Capital Funding Bancorp, Inc. which recently acquired AmericasBank, is renaming the institution and each branch as CFG Community Bank as part of its efforts to strengthen the institution and build its presence in Maryland.
The bank has acquired AmericasBank and its three Maryland branches in August 2009. Since then, it has injected more than $34m in new capital into the institution and transferred highly profitable loans previously held by Capital Funding Group.
AmericasBank, whose headquarters will be moved to the CFG Tower at 1422 Clarkview Road in Baltimore, previously operated as Towson Community Bank in Towson, Md., Annapolis Community Bank in Annapolis, Md. and AmericasBank in the Highlandtown neighborhood of Baltimore. All three branches will continue to operate under the new name.
Capital Funding Bancorp was started earlier in 2009 by Jack Dwyer, the owner of Capital Funding Group of Baltimore. The latter is a nationally-known healthcare lender, having made more than $1bn in loans for healthcare facilities with mortgages insured by the Federal Housing Administration.
According to Dwyer, “This bank is part of the CFG family and that means it will be strong, well-capitalized and capable of providing a whole range of services, especially for small businesses”.
“We are especially proud that we accomplished so much without any federal money, without any funds coming from the TARP program,” he added, referring to the federal Troubled Asset Relief Program.
Commenting on the new partnership, CFG Community Bank President and CEO A. Patrick Linton, said: “Small businesses need a strong partner who knows them and who will stand by in good times and tough times. We’re glad we can be that partner”.