Robert A. Altieri to Join Howard Bank

April 22, 2013

Company Release - 04/22/2013 01:05
ELLICOTT CITY, Md.--(BUSINESS WIRE)

Howard Bancorp, Inc. (Nasdaq: HBMD), the parent company of Howard Bank (the “Bank”), reported that Howard Bank is very pleased to announce that 25 year banking veteran Robert A. Altieri will join the bank as President of the Mortgage Division, Executive Vice President of Howard Bank and Head of Specialty Lending.

Mr. Altieri will join the Howard Bank team in late April. He was most recently Chief Executive Officer and President of Carrollton Bancorp, Carrollton Bank, Carrollton Mortgage Services, Inc. and Carrollton Community Development Corporation where he led each entity over a twelve-year period, prior to the recent acquisition of Carrollton Bank.

Mary Ann Scully, Howard Bank CEO and President stated "Howard Bank has consistently and successfully focused on profitable growth. We continue to gain share in the southern portion of Greater Baltimore in Howard and Anne Arundel counties and are in the midst of a physical and team expansion into Baltimore city, and Baltimore County, where we expect to open a branch in downtown Towson later this year. We most recently announced an agreement, subject to regulatory approval, to purchase a branch in Harford County from Cecil Bank.

Bob's deep executive experience, his unique understanding of the mortgage market from both a banking and a mortgage company perspective and his broad and deep connections to the Greater Baltimore area will make him an invaluable asset to Howard Bank. We are very fortunate to have someone with his knowledge and experience on board. The combination of the existing team at Howard Bank, the addition of Bob Altieri, along with our recent addition of Frank Turner, another long time and well respected Baltimore banker positions us very well to not only continue our growth, and to accelerate the pace of our expansion in both size and into new geographic areas but to significantly broaden our product set and diversify our revenue stream. We are all excited by the opportunities ahead of us."

Mr. Altieri commented "I am excited about joining Howard Bank and their management team. Over a short time, they have demonstrated their ability to carry out a strategic plan to build the premier community bank in the Baltimore Metropolitan Area and the future is bright for continued organic growth and strategic acquisitions. I have no doubt Howard Bank will be viewed as the premier community bank in our marketplace."

This statements in this press release regarding our anticipated opening of a branch in Towson, the Bank's anticipated growth, potential acquisitions and expansion, including into new geographic areas, and broadening the Bank's product set and diversifying its revenue stream, are forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 or the Securities and Exchange Commission in its rules, regulations, and releases. We intend that such forward-looking statements be subject to the safe harbors created thereby. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, the risk of not receiving any required regulatory approvals, unexpected changes in real estate values and local and national economic conditions, unexpected changes in interest rates, and changes in laws or government regulations or policies affecting financial institutions. Accordingly, actual results may differ from those expressed in the forward-looking statements, and the making of such statements should not be regarded as a representation by the Bank or Howard Bancorp, Inc. that results expressed therein will be achieved. We do not undertake, and specifically disclaim any obligation, to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Howard Bancorp, Inc.
George C. Coffman, Chief Financial Officer, 410-750-0020

Source: Howard Bancorp, Inc.