO. “He is a proven leader with a track record of success and growth. Our team is pleased to have him in this key role to drive banking solutions and build lead relationship with entrepreneurs in the Baltimore market.”

Warren’s appointment is the latest in a series of growth announcements from Bay Bank, including the acquisition of Hopkins Bank, the expansion of its business and commercial banking services and the relocation of its headquarters to Columbia. 

“I’m thrilled to join a thriving company like Bay Bank,” said Warren. “As a community bank, we have a great opportunity to make a real impact on the business community in Baltimore, finding smart solutions for entrepreneurial customers throughout the metro region.”

Warren is also active in the Greater Baltimore community and has served on the boards of organizations including Star-Spangled Banner Flag House, Academy of Finance for Baltimore County Schools and Center for Progressive Learning. He is also the first district representative on the planning board for Baltimore County.

About Bay Bank

Bay Bank, FSB is headquartered in Columbia, Maryland, and serves the community with a network of 11 branches strategically located throughout the region. Founded in 2010, the bank has quickly developed a strong reputation for its focus on being the bank built by entrepreneurs, for entrepreneurs. The bank has total assets of around $480 million. The bank’s parent company, Bay Bancorp, Inc., trades on the NASDAQ Capital Market under the ticker symbol “BYBK.”

 

Columbia, Md. (March 14, 2016) — Bay Bank, the bank built by entrepreneurs for entrepreneurs, announced today that Gregory Manuel has joined the company as vice president and commercial real estate relationship manager.

Manuel comes to Bay Bank with 30 years of experience in the banking industry, having held several leadership positions at Susquehanna Bank, BBVA Compass Bank and Northwest Savings Bank. He has a long history in the greater Baltimore region managing large commercial real estate portfolios and working with commercial real estate developers, investors and residential home builders.  Manuel’s extensive expertise in this segment allows him to assess complex credits and structure loans to benefit the needs of the borrower.

In his new role, he will be under the leadership of George D. Decker, a 40 year veteran in the commercial banking industry in the greater Baltimore Metro area. Manuel will be responsible for revenue growth by developing, growing and managing a profitable commercial real estate portfolio.

“Greg’s professional experience and extensive background in Commercial Real Estate and Commercial Lending is a great asset to the bank,” said George Decker, Senior Vice President and Commercial Real Estate Manager.  “He has a proven track record of developing new business and is well suited for this position.  We are happy to have him here at Bay Bank as we continue to grow our commercial real estate presence in the region.”

Manuel is an active member of RMA.  He holds a Bachelor’s of Science degree from the University of Baltimore.

Manuel will be serving these markets from the Bank’s Lutherville office located at 2328 West Joppa Road.

This recent hire is the latest in a series of growth announcements from Bay Bank, including their intent to acquire Hopkins Federal Savings Bank, expanding its business and commercial banking services and hiring key positions within the organization to further promote growth.

About Bay Bank

Bay Bank, FSB is headquartered in Columbia, Maryland, and serves the community with a network of 11 branches strategically located throughout the region. Founded in 2010, the bank has quickly developed a strong reputation for its focus on being the bank built by entrepreneurs for entrepreneurs. The bank has total assets of around $491 million. The bank’s parent company, Bay Bancorp, Inc., trades on the NASDAQ Capital Market under the ticker symbol “BYBK.”