Previous News Releases

The following press releases will give you a sense of the chronology of the formation and organization of our new bank as well as some of the excellent personnel that we have hired.

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Frederick County Bancorp, Inc. Reports Results for the
Fourth Quarter 2007

January 16, 2008, Frederick, MD --- Frederick County Bancorp, Inc. (the “Company”) (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank (the “Bank”), announced today …
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Frederick County Bancorp, Inc. Reports Results for the
Third Quarter 2007

October 12, 2007, Frederick, MD --- Frederick County Bancorp, Inc. (the “Company”) (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today …
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Frederick County Bancorp, Inc. Reports Results for the
Second Quarter 2007

July 10, 2007, Frederick, MD --- Frederick County Bancorp, Inc. (the “Company”) (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today …
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Frederick County Bancorp, Inc. Announces Stock Repurchase
Program Authorization

June 26, 2007, Frederick MD --- Frederick County Bancorp, Inc. (OTCBB: FCBI), parent company of Frederick County Bank, announced today …
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Frederick County Bancorp, Inc. Reports Results for the
First Quarter 2007

April 10, 2007, Frederick, MD --- Frederick County Bancorp, Inc. (the “Company”) (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today …
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Frederick County Bancorp, Inc. Reports Results for the Fourth Quarter 2006

January 12, 2007, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank (the "Bank"), announced today that, for the quarter ended December 31, 2006, the Company recorded a net profit of $460,000 and diluted earnings per share of $0.30, as compared to the net profit of $508,000 and diluted earnings per share of $0.33 recorded for the fourth quarter of 2005. It should be noted that the reduction in earnings is attributable both to the cost of opening the Bank's two new branches late in the third quarter of 2006 and to margin compression resulting from a very competitive market for loans and deposits. For the full year of 2006, the Company earned $1.92 million with diluted earnings per share of $1.26, exceeding the $1.83 million in earnings and diluted earnings per share of $1.20 for the full year of 2005.

The Company also reported that, as of December 31, 2006, assets stood at $234.8 million, with deposits of $209.4 million and loans of $173.9 million, representing increases of 13.1%, 10.2%, and 12.0%, respectively, over year-end 2005.

The Company's wholly-owned subsidiary, Frederick County Bank, was founded in 2001 and now has four branch offices at: 30 West Patrick Street (Frederick), 1595 Opossumtown Pike (Frederick), 200 Commerce Drive (Walkersville) and 6910 Crestwood Boulevard (Frederick).

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Frederick County Bancorp, Inc. Announces Trust Preferred Securities Issue

December 19, 2006, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, on December 15, 2006, the Company completed a private sale of an aggregate of $6 million of qualifying trust preferred securities through FCBI Statutory Trust I, a newly formed trust subsidiary. The trust preferred securities will mature in 2036, and will be redeemable at par, at the Company's option, at any time on or after December 15, 2011, subject to regulatory approval. The trust preferred securities will bear interest on a quarterly basis, at a 6.5375% fixed rate until December 15, 2011, at which time the interest rate becomes a variable rate, adjusted quarterly, equal to 163 basis points over three month LIBOR. 

The proceeds of the issuance will be used by the Company for general corporate purposes, including contribution to its subsidiary bank to support continued asset growth. 

The trust preferred securities have not been and will not be registered under the Securities Act of 1933, as amended, or applicable state securities laws, and unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws. This report shall not constitute an offer to sell or the solicitation of an offer to buy the trust preferred securities.

As of September 30, 2006, the Company's assets stood at $222.6 million. The Company's wholly-owned subsidiary, Frederick County Bank, was founded in 2001 and now has four branch offices at: 30 West Patrick Street (Frederick), 1595 Opossumtown Pike (Frederick), 200 Commerce Drive (Walkersville) and 6910 Crestwood Boulevard (Frederick).

The statements in this press release that are not historical facts constitute "forward-looking statements" as defined by Federal Securities laws. Such statements, regarding Frederick County Bancorp, Inc.'s anticipated future results of operations, are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, statements regarding the anticipated use of the proceeds from the trust preferred securities, changes in interest rates, deposit flows, loan demand and real estate values; as well as changes in economic, competitive, governmental, regulatory, technological and other factors which may affect Frederick County Bancorp, Inc. specifically or the banking industry generally. Forward-looking statements speak only as of the date they are made. Frederick County Bancorp, Inc. will not update forward-looking statements to reflect factual assumptions, circumstances or events that have changed after a forward-looking statement was made. For further information, please refer to the Frederick County Bancorp, Inc. reports filed with the U.S. Securities and Exchange Commission. 

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Frederick County Bancorp, Inc. Reports Results for the Third Quarter 2006

October 11, 2006, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, as of September 30, 2006, the Company recorded a net profit of $467,000 and diluted earnings per share of $0.31, as compared to the net profit of $408,000 and diluted earnings per share of $0.27 recorded for the third quarter of 2005. Also the Company earned $1.46 million with diluted earnings per share of $0.96 during the first nine months of 2006, which compares favorably to the $1.32 million in earnings and diluted earnings per share of $0.87 for the same period in 2005. 

The Company also reported that, as of September 30, 2006, assets stood at $222.6 million, with deposits of $203.7 million and loans of $166.5 million, representing increases of 14.9%, 15.1% and 9.8%, respectively, over the third quarter of 2005.

The Company's wholly-owned subsidiary, Frederick County Bank (the "Bank"), was founded in 2001 and now has four branch offices at: 30 West Patrick Street (Frederick), 1595 Opossumtown Pike (Frederick), 200 Commerce Drive (Walkersville) and 6910 Crestwood Boulevard (Frederick).

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Frederick County Bancorp, Inc. Reports Results for the Second Quarter 2006

July 11, 2006, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, for the quarter ended June 30, 2006, the Company recorded a net profit of $513,000 and diluted earnings per share of $0.34, as compared to the net profit of $400,000 and diluted earnings per share of $0.26 recorded for the second quarter of 2005. The Company earned $992,000 with diluted earnings per share of $0.65 for the first half of 2006 which compares favorably to the $916,000 in earnings and diluted earnings per share of $0.60 for the same period in 2005.

