First Maryland Bancorp

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First Maryland Bancorp
Industry Banking
Founded1806;219 years ago (1806) as Mechanics Bank of Baltimore
Defunct2003;22 years ago (2003)
Total assets $18.3 billion (2001) [1]
Number of employees
6,000 [1]

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.

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. 1 2 3 4 5 6 7 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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