Maryland Bank Opts For State Charter

Baltimore County Savings Bank has converted from a federally chartered stock savings bank to a Maryland-chartered commercial bank, according to BCSB Bancorp Inc., the bank's holding company.

The conversion allows the bank and the holding company to be regulated by one federal regulator, the Federal Reserve Bank of Richmond, rather than by both the Federal Reserve and the Office of the Comptroller of the Currency.

As a result of the charter conversion, the Office of the Commissioner of Financial Regulation of the State of Maryland and the Federal Reserve will act as the bank's primary regulators, BCSB Bancorp says.

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