The Company also reported that, as of June 30, 2006, assets stood at $226.7 million, with deposits of $208.7 million and loans of $164.0 million, representing increases of 19.1%, 19.7% and 10.4%, respectively, over the second quarter of 2005.

The Company's wholly-owned subsidiary, Frederick County Bank (the "Bank"), was founded in 2001 and has two existing Frederick City branch offices at 30 West Patrick Street and 1595 Opossumtown Pike. The Bank's two new branch locations at 200 Commerce Drive in Walkersville and 6910 Crestwood Boulevard in Frederick are currently under construction and are expected to open in September 2006.

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Yvonne M. Reeder Joins Frederick County Bank

June 8, 2006, Frederick, MD --- Martin S. Lapera, President and Chief Executive Officer of Frederick County Bank, announced today that Yvonne M. Reeder has been named Branch Officer/Branch Manager for Frederick County Bank.

"We are very pleased to have this experienced community banker join our Retail Banking team," said Wanda S. Shade, CTP, Senior Vice President, Commercial Services and Retail Banking. "Yvonne's experience, knowledge of the Walkersville and Woodsboro markets, and exceptional customer service orientation will be an advantage to our customers in finding the solutions that meet their needs." 

Ms. Reeder has 21 years of community banking experience and most recently managed branch offices in Walkersville and Thurmont. In her new position she will manage FCB's Walkersville branch office, which is currently under construction. Ms. Reeder's many years in branch banking have included prior experience as a teller and a personal banker. She is a graduate of the Maryland Bankers School.

Ms. Reeder is a regular participant in Bowl For Kids' Sake and is also a Sunday school teacher for her church. She is a graduate of Middletown High. Ms. Reeder resides in Woodsboro with her husband Chuck and children Alexis and Aaron. 

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Taitia L. Elliott Joins Frederick County Bank

May 4, 2006, Frederick, MD --- Martin S. Lapera, President and Chief Executive Officer of Frederick County Bank, announced today that Taitia L. Elliott has been named Vice President, Cash Management Officer for Frederick County Bank.

"We are very pleased to have this talented business banking professional join our Commercial Services team," said Wanda S. Shade, CTP, Senior Vice President, Commercial Services. "Taitia's experience, knowledge of the local market and customer service orientation will be an advantage to our customers in finding the solutions that meet their needs." 

Ms. Elliott has 19 years of financial services industry experience and most recently sold cash management services for over nine years. In her new position she will be responsible for business development and the sale of cash management services. Ms. Elliott also has experience in merchant service sales, commercial lending administration and branch banking.

Ms. Elliott received her Bachelors of Psychology from Framingham State College in Massachusetts and has completed courses toward a Master's Degree at Mount St. Mary's University in Emmitsburg. She is a member of the Frederick County Chamber of Commerce.

Ms. Elliott attends Monocacy Valley Church in Ijamsville. She has lived in Frederick for ten years, where she resides with her husband Peter and daughter Ashley. 

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Frederick County Bancorp, Inc. Reports Results for the First Quarter 2006

April 11, 2006, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, for the quarter ended March 31, 2006, the Company recorded a net profit of $479,000 and diluted earnings per share of $0.31, as compared to the net profit of $516,000 and diluted earnings per share of $0.34 recorded for the first quarter of 2005. The expected decline in quarterly net profit in 2006 as compared to 2005 was the result of first quarter income being fully taxable in 2006 and only partially taxable in 2005. Pre-tax earnings for the first quarter of 2006 were $800,000 versus pre-tax earnings of $576,000 in the first quarter of 2005.

The Company also reported that, as of March 31, 2006, assets stood at $220.4 million, with deposits of $202.6 million and loans of $159.3 million, representing increases of 19.4%, 20.0% and 13.8%, respectively, over the first quarter of 2005.

"We are particularly pleased by the sustained growth in our loans and deposits as it has come from within our two existing branches," said Martin S. Lapera, President and CEO of Frederick County Bank. "We appreciate and thank our customers, shareholders and employees for continuing to prove that true community banking meets a real need in Frederick." Frederick County Bank has previously announced two new branch locations in Walkersville and on Crestwood Boulevard; both locations are currently under construction.

In addition, the Board of Directors of the Company has authorized management of the Company to investigate and take such actions as may be necessary to effect a private issuance of up to $5 million of trust preferred securities at such time as management shall deem appropriate. The Company has not determined when such securities would be issued, and the terms of such securities would be subject to determination at the time of issuance. There can be no assurance that the Company will issue any trust preferred securities. This does not constitute an offer to sell any trust preferred securities, or the solicitation of an offer to buy any such securities.

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Frederick County Bancorp, Inc. Reports Results for the Fourth Quarter 2005

January 10, 2006, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, as of December 31, 2005, after slightly more than four years in operation, assets stood at $207.5 million, with deposits of $190.1 million and loans of $155.3 million. For the quarter ended December 31, 2005 the Company recorded a net profit of $508,000 and diluted earnings per share of $0.33, which compares favorably to the net profit of $488,000 and diluted earnings per share of $0.32 recorded for the fourth quarter of 2004. For the full year of 2005, the Company earned $1.83 million with diluted earnings per share of $1.20, exceeding the $1.52 million in earnings and diluted earnings per share of $1.01 for the full year of 2004. However, it should be noted that the Company had income tax expenses of $302,000 and $863,000 for the three and twelve-month periods ended December 31, 2005, respectively, but had no income tax expense during the same periods in 2004.

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Frederick County Bancorp, Inc. Reports Results for the Third Quarter 2005

October 12, 2005, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, as of September 30, 2005, after almost four years in operation, assets stood at $193.7 million, with deposits of $176.9 million and loans of $151.7 million. For the quarter ended September 30, 2005 the Company recorded a net profit of $408,000 and diluted earnings per share of $0.27, as compared to the net profit of $428,000 and diluted earnings per share of $0.28 recorded for the third quarter of 2004. Also the Company earned $1.32 million with diluted earnings per share of $0.87 during the first nine months of 2005, which compares favorably to the $1.03 million in earnings and diluted earnings per share of $0.68 for the same period in 2004. However, it should be noted that the Company had income tax expenses of $246,000 and $561,000 for the three and nine-month periods ended September 30, 2005, respectively, but had no income tax expense during the same periods in 2004. 

