Mercantile Bankshares Corp.
2 Hopkins Plaza
Baltimore, Md. 21201
www.mercantile.com Year founded: 1969 Industry: Banking Revenue: n/a Net Income/Loss: $196.81 Million Earnings per share: $2.68 Dividend: $1.29 Stockholder equity: $1.84 Billion Auditor: PricewaterhouseCoopers LLP Stock: MRBK Assets: $13.70 Billion Market capitalization: $3.37 Billion 52-week high: 46.01 1/2/2004 52-week low: 34.77 4/17/2003 President and CEO: Edward J. Kelly III Vice Chairman: Alexander T. Mason Employees: 3565 Local employees: 880 Description: Mercantile is a holding company for 20 different community banks in Maryland, Virginia and Delaware. It is the largest independent banking company in Maryland and has nearly $14 billion in assets on its balance sheet. Developments: Mercantile completed its biggest acquisition in August 2003, a $550 million cash and stock deal for F&M Bancorp, the Frederick-based parent of Farmers & Mechanics Bank. Speculation of further growth began buzzing in June after Mercantile signaled hopes to expand its presence in the District, either through acquiring local banks or opening new branches. Last year former chief executive H. Furlong Baldwin, who helped turn Mercantile into one of Maryland's biggest financial institutions, was named chairman of the Nasdaq Stock Market. Washington banker Michael Flynn, hired by Mercantile to look into growth in the Washington area, left the bank in February to become president and chief executive of EagleBank in Bethesda.
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