Harford Bank

Name

Harford Bank

Legal name

Harford Bank

Website

https://harfordbank.com

Company type

Public

Founded year

1964

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211), Savings Institutions and Other Depository Credit Intermediation (522180), Activities Related to Credit Intermediation (5223)

SIC

State Commercial Banks (6022), Personal Credit Institutions (6141), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Credit Cards & Revolving Credit (FSABAAAC), Escrow, Trust & Agency Services (escrow, paying agent, trustee) (FSABAIAI)

Keywords

• Retail banking services
• Community banking
• Consumer lending
• Commercial deposit accounts
• Small business banking

Headquarters

HQ city

Aberdeen

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income from Lending: Harford Bank generates revenue primarily through interest earned on loans including mortgages, home equity loans, vehicle loans (auto, RV, motorcycle, boat), manufactured home loans, and commercial loans. Interest rates vary by product type and term, with APRs ranging from approximately 6.5% for auto loans to 10%+ for manufactured home loans.
2. Deposit Account Fees and Service Charges: Monthly service charges on deposit accounts including checking and savings accounts when minimum balance requirements are not met. Business checking accounts include per-item charges and monthly activity fees.
3. Digital Banking Services: Bill Pay service fees for business customers ($5.95/month for up to 15 payments, $0.60 per additional payment), merchant transaction processing through partners Evolv and APS.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Harford Bank is a community bank that accepts consumer and business deposits and originates consumer, mortgage, and commercial loans. It delivers these services through nine branch locations in Harford and Cecil Counties, Maryland, supported by online and mobile banking, debit/credit card products, and merchant processing for business customers. The bank earns revenue primarily from net interest income on its loan portfolio and from deposit-related service charges.

Product overview

Harford Bank is a community bank offering a comprehensive suite of retail and commercial banking products through both traditional branch locations and digital channels. The core digital platform includes Internet Banking and a Mobile Banking App, supplemented by add-on services like Bill Pay, Mobile Wallet (Apple Pay, Google Pay, Samsung Pay), Zelle, Text Banking, and ScoreCard Rewards. The deposit portfolio spans personal and business checking, savings, money market, and CDs (including IRA variants), with specialty accounts like IOLTA for attorneys and CDARS for expanded FDIC coverage. Lending products include mortgages, home equity (fixed rate and lines of credit), auto loans, motorcycle/RV/boat loans, and manufactured home loans. Business services encompass merchant processing (via Evolv), Remote Deposit Capture, ACH Origination, and Re$ubmitIt check recovery. The bank operates 9 branches in Harford and Cecil Counties, Maryland, and is publicly traded under ticker HFBK.

Differentiator

Problem solved

Functional benefit

Brands

• ScoreCard Rewards: Points-based loyalty program that lets customers earn rewards when making qualifying purchases with their Harford Bank Visa Debit card.

Products and services

• Mobile Banking App Native iOS and Android application enabling 24/7 account access, fund transfers, mobile check deposit, bill payment, branch/ATM location finder, and debit card controls (freeze/unfreeze, spending controls, alerts) for personal and business customers.
• Internet Banking Web-based online banking platform providing 24/7 account access, transaction viewing, fund transfers between Harford Bank accounts, electronic statements, and Quicken/Microsoft Money download support.
• Community Checking Personal interest-bearing checking account (Premier and Premier Plus options) for individual consumers, offering tiered interest rates based on account features.
• Regular Statement Savings Personal interest-bearing savings account requiring $100 minimum balance to open and to avoid monthly service charge, earning 0.25% APY.
• Community Money Market Account Personal money market savings with tiered interest rates from 0.20% APY ($1–$9,999) up to 1.00% APY ($100,000–$249,999).
• Personal Certificates of Deposit and IRAs Personal CDs and IRAs (Traditional, Roth, Coverdell Educational Savings) with terms from 31 days to 42 months and various minimum deposits, including a highlighted 13-Month CD at 3.86% APY.
• 13-Month CD Promotional certificate of deposit with a 13-month term at 3.86% APY, featured on the bank's homepage.
• Auto Loans Vehicle financing for new and used cars with terms of 36 to 72 months, APRs from 6.59% to 7.59% (0.25% discount with automatic payment), and up to 95% LTV on new vehicles.
• Motorcycle Loans Financing for new and used motorcycles with terms up to 60 months, rates of 7.49%–7.99% APR (new) and 7.59%–7.94% APR (used), requiring 10% down payment.
• RV Loans Financing for new and used recreational vehicles with terms up to 180 months, rates from 7.44% to 7.99% APR, and 10% down payment required.
• Boat Loans Financing for new and used boats with terms up to 180 months, rates from 7.44% to 7.99% APR, and 10% down payment required.
• Manufactured Home Loans Loans for manufactured homes situated in community lots, with terms of 120 to 240 months, rates of 9.54%–10.29% APR, and a requirement that the home be 20 years old or newer.
• Unsecured Personal Loans Small personal loans used for vacation, auto repair, bill consolidation, or education, with no collateral required.
• CD Secured Loans Loans secured by a Harford Bank certificate of deposit, allowing depositors to access funds while the underlying CD continues to earn interest.
• Fixed Rate Home Equity Loans Closed-end home equity loans with fixed rates, terms of 60 to 240 months, APRs of 6.29%–7.14%, and no closing costs paid by the bank up to $1,300 on loans up to $150,000.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by the primary residence with a 10-year draw period and 20-year repayment, variable rate of Prime − 0.25% (6.50% APR with auto-pay) or Prime + 0% (6.75% APR without), minimum line $10,000, and maximum APR of 18%.
• Small Business Checking Checking account for all business types with a $1,500 minimum balance to avoid a $12 monthly service charge, including up to 200 items per month and requiring eStatements.
• Commercial Checking Business checking with simplified pricing and earnings credits that can offset monthly fees, using balance tiers and per-item charges.
• Select Checking Interest-bearing checking account for sole proprietors and non-profit organizations requiring a $1,500 minimum balance.
• Premium Commercial Checking Interest-bearing commercial checking with tiered interest rates, requiring a $35,000 minimum initial deposit and minimum balance to avoid a $35 monthly fee.
• Commercial Money Market Interest-bearing business money market account with nine balance tiers from 0.20% APY to 3.60% APY ($5,000,000+), subject to a six-per-month non-in-person withdrawal limit.
• Commercial Savings Interest-bearing business savings account with a $100 minimum balance requirement and a monthly service charge if the balance falls below the minimum.
• IOLTA / MAHT Checking Specialty statutory trust accounts for attorneys (IOLTA, with interest remitted to the Maryland Legal Service Corporation) and title professionals (MAHT, with interest remitted to the Maryland Affordable Housing Trust).
• Business Certificates of Deposit Business CDs with terms from 31 days to 60 months, a $1,000 minimum deposit, and Step-Up CD options allowing a one-time rate change.
• Visa Debit Card Visa-branded debit/check card usable at Harford Bank ATMs, the MoneyPass, STAR, and CIRRUS networks, and at any merchant accepting Visa; integrated with the ScoreCard Rewards loyalty program.
• Visa Platinum Credit Card Credit card issued through the My Community Credit Card program, accepted at any merchant that takes Visa debit or credit.
• Visa Purchase Card Corporate credit card for mid-size to large businesses with advanced reporting features and spending controls to simplify accounts payable.
• Remote Deposit Capture Business cash management service that lets commercial customers send digital images of checks for deposit from their office, processing them electronically like paper checks (with applicable monthly service charges).
• ACH Origination Business cash management service for sending electronic transactions through the ACH network, including direct deposit of payroll and collection of funds from third parties.
• Cash Management Sweep Automatic end-of-day sweep service that transfers excess commercial checking balances into a money market account, with automatic return when funds are needed.
• Business Bill Pay Electronic bill payment service for business customers, priced at $5.95/month for up to 15 payments and $0.60 per additional payment.
• Funds Transfers (Wire Transfers) Domestic and international wire transfer service for sending funds to accounts at other financial institutions, available for same-day processing.
• Merchant Transaction Processing Payment processing services provided through the Evolv partner for commercial customers, supporting credit and debit card acceptance, gift cards, mobile payments, and e-commerce transactions.
• Re$ubmitIt Check Recovery Electronic check recovery service that re-presents returned checks through the ACH network, potentially doubling recovery rates on NSF checks under $2,500; no charge for eligible items.
• CDARS (Certificate of Deposit Account Registry)
• Overdraft Protection
• Safe Deposit Boxes

