The Harbor Bank of Maryland
Harbor Bank of Maryland opened its doors in September of 1982 with $2.1 million in assets. As of December 31, 2016, Harbor Bank's assets were $254 million. The bank conducts general banking business in seven branch locations and primarily serves the Baltimore, Maryland Metropolitan area. The Bank also has a branch in Riverdale, Prince George’s County, Maryland. The Harbor Bank offers checking, savings, time deposits, credit cards, debit card, commercial real estate, personal, home improvement, automobile, and other installment and term loans. The Bank is also a member of a local and national ATM network. The retail nature of the Bank allows for diversification of depositors and borrowers so it is not dependent upon a single or a few customers. The bank is proud of being the first community bank in the country to have an Investment Subsidiary, Harbor Financial Services.
Harbor Bank’s Mortgage Department was the first in the State of Maryland to receive Fannie Mae funding under the Community Development Financial Institution (CDFI) Program.
John Lewis has more than 22 years of experience in the financial services industry and works as the Executive Vice President & Chief Administrative Officer for The Harbor Bank of Maryland. As such, Lewis is aptly prepared to offer crucial insights regarding the new 2018 investing incentives created by the Tax Cuts and Jobs Act. In this article, Lewis speaks specifically towards the topic of Opportunity Zones.
Maryland has the highest representation of minority and women-owned businesses in the nation. However, those enterprises suffer disproportionately from being denied access to funding. And when they do access capital, much less is typically offered at higher interest rates, according to the U.S. Department of Commerce Minority Business Development Agency. How do we address this? Well, John Lewis, Executive Vice President of the Harbor Bank of Maryland, testified recently to the Senate that "community banks are the solution as they are essential to small business asset development."
The Harbor Bank of Maryland Community Development Corporation dedicated the Joseph Haskins, Jr. Center for Community and Economic Development on Thursday. The center, named for the bank’s founder, chairman, president and CEO, will offer several programs designed to address Baltimore entrepreneurs’ need for access to financial and social capital, as well as technical assistance, to help them grow. It also will provide entrepreneurs low-cost office space and access to resources, networks and other amenities. While the center serves all Baltimore communities, it will emphasize job creation in disinvested and low- to moderate-income areas.