Harbor Bank opens new branch in Northwood Commons

0

A new bank branch opened Monday in northeast Baltimore as the area has seen more bank closings in recent years than almost any part of the country Harbor Bank chose the June 19 commemoration to mark the opening of its new branch in Northwood Commons to show the progress of history. Until the 1960s, black people were banned from the old Northwood Mall. “Nearly 60 years ago, as you heard, I and many spectators would not have been welcome in the mall at that time as well as neighborhood residents who were black,” David said. Wilson, Morgan State University President David Bramble “The next time someone tells you that you can’t do projects like this in our city and our neighborhoods, laugh at them and give- their directions to Northwood Commons,” Bramble said. The bank branch opening comes as the Baltimore area has seen the second-highest rate of bank branch closures in recent years. Between 2017 and 2021, the number of bank branches in the region fell from 685 to 589, a drop of 14%, according to the National Community Reinvestment Coalition,” said U.S. Representative Kweisi Mfume, D-District 7. Harbor Bank is now the only commercial bank including The headquarters are in Baltimore City, which was previously a banking center. “We discovered that during the pandemic, that having a bank that understood the community was extremely important to providing resources to the community,” said U.S. Senator Ben Cardin, D-Maryland. “We need to talk to the banking community to let them know that they can’t be national in name only, that they have to invest locally, and in doing so, it’s not just New York or Los Angeles or Houston. It’s also Baltimore,” said said Mfume. bank. “How do you meet them where they are? And, it looks at the kind of technology you need. But you also know that sometimes it will be necessary to be in a physical location, which is the branch,” Haskins said. In addition to the new Harbor Bank branch, Fulton Bank has also opened a branch in the mall. And, across town, the ground has been laid for a new Chase Bank branch in Mondawmin.

A new bank branch opened in northeast Baltimore on Monday, as the area has seen more bank closings in recent years than almost any part of the country.

Harbor Bank has chosen the June 19 commemoration to mark the opening of its new branch in Northwood Commons to show the progress of history. Until the 1960s, black people were banned from the old Northwood Mall.

“Nearly 60 years ago, as you have heard, I and many spectators would not have been welcome in the mall. That was the case with the students frequenting Morgan at that time as well as residents of the neighborhood who were black,” said David Wilson, president of Morgan State University.

The redeveloped commercial area was financed by black-owned Harbor Bank, built by black-owned commercial construction and developed by black developer David Bramble.

“The next time someone tells you that you can’t do projects like this in our city and our neighborhoods, laugh at them and give them directions to Northwood Commons,” Bramble said.

The bank branch opening comes as the Baltimore area has seen the second highest rate of bank branch closures in recent years. Between 2017 and 2021, the number of bank branches fell from 685 to 589 in the region, a drop of 14%, according to the National Community Reinvestment Coalition.

“It’s a national trend, and it’s especially harmful for cities like Baltimore,” said U.S. Representative Kweisi Mfume, D-District 7.

Harbor Bank is now the only commercial bank headquartered in Baltimore City, which was previously a banking center.

“We discovered that during the pandemic, that having a bank that understood the community was extremely important in getting resources to the community,” said U.S. Sen. Ben Cardin, D-Maryland.

“We need to talk to the banking community to let them know that they can’t be national in name only, that they need to invest locally, and in doing so, it’s not just New York, Los Angeles or Houston. . It’s also Baltimore,” Mfume said.

Harbor Bank CEO Joseph Haskins said the bank is more selective about where to open branches, acknowledging the growth of online banking.

“How do you meet them where they are? And it depends on the type of technology you need. But you also know that sometimes it will be necessary to be in a physical place, that is to say the branch,” Haskins said. .

In addition to the new Harbor Bank branch, Fulton Bank has also opened a branch in the mall. And, across town, the ground has been laid for a new Chase Bank branch in Mondawmin.

Share.

Comments are closed.