Queenstown Bank of Maryland

What Queenstown Bank of Maryland does

Queenstown Bank of Maryland is an independent, privately held community bank founded in 1899 and headquartered in Queenstown, Maryland. Operating under Maryland state law and FDIC-insured, the bank has grown from a single-branch savings institution with $5,000 in initial assets to a nine-branch franchise across four Maryland Eastern Shore counties (Queen Anne's, Talbot, Caroline, and Dorchester). The bank serves consumer, small-to-medium business, and specialty lending customers — including agricultural, marine, school transportation, and commercial real estate — through a relationship-based model with local lending decision-making. Its go-to-market emphasizes community roots, customer flexibility, and recognition as one of only two Maryland banks named to Newsweek's America's Best Regional Banks.

The bank's core technology stack includes the Mobiliti consumer and Mobiliti Business mobile applications, Personal and Business Online Banking portals, Mobile Deposit (with a $5,000 daily limit and same-day processing before 3 PM EST), Zelle P2P, Bill Pay via CheckFree, Multi-Factor Authentication, and Premium Text Fraud Alerts via SMS short code 69293 with confirm/deny response capability. Card and merchant capabilities include Visa debit with Apple Pay, Google Pay, and Samsung Pay compatibility, Mobiliti Card Controls, CardValet for business cards, and POS/payment processing through a partnership with Mercantile Processing Inc. (MPI). Deposit products span QRewards Plus Checking (4.50% APY up to $20K with monthly qualifications), QRewards Cash Back (4% cash back), Direct Advantage, Regular, Senior Advantage, NOW, Super NOW, multiple savings/MMDA products, fixed-rate and Rate Adjustable Deposit CDs (6 months to 5 years), and IRAs. Lending products include conventional mortgages, construction-permanent loans, HELOCs (Prime-indexed, with up to $2,000 closing cost waiver), personal/auto loans, commercial real estate loans, and business term loans and lines of credit.

The revenue model is classic community banking: net interest income from loans (consumer mortgages, HELOCs, commercial real estate, agricultural, marine, school bus, equipment, and working capital lines) funded by deposits, augmented by transaction fees (deposit maintenance, out-of-network ATM, wire, lost-card replacement), debit-card interchange, and merchant services revenue via the MPI partnership. Distribution is bifurcated: nine physical branches with 24-hour ATMs serve as the relationship-lending backbone, while digital channels (mobile, online, telephone banking) handle self-serve transactions. Customer concentration is geographically narrow (Eastern Shore of Maryland) but segment-diversified across consumer and commercial.

Name

Queenstown Bank of Maryland

Legal name

Queenstown Bank of Maryland

Website

https://queenstownbank.com

Company type

Private

Founded year

1899

Operating status

Operating

Headcount range

51–100 employees

Short description

Queenstown Bank of Maryland is a privately held, FDIC-insured community bank founded in 1899, operating nine branches across Maryland's Eastern Shore and serving consumer, small business, and specialty lending (agricultural, marine, CRE) customers via Mobiliti digital banking, in-house lending, and merchant services through Mercantile Processing Inc.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

akta.pro secondary industries

Digital Retail Banking (Online & Mobile) (FSABAAAF), Financial Inclusion & Basic Banking (Unbanked/Underbanked, Low-Fee Accounts) (FSABAAAL)

Keywords

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

Headquarters

HQ city

Queenstown

HQ country

New Zealand

HQ region

Oceania

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Traditional banking revenue from interest earned on mortgage loans, commercial real estate loans, personal loans, home equity loans/lines of credit, and business loans including term loans, lines of credit, and equipment financing
2. Deposit Account Fees and Services: Monthly maintenance fees on certain accounts, excessive withdrawal fees, wire transfer fees, and ATM fees for out-of-network usage
3. Interchange and Card Revenue: Visa Debit Card transaction interchange fees from merchant payments
4. Privacy Policy Revenue Streams: Banking services share personal information for everyday business purposes and marketing; joint marketing with other financial companies is not engaged

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Queenstown Bank is an independent community bank offering a full suite of deposit products (checking, savings, money market, CDs, IRAs) and lending products (conventional mortgages, home equity loans and HELOCs, personal and auto loans, commercial real estate loans, business term loans and working capital lines of credit, plus specialty agricultural, marine and school bus financing). Banking is delivered through nine branches across Maryland's Eastern Shore and through digital channels including the Mobiliti consumer and business mobile apps, Personal and Business Online Banking portals, 24-hour ATMs, and a telephone banking line.

