NBRS Financial Bank
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|
 Bank building on Main St in Rising Sun, Maryland from 2011 | |
| Formerly | The Evans and Wood Bank, The National Bank of Rising Sun |
|---|---|
| Company type | Public company |
| Industry | Financial services |
| Founded | 1873 |
| Defunct | 2014 |
| Fate | Closed by regulators after having financial problems |
| Headquarters | , |
Area served | Maryland |
| Products | Banking services |
| Website | www |
NBRS Financial Bank was an American bank based in Maryland that operated between 1873 and 2014 when it was closed by state regulators.[1]
History
[edit]The bank was founded in 1873 as The Evans and Wood Bank.[1] it was chartered as a national bank on July 1, 1880 under the name The National Bank of Rising Sun.
It became a state chartered bank in 2002, again changing its name to NBRS Financial (abbreviation of the bank's name). It opened branches in Aberdeen (12/28/2004), Elkton (6/3/2005), Havre De Grace (1/18/2000), Peach Bottom (10/3/1973), Rising Sun (7/1/1880), and Street (7/18/2003). As of June 30, 2014, they had 54 full-time employees at their six offices. During the bank's height, the Federal Deposit Insurance Corporation reports they had 75 full-time employees.
The bank got into financial trouble due to bad loans in the 2010s and was seized by regulators in 2014.[2]
References
[edit]- ^ a b "Troubled NBRS Financial Bank is closed by state regulators". The Baltimore Sun. October 17, 2014. Retrieved 13 July 2017.
- ^ "Federal Reserve orders sale or capital injection for NBRS bank". Delaware Business Now. April 13, 2014.
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