The Board of Directors and Management of The Peoples Bank, the wholly owned subsidiary of Peoples Bancorp, Inc., are pleased to announce that the Federal Deposit Insurance Corporation and the Maryland Commissioner of Financial Regulation have terminated the consent order the Bank entered into November 9, 2012.
“From hour one, day one, our Board and staff have been committed to achieving this milestone. The termination of this order is reflective of the efforts of the staff and the quality of the organization. We will continue to build on the traditions of the past while providing the best in customer service to our community,” said Ralph Dowling, President and CEO.
The 105 year old Financial Institution, headquartered in Chestertown, Maryland recently completed its second year of profitability and has increased its capital to meet the “well-capitalized” criteria of the FDIC. In addition, the Bank received the “Community Service Award” from the Kent County Chamber of Commerce and the Maryland General Assembly.
The lifting of the consent order comes at a time when The Bank is well positioned to move forward with its introduction of Mobile Banking-Mobile Deposit and new loan products. An environment of stability, growth and continued commitment to its communities provide the foundation for The Peoples Bank and its plans for the future.
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