Product overview

Queenstown Bank is a community bank offering a comprehensive suite of banking products and services across personal and business segments. The core deposit products include multiple checking account options (QRewards Plus, QRewards Cash Back, Direct Advantage, Regular, Senior Advantage, NOW, and Super NOW) and savings products (QRewards Savings, Regular Savings, Savings Club, and Tiered/Premier Money Market accounts), along with CDs and IRAs. Lending products span conventional mortgages with fixed and adjustable rate options, construction-permanent loans, home equity loans and HELOCs, personal/auto loans, and commercial real estate loans and business term loans. The bank operates digital banking platforms including Personal Online Banking, Business Online Banking, and Mobiliti mobile banking apps for both personal and business customers. Additional services include Visa debit cards with digital wallet support (Apple Pay, Google Pay, Samsung Pay), fraud protection tools (Premium Text Fraud Alerts, Positive Pay), bill pay, Zelle P2P payments, CDARS/ICS deposit services, merchant services via MPI, Remote Deposit Capture, ACH origination, wire transfers, and financial calculators. The QRewards loyalty program connects checking and savings accounts to earn rewards based on monthly qualifications.

Differentiator

Problem solved

Functional benefit

Brands

• QRewards Plus: Interest-bearing checking account with up to 4.50% APY on balances up to $20,000, with ATM fee refunds nationwide up to $25 monthly.
• QRewards Cash Back
• QRewards Savings
• Mobiliti
• Business Mobiliti