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Frederick County Bancorp, Inc. Reports Results for the Second Quarter 2005

July 15, 2005, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, as of June 30, 2005, after slightly more than three and a half years in operation, assets stood at $190.4 million, with deposits of $174.4 million and loans of $148.5 million. For the quarter ended June 30, 2005 the Company recorded a net profit of $400,000 and diluted earnings per share of $0.26, which compares favorably to the net profit of $313,000 and diluted earnings per share of $0.21 recorded for the second quarter of 2004. Also the Company earned $916,000 with diluted earnings per share of $0.60 for the first half of 2005 that exceeded the $602,000 in earnings and diluted earnings per share of $0.40 for the same period in 2004. 

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Frederick County Bank Announces Employee Promotions

June 8, 2005, Frederick, Maryland --- Martin S. Lapera, President and Chief Executive Officer of Frederick County Bank, announced the recent promotions of the following Bank employees: Jay M. House, Denise Guyton-Gaither, Crystal L. Wiles and Lisa M. Hamilton. Mr. House has been promoted to Senior Vice President Operations & Technology Officer, Ms. Guyton-Gaither has been promoted to Senior Vice President Commercial Loans, Ms. Wiles has been promoted to Vice President Assistant Comptroller, and Ms. Hamilton has been promoted to Administrative Assistant/Human Resources Officer.

"We are very pleased to recognize and reward the talents of these banking professionals as significant contributors to our organization. They have a solid understanding of the needs of our target markets and are dedicated to providing excellent customer service to all of our customers," said Mr. Lapera.

Mr. House has 23 years of local community banking experience. He holds a Bachelor of Arts in Economics from the University of Maryland. Mr. House was a Certified Bank Auditor, a Certified Financial Services Auditor, a Certified Regulatory Compliance Manager, and held a certificate in Information Technology Auditing. Mr. House is very involved in the Frederick community, and is a member and past president of the Jefferson Ruritan Club, a member of the Sons of Amvets Post #9 in Middletown, serves on the Board of Directors of the Middletown Valley Athletic Association, assistant coach of the Middletown High School junior varsity girls softball team, and is a member of the United Church of Christ in Middletown, serving as treasurer for the Cemetery Board. He is a native of Frederick County and resides in Jefferson with his wife and two daughters.

Ms. Guyton-Gaither has over 19 years of local community banking experience working with branch offices and commercial loan staff to increase commercial accounts and customer service. In her new position she will be responsible for all types of commercial lending including commercial business and commercial real estate. Ms. Guyton-Gaither's banking experience includes residential mortgage lending, consumer lending and branch management; her focus has been on enhancing customer relations, marketing and sales in her region and she is well-versed in both personal and business financial products and services. She is a graduate of the Maryland Banking School (Maryland Bankers Association), the College of Business and Management at the University of Maryland, the American Institute of Banking's Commercial Lending School, and Xerox University's Commercial Lending School. Ms. Guyton-Gaither is active in the Frederick community, and is an affiliate member of the Frederick County Builders Association and Frederick County Association of Realtors, and is an active member of the Pleasant View Church of the Brethren. 

Ms. Wiles has over 19 years of local community banking experience. She is a graduate of Frederick Community College and Mount Saint Mary's College and has also completed concentrated studies in Bank Risk Management and Commercial Lending. Ms. Wiles is a member of Linganore United Methodist Church and is active in local youth baseball and the 2006 Walkersville Alumni scholarship program. She is a native of Walkersville and currently resides near Libertytown with her husband Scott and her two children, Dallas and Garrett.

Ms. Hamilton has over seven years experience in community banking and was one of the first employees of Frederick County Bank. Her banking experience has included Finance and Shareholder Relations. Ms. Hamilton is a graduate of Governor Thomas Johnson High School, has had payroll system training and is currently attending Frederick Community College to obtain Human Resource Management Certification. She is a member of the Johnsville United Methodist Church where she is in charge of the weekly bulletin and also teaches Sunday School. Ms. Hamilton is a native of Frederick and resides with her husband and two children in Union Bridge.

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Frederick County Bancorp, Inc. Reports Results for the First Quarter 2005

April 15, 2005, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, as of March 31, 2005, after slightly less than three and a half years in operation, assets stood at $184.6 million, with deposits of $168.9 million and loans of $140.0 million. For the quarter ended March 31, 2005 the Company recorded a net profit of $516,000 and diluted earnings per share of $0.34, which compares favorably to the net profit of $289,000 and diluted earnings per share of $0.19 recorded for the first quarter of 2004.

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Frederick County Bancorp, Inc. Reports Results for the Fourth Quarter 2004

January 11, 2005, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, as of December 31, 2004, after slightly more than three years in operation, assets stood at $171.2 million, with deposits of $155.6 million and loans of $135.7 million. For the quarter ended December 31, 2004 the Company recorded a net profit of $488,000 and diluted earnings per share of $0.32, which compares very favorably to the net profit of $229,000 and diluted earnings per share of $0.15 recorded for the fourth quarter of 2003. For the full year of 2004, the Company earned $1.52 million with diluted earnings per share of $1.01, exceeding the $430,000 in earnings and diluted earnings per share of $0.29 for the full year of 2003. The Company's 2003 diluted earnings per share amounts have been restated for the effects of a two-for-one stock split effected in the form of a 100% stock split declared in August 2004 and paid in September 2004.

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Frederick County Bank Announces Two Future Branch Locations

December 10, 2004, Frederick, MD --- Martin S. Lapera, President and Chief Executive Officer of Frederick County Bank, announced today that two sites have been approved, in Walkersville and on Crestwood Boulevard, for future Frederick County Bank branch offices. 

"We are very pleased to announce that the site plans have been approved for the Bank's two new branch locations. While keeping to our business plan, we certainly have listened to our current and future customers' requests for greater branch banking convenience. Having reached a solid position of profitability and financial strength, it was time to move forward to expand our branch network. These locations make a lot of sense geographically and will help create customer convenience and access in areas of Frederick where we believe there is great demand for true community banking. We expect the new branches to be open in late 2005," said Mr. Lapera. 

