The Daily Record is reporting that two Maryland banking institutions, Bank of the Eastern Shore in Cambridge and HarVest Bank of Maryland in Gaithersburg were closed Friday by the Maryland Commissioner of Financial Regulation, it was announced late Friday by the Federal Deposit Insurance Corp.
The Bank of the Eastern Shore’s deposits and assets have been transferred to a new, temporary entity, Deposit Insurance National Bank of Eastern Shore, which will remain open for approximately 30 days to allow depositors access to their money.
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