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.
| Industry | Banking |
|---|---|
| Founded | 1806 as Mechanics Bank of Baltimore |
| Defunct | 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
editThe 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
edit- ^ a b c d e f g Arney, June (February 7, 2002). "Bank's roots in Maryland reach to early 19th century". The Baltimore Sun.
- ^ "Allied Irish Banks to buy First Maryland Bancorp". United Press International. December 6, 1988.
- ^ "First Maryland Bancorp to gobble Dauphin Deposit". American City Business Journals. January 21, 1997.
- ^ "First Maryland to Acquire Dauphin". Los Angeles Times. January 22, 1997.
- ^ Atkinson, Bill (April 15, 1999). "First Maryland to be Allfirst Financial". The Baltimore Sun.
- ^ Patalon III, William (April 2, 2003). "Allfirst's sale to M&T Bank is completed". The Baltimore Sun.