Signage is being installed to mark the future branch locations at 200 Commerce Drive in Walkersville and at 6910 Crestwood Boulevard (adjacent to the Crestwood Village Shopping Center).

Frederick County Bank is a wholly-owned subsidiary of Frederick County Bancorp, Inc. (OTC Bulletin Board: FCBI) and has branch offices at 30 West Patrick Street (Patrick Financial Center) and 1595 Opossumtown Pike. For further information about either this announcement or Frederick County Bank, please call 301-620-1400, or visit the Bank's website, www.frederickcountybank.com.

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Frederick County Bancorp, Inc. Reports Results for the Third Quarter 2004

October 13, 2004, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, as of September 30, 2004, after almost three years in operation, assets stood at $159.2 million, with deposits of $144.4 million and loans of $123.6 million. For the quarter ended September 30, 2004 the Company recorded a net profit of $428,000 and diluted earnings per share of $0.28, which compares very favorably to the net profit of $132,000 and diluted earnings per share of $0.09 recorded for the third quarter of 2003. Also the Company earned $1,030,000 with diluted earnings per share of $0.68 for the first nine months of 2004, exceeding the $201,000 in earnings and diluted earnings per share of $0.14 for the same period in 2003. The Company's 2003 diluted earnings per share amounts have been restated for the effects of a two-for-one stock split effected in the form of a 100% stock split declared in August 2004 and paid in September 2004.
 

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Frederick County Bancorp, Inc. Announces Two-for-One Stock Split

August 10, 2004, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that its Board of Directors has approved a two-for-one stock split, effected in the form of a 100% stock dividend, of the Company's common stock to shareholders of record at the close of business on August 31, 2004 and will be payable on September 21, 2004.  As a result of the stock split, shareholders will receive one additional common share for every share held on the record date.  The Company's outstanding options and the option price per share will also be adjusted to reflect the stock split.  Upon completion of the split, the number of common shares outstanding will be approximately 1.455 million shares.

"We are very pleased with the results the Company has achieved since opening in October, 2001," said Martin S. Lapera, President and Chief Executive Officer of the Company.  "This stock split reflects our confidence in the Company's continued successful execution of our business strategy as evidenced by the Company's strong financial performance to date.  We believe that this split will help improve market liquidity and broaden ownership of the Company's stock."

As of June 30, 2004, after slightly more than two and a half years in operation, the Company's assets stood at $156.9 million, with deposits of $143.0 million and loans of $116.0 million.  The Company earned $602,000 with diluted earnings per share of $0.80 for the first half of 2004 that exceeded the $69,000 in earnings and diluted earnings per share of $0.09 for the same period in 2003.  Branch offices are located at 30 West Patrick Street and at 1595 Opossumtown Pike, both in Frederick, MD.

 Statements contained in this press release that are not historical facts are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time.

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Frederick County Bancorp, Inc. Reports Results for the Second Quarter 2004

July 13, 2004, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, as of June 30, 2004, after slightly more than two and a half years in operation, assets stood at $156.9 million, with deposits of $143.0 million and loans of $116.0 million. For the quarter ended June 30, 2004 the Company recorded a net profit of $313,000 and diluted earnings per share of $0.42, which compares very favorably to the net profit of $65,000 and diluted earnings per share of $0.09 recorded for the second quarter of 2003. Also the Company earned $602,000 with diluted earnings per share of $0.80 for the first half of 2004 that exceeded the $69,000 in earnings and diluted earnings per share of $0.09 for the same period in 2003. 

Statements contained in this press release that are not historical facts are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time.


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Helen Hahn named as a Director of Frederick County Bancorp, Inc.

July 6, 2004, Frederick, MD --- John N. Burdette, Chairman of the Board for Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), announced today that Helen G. Hahn has been appointed to the Board of Directors for the Company. 

"We are very pleased and honored to have this talented business professional join us on the Company's Board of Directors. Helen has demonstrated extraordinary leadership skills in the banking world as well as in the Frederick community and will bring a unique blend of valuable and relevant experience to her new position," said Mr. Burdette. 

Mrs. Hahn has 35 years of banking experience in local community banking, starting her career as a courier with Frederick County National Bank and ultimately reaching the position of Senior Vice President of Operations with FCNB Bank before her retirement in 2001. She is currently employed as Treasurer for the Evangelical Lutheran Church in Frederick. She is also a member of the Board of Directors of The Loats Foundation, which provides scholarship assistance to students attending area colleges and universities.

Mrs. Hahn's involvement in the local community includes many years of service on the United Way's Allocation Committees. She is a member of the Evangelical Lutheran Church, where she is an active participant in the music ministry of the church. Mrs. Hahn resides in Frederick County.

The Company's wholly-owned subsidiary, Frederick County Bank (the "Bank"), has branch offices at 30 West Patrick Street (Patrick Financial Center) and 1595 Opossumtown Pike. For further information about either this announcement or Frederick County Bank, please call 301-620-1400, or visit the Bank's website, www.frederickcountybank.com.

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Frederick County Bancorp, Inc. Reports Results for the First Quarter 2004

April 13, 2004, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company") (OTC Bulletin Board: FCBI), the parent company for Frederick County Bank, announced today that, as of March 31, 2004, after slightly less than two and a half years in operation, assets stood at $150.2 million, with deposits of $136.5 million and loans of $103.9 million. Also for the quarter ended March 31, 2004 the Company recorded a net profit of $289,000, which compares very favorably to the net profit of $4,000 recorded in the first quarter of 2003.

Statements contained in this press release that are not historical facts are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time.

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Frederick County Bancorp, Inc. Reports Results for the Fourth Quarter 2003

February 10, 2004, Frederick, MD --- Frederick County Bancorp, Inc. (the "Company"), the parent company for Frederick County Bank, announced today that, as of December 31, 2003, after slightly more than two years in operation, assets stood at $130.6 million, with deposits of $117.5 million and loans of $96.0 million. Also for the quarter ended December 31, 2003 the Company recorded a net profit of $229,000, which compares very favorably to the loss of $295,000 recorded in the fourth quarter of 2002. For the full year of 2003 the Company earned $430,000 compared to the loss of almost $1.5 million recognized during the corresponding period in 2002.