Products and services

• QRewards Plus Checking Interest-earning personal checking account paying up to 4.50% APY on balances up to $20,000, with nationwide ATM fee refunds up to $25 monthly, no monthly service fee, and no minimum balance, contingent on meeting monthly qualifications such as one direct deposit/ACH, 12 debit purchases, and eStatements.
• QRewards Cash Back Checking Free personal checking account that pays 4% cash back on debit card purchases up to $8 total per monthly qualification cycle, with no monthly maintenance fee and no minimum balance requirement when monthly qualifications are met.
• Direct Advantage Checking Free personal checking account requiring an electronic deposit (such as direct deposit payroll) each statement cycle, with no minimum balance and no monthly service fee.
• Regular Checking Standard personal checking account with a $3 monthly service fee that is waived when a $300 minimum daily balance is maintained.
• Senior Advantage Checking Personal checking account for account holders 55 years of age or older, including one free box of basic safety paper wallet-size checks annually.
• NOW Account (Personal) Interest-bearing personal checking account for individuals and sole proprietorships with a $1,000 minimum opening deposit, a $5 monthly service fee, and a $1,000 minimum daily balance to avoid the fee.
• Super NOW Account (Personal) Interest-bearing personal checking account for individuals and sole proprietorships with a $2,500 minimum opening deposit and a $2,500 minimum daily balance required to avoid the monthly service fee.
• QRewards Savings Personal savings account that earns up to 0.50% APY on balances up to $20,000 when linked QRewards checking qualifications are met, with no minimum balance and no monthly service fee.
• Regular Savings Account Standard personal savings account with quarterly statements, interest compounded and credited quarterly, and a $20 minimum opening deposit.
• Savings Club Account Interest-bearing, service charge-free personal savings account that matures the first week of October each year with annual interest credit, designed for holiday or annual savings goals.
• Tiered Money Market Savings Personal money market account with tiered interest rates, $2,500 minimum opening deposit, a $5 monthly service fee waived with minimum balance, and a 6-transaction monthly limit.
• Premier Tiered Money Market Savings Premium money market account with $25,000 minimum opening deposit, tiered interest rates, a $25 monthly service fee waived with minimum balance, and a 3-transaction monthly limit.
• Certificates of Deposit (CDs) Fixed-rate consumer certificates of deposit with terms from 6 months to 5 years, offering various interest payment options including compounding or monthly disbursement, with Rate Adjustable Deposit (RAD) options for certain terms.
• Individual Retirement Account (IRA) Tax-advantaged retirement savings account offering tax deferral on interest earned and potential tax deductions for qualifying depositors, available through CD and savings options.
• Conventional Mortgages Conventional residential mortgages offering fixed and adjustable rate options with term lengths of 15, 20, or 30 years for home purchases or refinancing, originated through local lenders on Maryland's Eastern Shore.
• Dream Home Construction-Permanent Loan Single loan covering construction costs with disbursements matched to building milestones, converting to a permanent mortgage upon completion with one-time closing, eliminating the need for separate construction and permanent loan closings.
• Home Equity Loans Lump-sum home equity loans using home equity as collateral for large purchases, with fixed interest rates on the full balance over a set term.
• Home Equity Line of Credit (HELOC) Revolving home equity credit line using home equity as collateral for ongoing expenses, with variable rates based on the Wall Street Journal Prime Rate, up to $2,000 in waived closing costs when the line is kept open for 3 years, and an APR ceiling of 24%.
• Personal & Auto Loans Personal installment loans financing home improvements, debt consolidation, vehicle purchases, travel, weddings, and emergency expenses for individual borrowers.
• Commercial Real Estate Loans Flexible commercial real estate financing for land acquisition, residential housing construction, and commercial property investment, with fixed and adjustable rate options and local underwriting decisions.
• Business Term Loans Business term loans for expansion, vehicle or equipment purchases, cash flow needs, and debt refinancing, available with fixed and variable rates subject to credit approval.
• Working Capital Lines of Credit Revolving business lines of credit designed to fund short-term working capital needs, seasonal purchases, inventory, and accounts receivable.
• Agricultural Loans Specialized financing for agricultural businesses and farming operations on Maryland's Eastern Shore, including equipment financing and operational lending.
• Marine Financing Specialized financing solutions for marine-related purchases and operations on the Eastern Shore, including boat and vessel lending.
• School Bus Loans Specialized financing for school bus fleet acquisitions and operations serving Eastern Shore school transportation.
• Business Checking Business checking account with $20 opening deposit, $500 minimum balance, $5 monthly fee waived with minimum balance, unlimited check writing, plus bundled Remote Deposit Capture, ACH Origination, Visa Debit Card, Wire Origination and Positive Pay fraud protection.
• BusinessNOW Account Interest-bearing business checking account available to sole proprietors and non-profits with a $1,000 minimum balance requirement to avoid the $5 monthly service fee.
• Business SuperNOW Account Interest-bearing business checking account for sole proprietors and non-profits with a $2,500 minimum balance requirement to avoid the $25 monthly service fee.
• Business CDs Business certificates of deposit with terms from 6 months to 5 years, various interest payment options, and Rate Adjustable Deposit (RAD) options permitting one rate increase per term.
• Personal Online Banking Web-based online banking service for personal customers providing 24/7 account access, transfers, CheckFree-powered bill pay, eStatements with check images, real-time Notifi alerts, and one-time passcode authentication.
• Mobiliti Mobile Banking Native iOS and Android mobile banking application for personal customers enabling 24/7 account access, mobile check deposits up to $5,000 daily, account-to-account transfers, bill pay, Zelle P2P payments, card controls, real-time fraud alerts via 69293, and text banking via 31727.
• Business Online Banking Web-based online banking platform for business customers providing 24/7 account management, fund transfers, Remote Deposit Capture, ACH origination, wire transfers, Positive Pay check/ACH fraud protection, staff access controls, and Quicken/QuickBooks .qbo data export.
• Mobiliti Business Mobile Banking Native iOS and Android mobile banking application for business customers providing 24/7 account access, transfers, loan payments, bill pay, mobile check deposits, and approval of ACH and wire transfers.
• Visa Debit Card Visa debit card with tap-to-pay convenience, worldwide acceptance, secure PIN-based transactions, and direct access to checking account funds, with optional digital wallet tokenization and CardValet or Mobiliti card controls.
• Merchant Services Payment processing services for business customers delivered through a partnership with Mercantile Processing Inc. (MPI), offering POS systems, EMV chip card acceptance, Apple Pay/Google Pay/Samsung Pay acceptance, mobile loyalty and rewards, inventory management, employee scheduling, and payroll integration.
• CDARS Certificate of Deposit Account Registry Service providing multi-million-dollar FDIC insurance coverage through placement of customer deposits across multiple IntraFi Network member banks from a single Queenstown Bank relationship.
• Insured Cash Sweep (ICS) Insured Cash Sweep service offering multi-million-dollar FDIC insurance coverage through placement of customer funds into money market deposit accounts across multiple IntraFi Network member banks, providing liquidity combined with extended FDIC coverage.

