Carroll Bancorp Inc
Carroll Bancorp, Inc. is the holding company for Carroll Community Bank, a Maryland state-chartered community bank founded in 1929. It operates four Maryland branches serving individual consumers and small businesses with deposit accounts, mortgages, personal loans, and community-based lending products.
- Company typePrivate
- Founded1929
- HeadquartersSykesville, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Carroll Bancorp Inc does
Carroll Bancorp, Inc. is the privately held holding company for Carroll Community Bank, a Maryland state-chartered commercial bank founded in 1929 as Carroll County Bank. The bank operates four branches across Maryland — Eldersburg (its main office), Westminster, Bethesda, and Mt. Airy — with a community banking model centered on personal relationships and local decision-making. Its service territory covers Maryland, with mortgage origination extending into South Central Pennsylvania and Northern Virginia.
The bank's product portfolio spans core deposit products (checking, savings), a 24/7 online and mobile banking platform, and a broad consumer and small business lending suite. Lending products include personal loans ($1,000-$50,000, 7%-24% APR), medical loans up to $15,000, auto loans, mortgages (purchase, refinance, FHA, USDA, jumbo, construction-to-permanent), home equity loans and HELOCs (up to 85% LTV), CD-secured loans, overdraft lines of credit ($500-$5,000), student loans, and direct payday loans. The bank also offers Popmoney person-to-person payments, MasterCard gift and travel cards, and a Federal Home Loan Bank of Atlanta partnership for first-time homebuyer down payment assistance grants up to $5,000.
Revenue is generated primarily through interest income on the lending portfolio, supplemented by deposit account fees, overdraft protection interest, P2P transfer fees ($0.50-$1.00 per transaction), and gift/travel card sales. The go-to-market is sales-led and relationship-driven, with branch-based acquisition and a community-focused marketing approach through the Carroll County Chamber of Commerce, Rotary Club involvement, local sponsorships, and educational content marketing. The bank is led by President/CEO Russell J. Grimes Jr. (since October 2008) and a board composed of long-tenured Carroll County business owners covering real estate, insurance, legal, and trades.
Carroll Bancorp Inc firmographics
Firmographics- Name
- Carroll Bancorp Inc
- Legal name
- Carroll Bancorp, Inc.
- Website
- https://carrollcobank.com
- Company type
- Private
- Founded year
- 1929
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Carroll Bancorp, Inc. is the holding company for Carroll Community Bank, a Maryland state-chartered community bank founded in 1929. It operates four Maryland branches serving individual consumers and small businesses with deposit accounts, mortgages, personal loans, and community-based lending products.
- Ownership category
- akta.pro rank
Carroll Bancorp Inc industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022), Personal Credit Institutions (6141)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)
Keywords
Where Carroll Bancorp Inc is headquartered
LocationHeadquarters
- HQ city
- Sykesville
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Carroll Bancorp Inc business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Loan Interest Income: Primary revenue from interest on personal loans, auto loans, mortgages, home equity loans, construction loans, and credit lines. Fixed and variable rate products with terms from 12-60 months.
- Deposit Account Fees: Fees from checking and savings account services including overdraft protection lines of credit ($500-$5,000 limits).
- Gift Card Revenue: MasterCard gift cards and travel cards sold at branch locations in denominations from $10-$1,000.
- Popmoney Transaction Fees: Per-transaction fees for person-to-person payments: $0.50 for transfers up to $500, $1.00 for larger transfers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal Loans - $1,000 to $50,000 with 7%-24% APR for credit-qualified borrowers |
| Unit Pricing | Monthly | Medical Loans - Up to $15,000 with repayment up to 60 months |
| Unit Pricing | Monthly | Bad Credit Personal Loans - $1,000 to $15,000 for any credit score |
| Usage-based | Monthly | Overdraft Line of Credit - $500 to $5,000 |
| Unit Pricing | Monthly | CD Secured Loans - Up to 100% of collateral CD balance |
| One time/ perpetual license | Pay-as-you-go | MasterCard Gift Cards - $10 to $1,000 denomination |
| Transaction based/ take rate | Pay-as-you-go | Popmoney Transfers - $0.50-$1.00 per transaction |
| Subscription | Monthly | Home Equity Loans - Up to 85% of home value |
| Usage-based | Pay-as-you-go | HELOC - Variable rate line of credit up to 85% of home value |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
Carroll Bancorp Inc product offering
Product offeringCore offering
Carroll Community Bank is a Maryland community bank that accepts deposits and originates a broad range of consumer and small business loans. Core products include checking and savings accounts, residential mortgages (purchase, refinance, FHA, USDA, construction-to-permanent, home equity, HELOC, lot), consumer loans (personal, auto, medical, student, CD-secured, payday alternatives), commercial loans for local businesses, Popmoney person-to-person payments, and MasterCard gift and travel cards. Distribution is through four Maryland branches, online and mobile banking, and direct lending officers serving Maryland, South Central PA, and Northern Virginia.