Statements contained in this press release that are not historical facts are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time.

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Frederick County Bancorp, Inc. Reports Results for the Third Quarter 2003

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Frederick County Bank Announces Senior Management Promotion

March 26, 2003 --- Martin S. Lapera, President and Chief Executive Officer of Frederick County Bank, announced that William R. Talley, Jr. has been promoted to Executive Vice President and Chief Financial Officer for the Bank. Mr. Talley, as one of the first employees hired by the Bank, was instrumental in its launch and subsequent operations, and previously served as Senior Vice President and Chief Financial Officer.

Mr. Talley has 26 years of progressive financial management experience in both public and private accounting, including 14 years of banking experience with FCNB Bank, where he was Senior Vice President and Comptroller. He holds a B.S. degree in Accounting from Mount Saint Mary's College, as well as being a Certified Public Accountant. Mr. Talley is very involved in the local community; he is an active member of the Rotary Club of Carroll Creek and is a member of the Board of Trustees of the Record Street Home for the Aged. He is also a member of the American Institute of Certified Public Accountants and the Maryland Association of Certified Public Accountants. He and his wife, Lydia, together with their sons, Jason and Jordan, reside in Frederick, Maryland.

Frederick County Bank has branch and ATM locations at 30 West Patrick Street (Patrick Financial Center) and 1595 Opossumtown Pike (at Thomas Johnson Drive). For further information about either this announcement or Frederick County Bank, please call 301-620-1400. 

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Emil Bennett named as a Director of Frederick County Bank

November 26, 2002 --- John N. Burdette, Chairman of the Board for Frederick County Bank, announced today that Emil Bennett has been appointed to the Board of Directors for the Bank.

"We are very pleased and honored to have this talented business professional join us on the Bank's Board of Directors. Mr. Bennett has demonstrated extraordinary skills in the business world as well as the Frederick community and will bring a unique blend of experience to the leadership of Frederick County Bank," said Mr. Burdette.

Mr. Bennett is currently President and owner of Rock Creek Realty, a full-service real estate firm headquartered in Thurmont, MD. He is also the President of Bennett Land Company, a builder/developer with 40 years experience in the industry. Mr. Bennett is currently on the Board of Directors of Mt. Olivet Cemetery and Vice President of Excalibor Condo Association in Ocean City, Maryland.

Mr. Bennett is very involved in the local community, and is currently a member of the National Association of Home Builders and of the National Association of Realtors. He and his wife, Sharon, reside in Thurmont, Maryland.

Frederick County Bank has branch offices at 30 West Patrick Street (Patrick Financial Center) and 1595 Opossumtown Pike. For further information about either this announcement or Frederick County Bank, please call 301-620-1400, or visit the website, www.frederickcountybank.com.

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Frederick County Bank Announces First Anniversary

October 7, 2002 --- John N. Burdette, Chairman of the Board for Frederick County Bank, and Martin S. Lapera, President and Chief Executive Officer, announced today that Frederick County Bank will celebrate its first anniversary in operation on October 18. Customer appreciation events, including daily drawings, are planned for the week of October 15, and refreshments will be available on Friday, October 18. The Bank will be closed on Columbus Day.

"This has really been a fantastic first year for the Bank and we extend our sincere thanks and appreciation to our customers, shareholders, employees and vendors as well as to the Frederick community as a whole," said Mr. Lapera. "To get to this point as quickly as we have is truly a testament to our customers' demand for true community banking, the capital funding provided by our shareholders, the skill and teamwork of our employees, the systems and procedures that run behind the scenes and a business environment that made it all work. However, we are mindful that this is a process, not an event, and so we remain firmly focused on customer service, quality growth, cost control and efficiency. And we are planning to introduce several significant new services in the near future which will effectively incorporate all of these elements."

Since quietly opening its doors on October 18, 2001, Frederick County Bank has grown at a rate that has exceeded original projections, which management believes is a direct reflection of the Bank's extremely favorable reception by the Frederick community. As of October 4, 2002, after almost 12 months in operation, assets stood at $84.6 million, with deposits of $70.9 million and loans of $48.7 million. This achievement puts the Bank well beyond its original year-end projections for 2002.

For further information about either this announcement or Frederick County Bank, please call 301-620-1400 or visit the Bank's website: www.frederickcountybank.com.

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Frederick County Bank Closes Secondary Stock Offering

September 3, 2002 --- John N. Burdette, Chairman of the Board for Frederick County Bank, announced
today that Frederick County Bank successfully closed its secondary stock offering, having raised $5.19 million in additional capital through the sale of all 250,000 offered shares. The stock offering was
initiated in May 2002. The Bank's ability to continue to grow at its current pace required raising
additional capital due to the capital reserve requirement imposed by bank regulations on new financial
institutions.

"We are very pleased to have sold, thanks to the subscriptions of existing and new investors, all shares that were being offered, and warmly welcome the 170 new investors who now bring our total number of shareholders to more than 850," said Mr. Burdette. "We had been aware of a growing demand for additional stock after the Bank opened as well as a solidifying of customer and investor confidence in the Bank itself. These results confirm that Frederick County Bank is meeting a real need for true local community banking and we will continue to live up to that service standard as our primary mission."

Frederick County Bank has grown at a rate that has exceeded original projections, which management
believes is a direct reflection of the Bank's extremely favorable reception by the Frederick community.
As of August 31, 2002, after slightly more than ten months in operation, assets stood at $84.6 million,
with deposits of $71.2 million and loans of $42.2 million. This achievement puts the Bank well beyond
its original year-end projections for 2002.

For further information about either this announcement or Frederick County Bank,
please call 301-620-1400 or visit the Bank's Web site: www.frederickcountybank.com.

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CONTACT:        William R. Talley, Jr., SVP & CFO
TELEPHONE:        (240) 529-1507
RELEASE DATE:    May 2, 2002


FREDERICK COUNTY BANK
ANNOUNCES PLANNED PUBLIC OFFERING OF COMMON STOCK
TO SHAREHOLDERS AND GENERAL PUBLIC

    May 2, 2002, Frederick, Maryland. Frederick County Bank (the "Bank") announced today that it intends to conduct an offering of up to 250,000 newly issued shares of its common stock, $10.00 par value, to existing shareholders and to members of the general public, for a total offering price of up to approximately $5 million. The offering will be effected by the Bank primarily through its directors and officers, and will not be underwritten.

