Howard Bancorp, Inc. Announces Second Quarter 2007 Profit and Growth Results.

ELLICOTT CITY, Md. -- Howard Bancorp, Inc. (OTC, Electronic Bulletin Board:HBMD), the parent company of Howard Bank, today announced net income of $16 thousand for the second quarter of 2007. The second quarter net income compares to a $116 thousand loss recorded in the first quarter of 2007. On a year-to-date basis, Howard Bancorp's net loss of $100 thousand reflects an 80% improvement over the $520 thousand loss reported for the first six months of 2006. Revenues rose 38% for the six month period ending June 30, 2007 as compared to June 30, 2006, significantly outpacing the 17% increase in non-interest expenses over the same period. The revenue growth was primarily attributable to gains in net interest income resulting from continued balance sheet growth. Total assets grew to $167 million as of June 30, 2007, a 37% increase compared to the same period in 2006. Total loans increased by 52% ending at $147 million at the end of the second quarter of 2007 versus loans of $97 million at June 30, 2006. The loan growth was funded substantially with deposits and other customer funds. Total deposits grew by 39%, with June 30, 2007 deposits of $138 million compared to deposits of $99 million at June 30, 2006. The 17% increase in non-interest expenses for the six months of 2007 versus 2006 was primarily attributable to the operating expenses associated with a third branch location which opened in late September of 2006.

For the first time since it commenced operations in 2004, Howard Bank placed a loan into non-accrual status. The loan in question is a $2.8 million land development loan. Despite the property's location in an attractive market, the bank has determined it is prudent, given the recent downturn in the local real estate market, to independently re- evaluate the sufficiency of the collateral value under various scenarios. The bank is presently awaiting the results of those evaluations.

Chairman and CEO Mary Ann Scully stated: "We are pleased with our financial results thus far for 2007. Strong loan demand from our target market of local small and medium sized businesses continues to drive our balance sheet growth. In a notably difficult funding environment, our ability to fund this asset growth by growing deposits through our branches, and not having to rely on external borrowings, which generally have both a higher cost and less strategic value is significant. As a result, our increase in revenues, coupled with managing and leveraging our existing infrastructure, allowed us to overcome the incremental increase in costs of our third branch, and report this return to profitability for the second quarter of 2007.

We continue to focus on credit quality as well as quantity. Deterioration of some small percentage of seasoned credits is inevitable in a real estate market returning to normalcy and the combination of knowledgeable underwriting with proactive management of relationships should serve us well in this challenging environment.

In addition to our financial performance, we are also honored to have been named "Small Business of the Year" by the Maryland Chamber of Commerce in its 6 - 50 employee category. The award is designed to honor the dedication, innovation and entrepreneurial spirit displayed by small businesses in Maryland. We are also very proud of the recognition received in the community by several associates as well as the promotion of several associates into leadership roles on the boards of various charitable and civic organizations, all reflecting Howard Bancorp's successful integration into the communities we serve.

Howard Bancorp and Howard Bank have been able to navigate through a compressed and inverted interest rate cycle, ever increasing competitive and regulatory pressures, and continued change in the local banking providers through merger/acquisition activities to become a recognized leader as Howard County's only locally owned and locally managed financial institution. We are proud that customers and the community have embraced our commitment to combine a competitively broad suite of products and services with a much higher level of personalized and experienced advice than is available elsewhere."

This press release contains statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or the Securities and Exchange Commission in its rules, regulations, and releases. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors, including but not limited to real estate values, local and national economic conditions, and the impact of interest rates on financing. 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 Company or any other person that results expressed therein will be achieved. The Company does not undertake, and specifically disclaims 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.

Additional information is available at www.howardbank.com.

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