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Howard Bancorp execs, board members exercise warrants.

BANKING AND CREDIT NEWS-September 8, 2014--Howard Bancorp execs, board members exercise warrants


8 September 2014 -- Maryland US-based bank holding company Howard Bancorp Inc (NASDAQ: HBMD) said members of its board and management have exercised warrants to acquire 44,494 shares of Howard Bancorp's common stock at a price of USD 10.00 per share prior to the expiration of such warrants on August 30, 2014.

These warrants were part of an issue of warrants to acquire shares of common stock granted in 2004 in connection with the founding and initial capitalization of the Bank.

In total, holders exercised warrants to acquire an aggregate of 47,068 shares of common stock, resulting in USD 470,680 of new capital.

The warrants exercised by the board and management represented 100% of the warrants held by them as a group.

Howard Bancorp's stock price closed on August 29, 2014 at USD 10.00 per share and its average closing stock price over the past 50 trading days was USD 10.07.

The firm posted total assets of USD 534m as of June 30, 2014.

Its principal operating subsidiary, Howard Bank, is a community bank serving businesses, professionals and individuals in the Greater Baltimore area through eight full service branches as well as regional offices in Annapolis and Towson, MD, and mortgage operations throughout the Central Maryland area.

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Publication:M2 Banking & Credit News (BCN)
Geographic Code:1U5MD
Date:Sep 8, 2014
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