BALTIMORE (WJZ) — Howard Bancorp has been given approval to acquire First Mariner Bank, the Federal Reserve Board announced Monday.
The Ellicott City-based company is now able to move forward with the $163.4 million deal. The Federal Deposit Insurance Corp. approved the bank merger on Jan. 31.
The go-ahead clears the way for Howard to become the biggest Baltimore-based bank since Mercantile Bankshares, according to the Baltimore Business Journal.
The approval moves Howard to the No. 7 spot in the Greater Baltimore market, BBJ reports.