a50853673.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 24, 2014
Howard Bancorp, Inc.
(Exact Name of Registrant as Specified in Charter)
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Maryland
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001-35489
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20-3735949
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(State or Other Jurisdiction
of Incorporation)
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(Commission File
Number)
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(IRS Employer
Identification No.)
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6011 University Boulevard, Suite 370, Ellicott City, Maryland
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21043
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(Address of Principal Executive Offices)
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(ZIP Code)
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Registrant’s telephone number, including area code (410) 750-0020
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Section 1 – Registrant’s Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
On April 24, 2014, Howard Bank, the operating subsidiary of Howard Bancorp, Inc., entered into a Branch Purchase and Assumption Agreement with NBRS Financial Bank, pursuant to which Howard Bank will purchase NBRS Financial Bank’s existing branch location at 800 Revolution Street, Havre de Grace, Maryland and assume the lease for this location. Pursuant to the agreement, Howard Bank will acquire a minimum of $16.7 million in loans and will assume deposit liabilities of not less than $21.0 million. Howard Bank will pay NBRS Financial Bank a premium of 5% on non-interest bearing demand deposit accounts, and 4% on all other transaction accounts.
Closing of the branch sale is subject to customary closing conditions, including receipt of all necessary regulatory approvals.
A copy of the agreement is filed as Exhibit 10.26 hereto and a copy of the press release announcing the execution of the agreement is filed as Exhibit 99.1 hereto.
Section 9 – Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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10.26
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Branch Purchase and Assumption Agreement between NBRS Financial Bank and Howard Bank dated April 24, 2014
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| 99.1 |
Press release dated April 24, 2014
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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HOWARD BANCORP, INC. |
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By:
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Name: |
George C. Coffman
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Date: April 29, 2014
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Title: |
Executive Vice President and Chief
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Financial Officer
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