Harbor Bank of Maryland Opens Downtown Silver Spring Branch at 1010 Wayne Avenue

Harbor Bank of Maryland has launched a new branch in downtown Silver Spring at 1010 Wayne Avenue, adjacent to Java Nation, marking its expansion into the area. Founded in 1982, the bank has served the Black community for over 40 years, currently managing more than $400 million in assets. Recognized as a community development financial institution, it specializes in assisting minority-owned small businesses and first-time homebuyers who face challenges with conventional loans. President and CEO John Lewis articulated the bank's dedication to addressing community needs, particularly given the historical context of banking discrimination. The bank also runs an Emerging Developer Program to support small real estate developers and collaborates with Habitat for Humanity to create affordable housing.

Its new branch aims to provide vital financial services to the local populace. Additionally, the bank established a loan production office in 2018 within the same building as the new branch. This strategic expansion underscores the bank's ongoing commitment to fostering economic growth in the community.