Howard Bank Acquires Aberdeen Branch of Cecil Bank

There's a new bank in Aberdeen—and it's a newcomer to Harford County too.

Since the spring, a deal has been in the works between Howard Bank and Cecil Bank regarding the Cecil Bank branch at 3 W. Bel Air Ave. in Aberdeen.

As of Aug. 19, the location was officially a Howard Bank branch.

"This transaction, which will involve approximately 10 percent of our deposits," allows Cecil Bank to "concentrate on our core markets," Mary Halsey, vice chair and COO of Cecil Bank, said in a prepared statement.

Now, Cecil Bank's locations are entirely concentrated in Cecil County, with the exception of one branch in Havre de Grace. In fall 2012, Cecil Bank shuttered what had been its second location in Havre de Grace.

As Cecil Bank retreats from Harford County, Howard Bank looks to expand.

The Aberdeen branch marks the first foray into Harford County for Howard Bank, and it may not be the last.

"We are presently seeking to expand our commitment to the county by searching for an additional location in the Bel Air marketplace," Mary Ann Scully, president and CEO of Howard Bank, said.

In the Aberdeen deal, Howard Bank acquired $37.1 million in loans and $35.2 million in deposits from Cecil Bank's Aberdeen branch, according to a press release. 

Services transitioned over the weekend, including computer systems and check cards, according to Howard Bank. Clients with questions about the transition should call customer service at the Aberdeen branch of Howard Bank at 410-272-6500.