The offering will be in two parts, with 238,413 shares being offered to shareholders of record of the Bank as of May 10, 2002, on a preemptive rights basis, at a price of $20 per share, who will be entitled to purchase one half of one share for every share owned on the record date, and any shares not subscribed for by existing shareholders plus an additional 11,587 shares being offered to members of the general public at a price of $22 per share.

    The proceeds of the offering would be used to support growth, to increase the capital position of the Bank and for other corporate purposes.

    The offering is expected to commence in late May 2002 and to be completed in the third quarter of 2002. The Board of Directors reserves the right to change the terms of the proposed offering or to cancel the offering at any time.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, which may be offered only by means of an offering circular.

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Frederick County Bank Holds First Annual Shareholder Meeting

April 10, 2002 --- Jack Burdette (left), Chairman of the Board, and Martin S. Lapera (right), President and Chief Executive Officer of Frederick County Bank officiated over the Bank's first annual shareholder meeting, held today. Invitations were extended to the Bank's numerous shareholders and to all Bank employees, and over 220 attended. The meeting, which covered shareholder business and also provided presentations by Bank employees, commenced at 7 p.m. and was held in Frederick.

As of March 31, 2002, after slightly more than five months in operation, Frederick County Bank is well on its way to creating a community bank with a commitment to superior customer service. Assets stood at almost $47 million, with deposits of $38.8 million and loans of $24.4 million. Frederick County Bank is focused on actively growing its loan portfolio and, thanks to a team of highly experienced community bankers, is achieving levels of efficiency and productivity that have enabled it to price its other services very competitively. The Bank is also continually adding to its product set and recently introduced two new commercial services: the FCB Sweep Investment Account and merchant credit card processing services. It was announced that the Bank plans to introduce internet-based cash management services later in the year.

Frederick County Bank is now open with branches at 30 West Patrick Street (Patrick Financial Center) and 1595 Opossumtown Pike. For further information about either this announcement or Frederick County Bank, please call 301-620-1400. The Bank also has a Web site, www.frederickcountybank.com.

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Frederick County Bank Holds Ribbon Cutting Ceremony

February 11, 2002 --- Jack Burdette, Chairman of the Board, and Martin S. Lapera, President and Chief Executive Officer, of Frederick County Bank, presided today, along with Frederick's Mayor and other local dignitaries, in a ribbon-cutting ceremony to recognize the opening, and subsequent success to date, of Frederick County Bank. The ceremony was conducted at the headquarters office at 30 West Patrick Street.

Invitations were extended to the Mayor and Aldermen of Frederick, the Frederick County Commissioners and Delegates, the Chamber of Commerce, the Bank's Board of Directors and to all Bank employees. The Mayor presented a Frederick First certificate to the Bank and the County Commissioners presented a certificate from Frederick County, both to recognize the opening of a new business.

With over $9.5 million in capital raised, Frederick County Bank opened quietly in October, 2001 and the ribbon cutting formally recognized the Bank's opening, its place in the Frederick business community and its commitment to the Frederick community as a whole. As of December 31, 2001, after less than three months of operations, assets stood at almost $29 million, with deposits of $20.2 million and loans of $10.5 million.

Frederick County Bank is focused on actively growing its loan portfolio and, thanks to a team of highly experienced community bankers, is achieving levels of efficiency and productivity that have enabled it to price its other services very competitively. The Bank is continually adding to its product set and recently introduced two new commercial services: the FCB Sweep Investment Account and merchant credit card processing services.

Frederick County Bank is now open with branches at 30 West Patrick Street (Patrick Financial Center) and 1595 Opossumtown Pike. For further information about either this announcement or Frederick County Bank, please call 301-620-1400. The Bank also has a Web site, www.frederickcountybank.com.

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New Frederick Bank Announced

FREDERICK, MD, MAY 22, 2001 - A locally owned bank, currently in organization, plans to open in Frederick later this year.

A group of Frederick County business leaders have announced they are forming a new bank to be called Frederick County Bank. Leading the effort is John N. Burdette, who will be Chairman of the Board, and Raymond Raedy, the principal organizer.

"Frederick County Bank has been formed for the purpose of serving the County's business and professional community" said Burdette, who also noted that the County has lost two banks in the past two years thereby limiting the options for those who want to bank where decisions are made locally. "We will offer another option" said Burdette.

"Frederick County Bank will be a full service commercial bank with particular emphasis on business loans and financial services for professionals and small to medium sized businesses. This is a segment of the banking business which has been under served by the out?of?area banks which are coming into the Frederick County market," said Burdette.

"Frederick County Bank will provide the personalized banking services which many local customers need and demand." Mr. Burdette continued, "With strong capital, the expectation of attracting experienced management, convenient locations and responsiveness to the demand for personal attention, Frederick County Bank as a locally owned and managed bank will play a meaningful role in helping serve the banking needs of the community."

Frederick County Bank has begun hiring staff and has signed a lease for a banking office in the city.

The bank, a Maryland corporation, is in the process of filing applications with the Federal Deposit Insurance Corporation and for membership in the Federal Reserve. Assuming various approvals, the bank plans to start business later this year.

Frederick County Bank Headquarters Location Announced

John N. Burdette, Chairman of the Board for Frederick County Bank, announced today that a lease has been signed for the future headquarters and primary banking office of Frederick County Bank.  The space is on the lobby level of the former FCNB Financial Center at 30 West Patrick Street in downtown Frederick.  

"I am very happy to make this announcement," said Mr. Burdette.  "When we heard that this space would become available, we immediately went into negotiations to secure it.  After two months of discussion, the lease has been signed.  We are very enthusiastic about the location and the facilities, which will provide convenient access to our customers."

Mr. Burdette also noted that the existing space is to be renovated to accommodate a banking lobby and executive offices for Frederick County Bank.  It is planned that the new office space will be occupied in late Summer 2001.