Product overview
Carroll Community Bank operates as a community-focused regional bank offering a comprehensive suite of banking products and financial services. The bank's product portfolio centers on core deposit accounts (checking and savings), digital banking platforms (online and mobile), and a diverse range of lending products. Lending offerings span secured and unsecured personal loans, mortgages including purchase, refinance, construction-to-permanent, FHA, USDA, and home equity products, auto loans, student loans, medical loans, and payday loan alternatives. The bank also provides prepaid card products (MasterCard Gift Cards and Travel Cards) and person-to-person payment services through Popmoney. The bank serves Maryland communities through four branches in Eldersburg, Westminster, Bethesda, and Mt. Airy, positioning itself as a local alternative to larger national banking institutions.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- 317 households replaced payday balances, saving estimated $412,000 in future fees
- +3 more outcomes
Companies that use Carroll Bancorp Inc
Customer profileNamed customers3 records
Segments6 records
Ideal customer profiles4 records
Carroll Bancorp Inc technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Carroll Bancorp Inc partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Federal Home Loan Bank of AtlantacorePartnership providing grant money for down payment and closing cost assistance to low- to moderate-income homebuyers. Federal Home Loan Bank matches funds up to $5,000 for qualifying borrowers. Income eligibility requirements and other conditions apply. Helps first-time homebuyers overcome down payment barriers.
Scale indicators5 records
Recent moves6 records
Expansion highlights3 records
Carroll Bancorp Inc competitors and assessment
Company assessmentBroad incumbents
- First National Bank of Pennsylvania (F.N.B. Corporation): Mid-Atlantic regional bank holding company with branches across Pennsylvania, Maryland, and surrounding states. Comparable product suite (mortgages, consumer lending, deposits) but at much larger scale, operating as a broader incumbent in Carroll's footprint.
- M&T Bank: Large regional bank holding company with significant Maryland presence (notably as acquirer of Provident Bank, where CFO Gallina previously worked). Overlaps Carroll's Maryland footprint and competes directly for consumer and small-business deposits and loans.
Direct peers
- Shore Bancshares: Maryland community bank holding company (Shore United Bank) serving the Eastern Shore and broader Maryland. Comparable as a similarly scaled Maryland community bank offering deposit products, mortgages, and consumer lending.
- Sandy Spring Bancorp: Maryland-headquartered community bank holding company (Sandy Spring Bank) with branches across the DC-metro region. Comparable consumer and small-business banking model with significant Maryland overlap including similar Carroll/Howard County market exposure.
- ACNB Corporation: Pennsylvania-based community bank holding company (ACNB Bank) with branches in south-central PA and northern Maryland. Comparable as a small, privately/community-oriented bank with overlapping mortgage geography into Maryland.
- Howard Bancorp (prior to FVCBankcorp merger): Maryland community bank holding company (Howard Bank) that operated in the greater Baltimore/Carroll County corridor before merging into FVCBankcorp. Closely comparable in scale, market, and product mix.
- Old Line Bancshares: Maryland-focused community bank holding company (Old Line Bank) headquartered in Bowie, MD. Closely comparable to Carroll given its Maryland community-banking orientation, similar consumer and small-business lending focus, and overlapping Mid-Atlantic footprint.
Regional players
- Eagle Bancorp: Maryland/DC-area community bank holding company (EagleBank) focused on the DC metropolitan market including Bethesda — directly comparable given Carroll's Bethesda branch. Similar commercial and consumer banking model.
- Burke & Herbert Bank: Long-standing Virginia/Mid-Atlantic community bank recently acquired by Huntington Bancshares. Comparable as a privately held community bank with similar consumer and small-business focus.
- Bay Banks of Virginia (Virginia Bankers Association): Bank holding company (Virginia Commonwealth Bank and Bank of Virginia) operating in Virginia. Comparable as a Mid-Atlantic community bank with overlapping consumer and small-business banking offerings.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Carroll Bancorp Inc social profiles
Digital presenceCarroll Bancorp Inc financial estimates
Financial estimateRevenue estimate
Valuation estimate
Carroll Bancorp Inc leadership team
Management profileNumber of profiles
Profiles13 records
Carroll Bancorp Inc funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Carroll Bancorp Inc M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Carroll Bancorp Inc
What does Carroll Bancorp Inc do?
Carroll Community Bank is a Maryland community bank that accepts deposits and originates a broad range of consumer and small business loans. Core products include checking and savings accounts, residential mortgages (purchase, refinance, FHA, USDA, construction-to-permanent, home equity, HELOC, lot), consumer loans (personal, auto, medical, student, CD-secured, payday alternatives), commercial loans for local businesses, Popmoney person-to-person payments, and MasterCard gift and travel cards. Distribution is through four Maryland branches, online and mobile banking, and direct lending officers serving Maryland, South Central PA, and Northern Virginia.
Is Carroll Bancorp Inc a public or private company?
Carroll Bancorp Inc is a private company. It is classified as management employee owned and is currently operating.
When was Carroll Bancorp Inc founded?
Carroll Bancorp Inc was founded in 1929. It employs 11 to 50 people.
Where is Carroll Bancorp Inc based?
Carroll Bancorp Inc is headquartered in Sykesville, United States, in the North America region.
How does Carroll Bancorp Inc make money?
Four revenue lines are on record. Loan Interest Income is the primary driver. The others are deposit Account Fees, gift Card Revenue and popmoney Transaction Fees.
Who are Carroll Bancorp Inc's main competitors?
Broad incumbents on record are First National Bank of Pennsylvania (F.N.B. Corporation) and M&T Bank. Direct peers are Shore Bancshares, Sandy Spring Bancorp, ACNB Corporation, Howard Bancorp (prior to FVCBankcorp merger) and Old Line Bancshares. Regional players are Eagle Bancorp, Burke & Herbert Bank and Bay Banks of Virginia (Virginia Bankers Association).
Does Carroll Bancorp Inc have an API?
No public API is recorded for Carroll Bancorp Inc.
What industry is Carroll Bancorp Inc in?
Carroll Bancorp Inc's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAB, Retail Lending (Personal Loans, Auto, Credit Lines). Its NAICS code is 522110 and its SIC code is 6022.