Printer Friendly

ALAN M. LEBERKNIGHT TO BECOME CEO OF THE BANK OF BALTIMORE; EDWIN F. HALE, SR. WILL BE CEO OF BALTIMORE BANCORP

 ALAN M. LEBERKNIGHT TO BECOME CEO OF THE BANK OF BALTIMORE;
 EDWIN F. HALE, SR. WILL BE CEO OF BALTIMORE BANCORP
 BALTIMORE, Aug. 19 /PRNewswire/ -- The Board of Directors of Baltimore Bancorp (NYSE: BBB) announced today that Alan M. Leberknight, President and Chief Operating Officer of both Baltimore Bancorp and its principal subsidiary, The Bank of Baltimore, has been selected to become President and Chief Executive Officer of The Bank of Baltimore and will continue as President of Baltimore Bancorp. Edwin F. Hale, Sr., Chairman of the Board, will become Chief Executive Officer of Baltimore Bancorp.
 Both appointments will become effective following the retirement of
C.H. "Buck" Whittum, Jr., which is expected in September 1992. Whittum currently holds the CEO titles and is a member of the Board of Directors of both Baltimore Bancorp and The Bank of Baltimore. He will remain on both Boards and will serve as Chairman of the Loan Portfolio Review Committee, which oversees lending policies and activities with special emphasis on classified assets.
 Hale said, "Buck Whittum has been instrumental in Baltimore Bancorp's sharp turnaround this past year, and we were indeed fortunate that he was willing to contribute his experience and skills to help guide us through this critical transition. His leadership and management expertise have not only improved our financial performance, but also have raised the morale and attitude of the Bank's employees.
 Whittum commented, "Following our victory in last year's proxy contest, I agreed to come out of retirement and become the Chief Executive Officer on an interim basis. Now that we have recorded two consecutive profitable quarters in a difficult economy, have reached agreements with bank regulators, and have hired a number of good senior managers, I believe that my short-term goals for the Bank have been achieved. I knew Al Leberknight long before he joined us last year and take great comfort in leaving the Bank in his capable hands and those of his management team. I'm pleased to have the opportunity to continue serving the Bank after Al takes over."
 "Al Leberknight," Hale continued, "has worked closely with Buck and me since joining us last November and has been another significant factor in the Bank's turnaround. Al has consistently displayed the ability to rapidly implement new policies from the many difficult decisions the Board had to make in order to return the Bank to profitability. His promotion to Chief Executive Officer and his appointment to the Board of Directors last month are well-deserved."
 Leberknight said, "My first nine months at the Bank have been as challenging as I expected when I agreed to join last year. Now, with the Bank back on a profitable track, I look forward to expanding the initiatives that the new Board has set in working out problem assets, increasing our focus on customer service and becoming more involved with the Baltimore community."
 Both Leberknight's and Hale's appointments are subject to clearance by the Bank's regulators, which is expected prior to Whittum's retirement.
 Before joining Baltimore Bancorp in November 1991, Leberknight, 50, was Executive Vice President, Commercial Banking, at Signet Bank Maryland and Senior Vice President of its predecessor, Union Trust Company of Maryland, which he joined in 1981. Before that, he was an executive with Commercial Credit Business Loans, Inc. for 10 years, most recently as Regional Vice President in charge of business loans in the
Baltimore region. Prior to that, he was an officer with First National


Bank of Maryland.
 Leberknight earned a B.S. in Business Education in 1964 from Indiana University of Pennsylvania and an MBA in Finance in 1972 from Loyola College in Baltimore.
 Married for 23 years to the former Jean Nygren, Leberknight has two sons, Scott, 18, and Jon, 15. Leberknight and his family make their home in Baldwin, Md. He is active in civic and educational affairs as a member of Baltimore County's School Board and its Executive Advisory Board on Higher Education, the Foundation Board of Catonsville Community College and the Advisory Board of the Academy of Finance in Baltimore City.
 Baltimore Bancorp is a $2.9 billion Baltimore-based bank holding company. Its principal subsidiary, The Bank of Baltimore, founded in 1818, operates 49 branches within the Baltimore-Washington Common Market.
 -0- 8/19/92
 /CONTACT: David L. Spilman, treasurer, director of Investor Relations of Baltimore Bancorp, 800-722-8823/
 (BBB) CO: Baltimore Bancorp; The Bank of Baltimore ST: Maryland IN: FIN SU: PER


JS -- PH017 -- 1448 08/19/92 15:48 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 19, 1992
Words:745
Previous Article:CHIPPEWA RESOURCES ANNOUNCES RESULTS
Next Article:MCDONNELL DOUGLAS MISSLE SYSTEMS CO. NAMES VICE PRESIDENTS
Topics:


Related Articles
BALTIMORE BANCORP NAMES NEW CHIEF FINANCIAL OFFICER
BALTIMORE BANCORP TELLS STOCKHOLDERS TO LOOK FOR CONTINUED PROFITABILITY
BALTIMORE BANCORP REPORTS INCREASED EARNINGS; SIGNS AGREEMENT AND ORDER WITH REGULATORS
BALTIMORE BANCORP RAISES ADDITIONAL CAPITAL; REPORTS INSIDER BUYING AND CONCLUSION OF BANK EXAMINATION
BALTIMORE BANCORP TELLS STOCKHOLDERSOF PLANS TO BE 'WELL CAPITALIZED' BY SEPT. 30
BALTIMORE BANCORP REINSTATES CASH DIVIDEND
BALTIMORE BANCORP TO BE RELEASED FROM REGULATORY ORDER AND AGREEMENT
FIRST FIDELITY TO ACQUIRE BALTIMORE BANCORP FOR $346 MILLION IN CASH
FIRST FIDELITY COMPLETES ACQUISITION OF BANK OF BALTIMORE, WILL BE OPERATING ONE BANK IN FOUR STATES
First Maryland Bancorp Announces Changes in Pennsylvania's Southern Division

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters