2002 BE banks. (Newsbytes).* Harbor Bankshares Corporation, the parent company of The Harbor Bank of Maryland (No. 10 on the 2002 BE BANKS list with $186.59 million in total assets), has formed two new subsidiaries designed to spur economic development in the greater Baltimore--Washington, D.C. metropolitan area: a nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. community development corporation (CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation ) and a specialty finance company designed to bring private sector investments to the urban market place. The not-for-profit subsidiary will operate as Harbor Bank of Maryland Community Development Corp. The for-profit unit, established in conjunction with Baltimore City's Mayor's Office and Empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems Baltimore Management Corp., is a community-development entity, or CDE (1) (Computer Desktop Encyclopedia) What you are reading at this very moment. See About this product. (2) (Common Desktop Environment) A user interface for desktop computing from The Open Group. , and will operate as Harbor Bank of Baltimore For other banks with similar name see: Bank of Baltimore (disambiguation) The Bank of Baltimore was chartered in 1795 with $1,200,000 capital in the city of Baltimore, Maryland. Metropolitan Area Development L.L.C. With the CDC and CDE subsidiaries, Harbor will be able to raise private capital from companies, banks, foundations, and other civic organizations without the restrictions placed upon banks. The CDE will also take advantage of the New Markets Tax Credit, a program that grants tax breaks for those who invest in disadvantaged communities. |
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