Quantifiable outcome

• 4.50% APY available on QRewards Plus checking balances up to $20,000 with qualifications met
• +4 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability1 record

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• Mercantile Processing, Inc. (MPI)coreTechnology or IntegrationMPI provides all-in-one point-of-sale systems and payment processing solutions for business customers. Services include accepting EMV chip cards, Apple Pay, Google Pay, Samsung Pay, mobile loyalty/rewards programs, inventory management, employee scheduling, and payroll integration. Partnership enables Queenstown Bank to offer comprehensive merchant services.
• IntraFi NetworkcoreTechnology or IntegrationIntraFi network member enabling CDARS and ICS services. Allows Queenstown Bank to offer multi-million dollar FDIC insurance coverage through single relationship by dividing deposits across multiple IntraFi member banks. Services help customers avoid collateral tracking and consolidate statements.
• FDICcoreOthersFDIC insurance provider for all deposits. Multi-million dollar FDIC coverage available through CDARS/ICS services.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Others

• IntraFi Network: Technology/services partner (not a direct competitor) enabling Queenstown's CDARS and ICS deposit products. Included as a relevant ecosystem enabler that supports Queenstown's ability to compete with larger banks on deposit products.

Direct peers

• First United Corporation: Maryland-based community bank holding company with consumer and commercial banking across western Maryland. Similar independent community banking model with full deposit and lending services.
• Woodsboro Bank: Independent Maryland community bank offering consumer and business banking products. Similar size, community focus, and product set to Queenstown Bank, though operating in a different Maryland sub-region.
• Shore United Bank: Community bank headquartered in Easton, MD with branches across the Eastern Shore and broader Maryland. Direct comparable in geography, customer base (consumers and SMBs), and full-service community banking model.
• Hebron Savings Bank: Mutual community bank serving the Eastern Shore of Maryland (Wicomico, Worcester, and surrounding counties). Comparable in scale, mutual/private ownership, and full-service community banking model.
• F&M Trust: Independent community bank serving south-central Pennsylvania and the Maryland region with consumer, mortgage, and business banking products. Comparable independent ownership, community focus, and product mix.
• Burke & Herbert Bank: Virginia-based community bank serving the greater DC metro area with consumer and commercial banking. Already a partner through Queenstown's ATM network, indicating a comparable community-bank operating model.
• Sandy Spring Bank: Maryland-based community bank with similar full-service consumer and commercial banking offerings across multiple branches. Comparable in product breadth (deposits, mortgages, commercial lending) and community-bank positioning.
• Calvin B. Taylor Bankshares / Taylor Bank: Independent community bank serving the Maryland Eastern Shore (Worcester County and surrounding areas). Closely comparable in size, independent ownership structure, and consumer/commercial banking focus.

Broad incumbents

• Atlantic Union Bank: Much larger regional bank operating across Virginia, Maryland, and North Carolina with full-service consumer and commercial banking. Overlaps with Queenstown in the Maryland market but operates at materially greater scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/queenstownbankofmaryland

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 Queenstown Bank of Maryland