Question 1

What is Cecil Bank?

Accepted Answer

Cecil Bank is a community-focused commercial bank headquartered in Elkton, Maryland. As a state-chartered bank and member of the Federal Reserve System, Cecil Bank serves Cecil County and surrounding areas in northeastern Maryland. With approximately $228 million in total assets and 4 full-service branches, the bank specializes in providing personalized banking services to individuals, families, and businesses throughout the region.

The bank operates as a subsidiary of Cecil Bancorp, Inc. and maintains a strong commitment to local community involvement while offering modern digital banking capabilities.

Question 2

When was Cecil Bank founded?

Accepted Answer

Cecil Bank was originally established as Cecil Federal Savings and Loan Association on October 7, 1959. The institution was founded to serve the banking needs of Cecil County residents and businesses.

Over its history, the bank underwent several transformations. On January 20, 1993, it became Cecil Federal Savings Bank, and on November 10, 1994, it converted from a mutual savings bank to a stock savings bank. On October 1, 2002, the institution rebranded as Cecil Federal Bank and changed its charter to become a state-chartered bank supervised by the Federal Reserve.

On June 11, 2001, the institution acquired Columbian Bank, a Federal Savings Bank in Havre de Grace, Maryland, expanding its market presence. The bank adopted its current name, Cecil Bank, on December 18, 2006.

Question 3

Where is Cecil Bank headquartered?

Accepted Answer

Cecil Bank's headquarters is located at 127 North Street, Elkton, Maryland 21921. Interestingly, the bank's headquarters building has historical significance—it was erected in 1868 to house the offices of the Cecil Whig newspaper after a fire destroyed the previous wooden structure. The brick building served the newspaper for decades before becoming home to Cecil Bank.

Question 4

Where does Cecil Bank operate?

Accepted Answer

Cecil Bank operates exclusively in Cecil County, Maryland and surrounding communities within the Philadelphia-Camden-Wilmington metropolitan area. The bank maintains 4 full-service brick-and-mortar branches in the following locations:
• Elkton - Main office at 127 North Street and Fair Hill Branch at 4434 Telegraph Road
• North East - 108 North East Plaza Branch
• Rising Sun - Rising Sun Towne Centre Branch at 56 Rising Sun Town Centre

All branches are located within Cecil County, reflecting the bank's focused community banking strategy.

Question 5

What services does Cecil Bank offer?

Accepted Answer

Cecil Bank provides a comprehensive range of banking services for personal and business customers, including:

Personal Banking: Checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, home mortgages, home equity lines of credit, and debit cards.

Business Banking: Business checking and savings accounts, commercial loans, lines of credit, merchant services, and specialized lending for small businesses, farms, and larger corporations.

Digital Banking: Cecil Bank offers robust digital services including online banking accessible through cecilbank.com, a highly-rated mobile banking app (4.6 stars on Google Play with over 1,000 downloads) featuring mobile check deposit, bill pay, account transfers, transaction history with check images, ATM and branch locators, and Card Valet for debit card protection. The mobile app is available for both iOS and Android devices.

Additional Services: 24-hour telephone banking, wire transfers, and safe deposit boxes.

Question 6

What makes Cecil Bank unique?

Accepted Answer

Cecil Bank distinguishes itself through its unwavering commitment to local community banking in Cecil County. As an independent community bank operating since 1959, Cecil Bank emphasizes personal relationships and local decision-making.

The bank combines traditional community banking values with modern technology. Despite its small size with just 29 employees, Cecil Bank has invested in state-of-the-art digital banking platforms, offering mobile deposit capture, online account management, and Card Valet security features.

Cecil Bank's leadership has publicly stated their intention to remain independent and focus on delivering superior personal service while maintaining strong involvement in local communities. This commitment to independence is relatively rare in an era of bank consolidation.

The bank's geographic focus allows it to develop deep expertise in the Cecil County market and maintain close relationships with customers, many of whom have banked with the institution for generations.

Question 7

What type of financial institution is Cecil Bank?

Accepted Answer

Cecil Bank is classified as a State-Chartered Commercial Bank that is a member of the Federal Reserve System. This classification means the bank operates under a state banking charter issued by Maryland but has voluntarily joined the Federal Reserve System, subjecting itself to Federal Reserve supervision and regulations.

As a commercial bank, Cecil Bank accepts deposits from the public and provides a wide range of lending services to individuals and businesses. The institution is FDIC-insured (Certificate #31121), protecting depositors up to the applicable limits. Cecil Bank is also classified as a community bank due to its local focus, asset size, and commitment to serving the specific needs of Cecil County and surrounding communities in northeastern Maryland.

Cecil Bank

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About Cecil Bank in the United States