Quantifiable outcome

• Closing costs paid by Harford Bank (up to $1,300) for home equity lines up to $150,000
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature4 records

Partnerships

One partnership is on record.

• Inner County OutreachcoreOthersInner County Outreach is a community nonprofit organization founded in 1986, serving families in Harford County through youth services, basic needs, and mental health programs. Harford Bank has been a banking partner since 2018, providing financial services and community support. ICO has served over 25,000 families with millions in charitable assistance.

Scale indicators3 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Truist Financial Corporation: Major Mid-Atlantic regional bank with branches across Maryland including the greater Baltimore area — competes with Harford Bank across consumer and commercial banking at much greater scale and digital capability.
• M&T Bank: Large regional bank with a significant Baltimore-area branch presence including Harford County — competing with Harford Bank across retail deposits, commercial lending, and mortgages, but operating at much greater scale and product breadth.
• PNC Financial Services: Top-five U.S. retail bank with extensive Maryland branch coverage including Harford County — competes with Harford Bank on retail deposits, mortgage origination, and small-business banking at significantly larger scale.

Direct peers

• ACNB Corporation: Independent community bank holding company based in Gettysburg, PA, operating ACNB Bank and Russell Insurance Group across south-central Pennsylvania and northern Maryland — directly comparable as a small, independent, publicly traded Mid-Atlantic community bank with similar branch count and product scope.
• F&M Trust: Pennsylvania-based community bank with Maryland loan production offices serving the greater Mid-Atlantic — comparable as an independent, community-focused bank with similar deposit and consumer-lending product offerings.
• Cecil Bank (sub of Cecil Bancorp): Community bank headquartered in Elkton, Maryland, directly competing with Harford Bank's Cecil County branches for deposits, mortgages, and small-business relationships in the same local market.
• Sandy Spring Bancorp: Maryland-headquartered community bank (now part of Atlantic Union after 2024 acquisition) serving the Baltimore-Washington corridor with retail deposits, commercial lending, and mortgage origination — directly comparable to Harford Bank in geography, product mix, and target customer segments.
• Freedom Federal Credit Union: Harford County-headquartered credit union offering consumer and business banking products — directly competes with Harford Bank for retail and small-business deposits in the same local market.
• APG Federal Credit Union (APGFCU): Harford County-based credit union serving Aberdeen Proving Ground and surrounding communities — a direct competitor in retail deposits, consumer loans, and small-business banking within Harford Bank's core footprint.
• Shore Bancshares / Easton Bank: Maryland community bank holding company operating Easton Bank and Shore Bank of Maryland — comparable in size, product mix, and independent community-bank positioning within the state of Maryland.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xinstagram.com/harfordbank
• Facebookfacebook.com/HarfordBankOfficial
• LinkedInlinkedin.com/company/harford-bank
• Instagraminstagram.com/harfordbank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Harford Bank