The Patapsco Bank is a true community bank. We're rooted in a tradition of service, but forward-thinking to deliver the technology and services needed to succeed today.
We were founded in 1910 in a blacksmith shop with investments from ten local farmers. That hard-working ethos has always inspired our drive to provide you the best financial partner you deserve.
As Baltimore has grown, we've been there to meet the needs of local families and businesses. From home mortgages to small business loans, we've always kept our focus on building Main Street.
We look forward to exceeding your expectations, by delivering on the advantages you can only get from a true, local community bank.
More About Our History
- The Patapsco Bank's predecessor, Patapsco Building and Loan Association, was founded almost a decade before the town of Dundalk was created.
- The first loan application, for $1,300, was funded by deposits of $130 each from the founding ten directors, who were local farmers.
- From 1911 to 1919, the Bank met in Tolson's Store, located at Dundalk and Holabird Avenues.
- In 1919, the Association constructed its first office building, which was moved approximately one-half block west of Holabird Avenue in 1929.
- In the summer of 1952, the Bank erected a new office building at 6730 Holabird Avenue, which is one block east of Dundalk Avenue.
- In October of 1970, the Bank moved into its present headquarters location at 1301 Merritt Boulevard.
- Until 1957 Patapsco was only open on Monday evenings and Friday mornings. At that time a Federal Charter was granted, the name was changed to Patapsco Federal Savings and Loan Association, its deposit accounts were insured up to $10,000 each and the Bank began opening on a full time basis.
- By 1996 the organization had formed a holding company (Patapsco Bancorp, Inc.) and completed its Initial Public Offering (IPO) to convert the Company from a mutual organization to a stock, publicly traded company, raising more than $7,250,000. Patapsco Bancorp, Inc.'s stock (trading symbol-PATD) began trading on the "Pink Sheets" on April 2, 1996. After consideration for a special return of capital and various stock dividends and stock splits, investors who bought Patapsco at the IPO had a cost basis in their stock of $1.82.
- In addition to this stock valuation, other notable events are:
- September 30, 1996 - Patapsco Federal Savings and Loan Association converted to The Patapsco Bank, a state chartered commercial bank and a member of the Federal Reserve Bank.
- March, 2000 - Patapsco Bank formed Patapsco Financial Services, offering non-deposit investments. Patapsco Financial Services is not currently actually offering non-deposit investments but we are seeking to be able to provide these services in the future.
- Patapsco Bancorp, Inc. acquired Northfield Savings Bank with two offices located in Parkville in November 2000.
- The next acquisition was Parkville Federal Savings Bank, with offices in Parkville, Hampden and Glen Arm in April of 2004.
- The Patapsco Bank relocated an office to a newly constructed two-story building in Waltham Woods at 2028 E. Joppa Road. This building also houses our business and personal loan departments
Today, The Patapsco Bank continues to serve Baltimore County, Baltimore City and surrounding communities from our four convenient branch locations.