For more information, please contact Raymond Raedy, a director of Frederick County Bank, at 301-620-1400

Martin S. Lapera and William R. Talley, Jr. to join Frederick County Bank

John N. Burdette, Chairman of the Board for Frederick County Bank, announced today that Martin S. Lapera and William R. Talley, Jr. have been appointed to senior management positions with the new bank.

Mr. Lapera has been named President and Chief Executive Officer, as well as a Director, of Frederick County Bank. Mr. Talley will be the Senior Vice President and Chief Financial Officer. "We are very pleased to have been able to secure the talents of these seasoned banking professionals. Both are focused on the local customer and are committed to providing exemplary customer service to our target market," said Mr. Burdette.

Mr. Lapera has 24 years of banking experience, including 16 years with FCNB Bank, where he was Executive Vice President, Chief Operating Officer and Chief Lending Officer. Prior to that he had been with First National Bank of Maryland for eight years, where he served as Vice President of Commercial Lending in Frederick County. He holds an MBA from the University of Baltimore and a B.S. degree from Towson State University. He also is a graduate of Walkersville High School and attended Frederick Community College. Mr. Lapera is very active in the Frederick community and is currently a member of the Rotary Club of Frederick, Advocates for Homeless Families, the Board of Associates of Hood College, and the Frederick Community College Fund. He and his wife, Joan, together with their daughter, Nicole, reside in Walkersville, Maryland.

Mr. Talley has 24 years of progressive financial management experience in both public and private accounting, including 14 years of banking experience with FCNB Bank, where he was most recently Senior Vice President and Comptroller. He holds a B.S. degree in Accounting from Mount Saint Mary's College, as well as being a Certified Public Accountant. He also is a graduate of Walkersville High School and attended Frederick Community College. Mr. Talley is very involved in the local community and is an active Member of the Board of Trustees of the Record Street Home for the Aged. He is also a member of the American Institute of Certified Public Accountants and the Maryland Association of Certified Public Accountants. He and his wife, Lydia, together with their sons, Jason and Jordan, reside in Frederick, Maryland.

It has already been announced that Frederick County Bank is expected to open in the Fall of 2001. For further information about either this announcement or Frederick County Bank, please contact Raymond Raedy, a director of Frederick County Bank, at  301-620-1400

Wanda S. Shade and Lee Anne Little to Join Frederick County Bank

Martin S. Lapera, President of Frederick County Bank, announced today that Wanda S. Shade and Lee Anne Little have been appointed to management positions with the new bank.

Ms. Shade has been named Sr. Vice President, Commercial Services and Retail Banking and Ms. Little has been appointed Vice President, Commercial Lending. "We are very pleased to have been able to secure the talents of these banking professionals. They both have a solid understanding of the needs of the local customer and are committed to providing excellent customer service to our target markets," said Mr. Lapera.

Ms. Shade has 24 years of banking experience, including seven years with FCNB Bank, where she was Vice President Commercial Services, specializing in Cash Management. Prior to that, she had been with The First National Bank of Maryland for 17 years, where she served in numerous capacities including Vice President Commercial Business Development and regional branch operations. She holds a BS degree from The University of Baltimore and an AA degree from Catonsville Community College where she graduated with honors. Ms. Shade is a Certified Cash Manager (CCM), a member of both the Association of Financial Professionals (AFP) and the Mid-Atlantic Treasury Management Association (MATMA). During her banking career, Ms. Shade has served in numerous professional affiliations including officer, board and instructor roles with The American Institute of Banking. Ms. Shade is a graduate of the Frederick County Chamber of Commerce Leadership Program and has been involved in the Frederick and Carroll County communities. She and her husband, Dave, together with their daughter, Stephanie, reside near Frederick in Woodbine.

Ms. Little also has 11 years of banking experience, including eight years with FCNB Bank, where she was Vice President, Commercial Lending. Prior to that, she had been with Chessie Federal Credit Union for two years, where she served as Assistant Branch Manager in Frederick. She holds a BS degree in Business and Finance from Mount Saint Mary's College. She also attended Frederick Community College, graduating with an AA degree in business administration. Ms Little is very involved in the Frederick community, and has been a Chairperson of the American Heart Association Heart Walk. She and her husband, Rick, together with their daughters, Julie and Taylor, reside in Woodsboro. Ms. Little is a native of Frederick County and is a member of St. Peter's Catholic Church in Libertytown.

It has already been announced that Frederick County bank is expected to open in the Fall of 2001 at 30 West Patrick Street and 1595 Opossumtown Pike. For further information about either this announcement or Frederick County Bank, please contact Raymond Raedy, a director of Frederick County Bank, at 301-620-1400.

Ramona C. Remsberg and George E. Dredden, Jr. named as Directors of
Frederick County Bank

John N. Burdette, Chairman of the Board for Frederick County Bank, announced today that Ramona C. Remsberg and George E. Dredden, Jr. have been appointed to the Board of Directors for the new bank.

"We are very pleased and honored to have these two talented business professionals join us on the Board of Directors. Both continue to demonstrate extraordinary skills in the business world as well as the local community and will bring a unique blend of experience to the leadership of Frederick County Bank," said Mr. Burdette.

Ms. Remsberg is currently in active retirement, and was most recently a member of the Board of Directors of FCNB Bank. Prior to that she served as Vice-Chairman of the Board of Directors of FCNB Bank for three years. During her 46 years of employment at FCNB Bank, she successfully rose to the position of President in January of 1989, and served three years in that position. Ms. Remsberg joined FCNB Bank as a clerk in 1945.

Ms. Remsberg has served the Frederick community in a number of capacities. She is currently a member of the Board of the United Way of Frederick, and prior to that served two years as Campaign Chairman of the United Way of Frederick and another two years as President. She is a member of the Hood College Board of Associates and Chairman of the Presidential Leadership Scholarship Committee. She is also a member of the Special Gifts Committee of FMH Development Council, and a Director of Homewood of Frederick, Maryland Inc. She previously served seven years on the Board for the Community Foundation of Frederick County and one year as Chairman of the Board. She is an active member of the United Church of Christ located in Jefferson, Maryland where she has been the organist and choir director for 35 years. Ms. Remsberg resides in Frederick, Maryland.

