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BALTIMORE BANCORP REINSTATES CASH DIVIDEND

 BALTIMORE, Nov. 17 /PRNewswire/ -- Baltimore Bancorp (NYSE: BBB) (the "Company"), parent company of The Bank of Baltimore, today declared a quarterly cash dividend of $.05 per share payable Dec. 29, 1993, to holders of record Dec. 15.
 This is the first cash dividend to be declared since dividends were suspended after the third quarter of 1991. The dividend will be paid using the Company's own funds and will not involve any upstreaming of funds from The Bank of Baltimore. The declaration and payment of this dividend has received all required regulatory approvals. Although there can be no assurance as to the amount and frequency of possible future dividend payments, it is the Company's intention to pay regular quarterly dividends subject to regulatory approvals and continued financial progress.
 Edwin F. Hale Sr., chairman and chief executive officer, said, "The board of directors has fulfilled a pledge to stockholders by reinstating a cash dividend at the earliest possible opportunity. We want this to be an unmistakable message about the Company's rapidly improved financial condition and its prospects for the future. We expect further progress in the current quarter and in 1994, and it's time to share the results with our investors."
 Baltimore Bancorp is a $2.3 billion Baltimore-based community bank holding company. Its principal subsidiary, The Bank of Baltimore, founded in 1818, operates 43 branches in the Baltimore/Annapolis/ Washington market.
 -0- 11/17/93
 /CONTACT: David L. Spilman, treasurer and director of investor relations of Baltimore Bancorp, 800-722-8823/
 (BBB)


CO: Baltimore Bancorp ST: Maryland IN: FIN SU: DIV

LJ -- PH008 -- 5361 11/17/93 10:12 EST
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Publication:PR Newswire
Date:Nov 17, 1993
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