First Maryland Bancorp

First Maryland Bancorp was a bank holding company that operated the First National Bank of Maryland. The company changed its name to Allfirst Financial in 1999 and was acquired by M&T Bank in 2003.

First Maryland Bancorp
IndustryBanking
Founded1806 (1806) as Mechanics Bank of Baltimore
Defunct2003 (2003)
Total assets$18.3 billion (2001)[1]
Number of employees
6,000[1]

The company operated 250 branches and more than 575 automated teller machines in Maryland, Pennsylvania, Washington D.C., Northern Virginia, and Delaware.[1]

History

The bank was founded in 1806 as Mechanics Bank of Baltimore.[1]

In 1864, it established First National Bank of Maryland.[1]

In 1983, Allied Irish Banks made an investment in the company.[1]

In 1988, Allied Irish Banks acquired the portion of the company that it did not already own.[2][1]

In 1997, the company acquired Dauphin Deposit Corporation for $1.36 billion.[3][4]

In 1999, the company changed its name to Allfirst Financial.[5]

In 2003, M&T Bank acquired the company.[6]

References
  1. Arney, June (February 7, 2002). "Bank's roots in Maryland reach to early 19th century". The Baltimore Sun.
  2. "Allied Irish Banks to buy First Maryland Bancorp". United Press International. December 6, 1988.
  3. "First Maryland Bancorp to gobble Dauphin Deposit". American City Business Journals. January 21, 1997.
  4. "First Maryland to Acquire Dauphin". Los Angeles Times. January 22, 1997.
  5. Atkinson, Bill (April 15, 1999). "First Maryland to be Allfirst Financial". The Baltimore Sun.
  6. Patalon III, William (April 2, 2003). "Allfirst's sale to M&T Bank is completed". The Baltimore Sun.
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