NBRS Financial, Rising Sun, Md. was closed by the Maryland Office of the Commissioner of Financial Regulation. The Federal Deposit Insurance Corporation (FDIC) was named receiver.
No advance notice is given to the public when a financial institution is closed. Operations are typically turned over to a bank willing to take on its operations, with the doors reopening on Monday.
Deposit accounts have been transferred to Howard Bank, Ellicott City, Md. Further information on the bank is available at a www.howardbank.com.
NBRS, which has branches in Cecil County, Md., had struggled for years with problem loans. Earlier this year, Howard Bank had acquired the Havre de Grace, Md. office of NBRS. See related story.
Rising Sun is about 25 miles west of Newark.
Howard Bank also purchased the Aberdeen branch from Cecil Bank, Elkton. Cecil Bank has been under supervision by state and federal regulators
Customers continue to have online access to the NBRS site.
All deposit accounts have been transferred to Howard Bank, Ellicott City, Md. Further information on the bank is available at a www.howardbank.com. St
The FDIC assembled information regarding NBRS Financial. For customers. Further information is available at the link below.