Mr. Dredden is currently President and Publisher of the County Globe Newspaper and was a founding director of First Bank of Frederick. He is also the founder and President of Sussex Group Management Consultants, LLC, which he started after 35 years of service with the Federal Government, and of Kent Group Investors, LLC, where he also serves as Resident Agent. Mr. Dredden graduated from Morgan State University with a degree in Biology.

Mr. Dredden is very involved in the local community, and is currently Secretary of Frederick Memorial Health Care System Board of Directors and is also Vice Chair of Buckingham’s Choice Board of Directors. He is currently a member of the Rotary Club of Frederick and has been a past President of the Chamber of Commerce of Frederick County, as well as a past Vice Chair of the Frederick County Planning Commission. He and his wife, Ruth, reside in Frederick County, and they are members of St. Johns the Evangelist Catholic Church in Frederick.

Frederick County Bank is anticipated to open in the Fall of 2001, with headquarters at 30 West Patrick Street and a branch office located at 1595 Opossumtown Pike. For further information, please contact Raymond Raedy, a director of Frederick County Bank, at 301-620-1400.

Jay House, Denise Guyton-Gaither, and Richard Davies to Join

Frederick County Bank and Terry Lee and Lori Cromwell to Join Frederick County Bank

Martin S. Lapera, President and Chief Executive Officer of Frederick County Bank, announced today that Jay M. House, Denise Guyton-Gaither, and Richard Davies have been appointed to management positions with the new bank.

Mr. House has been named Sr. Vice President of Operations, Ms. Guyton-Gaither has been appointed Vice President, Commercial Loans, and Mr. Davies has been appointed Vice President, Marketing. "We are very pleased to have been able to secure the talents of these banking professionals. They have solid experience meeting the needs of the local customer and are committed to providing excellent customer service to our target markets," said Mr. Lapera.

Mr. House has 19 years of banking experience, including over 16 years with FCNB Bank, where he was Vice President and Chief Auditor. Prior to that, he had been with the Bank of Brunswick, where he served in numerous capacities including accounts payable and regulatory and financial reporting. He holds a Bachelor of Arts in Economics from the University of Maryland. Mr. House is a Certified Bank Auditor, a Certified Financial Services Auditor, a Certified Regulatory Compliance Manager, and holds a certificate in Information Technology Auditing. Mr. House is very involved in the Frederick community, and is a member and past president of the Jefferson Ruritan Club, a member of the Sons of Amvets Post #9 in Middletown, a member of the Middletown Valley Athletic Association, where he has coached youth softball, basketball and soccer for the past six years, and a member and current Chairperson of the Congregation of the United Church of Christ in Middletown. He is a native of Frederick County and resides in Jefferson with his wife Roxanne and two daughters, Kelsey and Kallie.

Ms. Guyton-Gaither has over 15 years of banking experience, including nine years with FCNB Bank, where she was most recently Vice President, Commercial Loans, working with branch offices, as well as commercial loan staff, to increase commercial accounts and customer service. In her new position she will be responsible for small business lending. Ms. Guyton-Gaither’s banking experience includes residential mortgage lending, consumer lending and branch management; her focus has been on enhancing customer relations, marketing and sales in her region and she is well-versed in both personal and business financial products and services. She is a graduate of the Maryland Banking School (Maryland Bankers Association), the College of Business and Management at the University of Maryland, the American Institute of Banking’s Commercial Lending School, and Xerox University’s Commercial Lending School. Ms. Guyton-Gaither is active in the Frederick community, and is an affiliate member of the Frederick County Builders Association and Frederick County Association of Realtors, and is an active member of the Pleasant View Church of the Brethren. She and her two sons reside near Jefferson.

Mr. Davies has 11 years of banking experience, including four years with FCNB Bank, where he was Assistant Vice President, Product Development. Prior to that he had been with Farmers and Mechanics National Bank in Frederick for four years, where he served as Segment Manager, Marketing. He holds an MBA from Vanderbilt University and a B.S. degree from George Mason University.  Mr. Davies has been involved in the Frederick community, participating in Christmas in April, Bowl for Kids’ Sake, and Junior Achievement at Hillcrest Elementary School.  He and his wife, Lori, together with their daughter, Elizabeth, reside in Frederick, Maryland.

Frederick County Bank is expected to open in October with branches at 30 West Patrick Street and 1595 Opossumtown Pike. For further information about either this announcement or Frederick County Bank, please contact Raymond Raedy, a director of Frederick County Bank, at 301-620-1400.

PRESS RELEASE

Terry Lee and Lori Cromwell to Join Frederick County Bank

Martin S. Lapera, President and Chief Executive Officer of Frederick County Bank, announced today that Terrence P. Lee and Lori C. Cromwell have been appointed to management positions with the new bank.

Mr. Lee has been named Sr. Vice President, Commercial Lending and Ms. Cromwell has been appointed Assistant Vice President and Branch Manager. "We are very pleased to have been able to secure the talents of these banking professionals. They both have a solid understanding of the needs of the local customer and are committed to providing excellent customer service to our target markets," said Mr. Lapera.

Mr. Lee has 26 years of banking experience, including over 15 years with FCNB Bank, where he was Vice President, Commercial Lending, specializing in small business lending. Prior to that, he had been with The First National Bank of Maryland for over 10 years, where he served in numerous capacities including commercial lending, branch banking, consumer lending, branch operations and collections. He attended both Montgomery College and Frederick Community College. Mr. Lee is active in the Frederick community, and was previously on the board of Community Living for six years, where he held the position of treasurer. He has been a resident of Frederick since 1983.

Ms. Cromwell has 23 years of banking experience, during which time she served at FCNB Bank, where she was most recently Assistant Vice President and Branch Manager of the downtown Square Corner office. She also has over 10 years of consumer lending experience. Ms. Cromwell is a 1997 graduate of the Maryland Bankers School, a three-year program. Ms. Cromwell has been a member of the Tourism Council of Frederick County’s membership committee, a participant in bank-sponsored community events and has hosted elementary school field trips, providing presentations and bank tours of the historical downtown office. She and her husband Steve, together with their two sons, Kurtis and Sean, reside in Frederick. Ms. Cromwell is a native of Frederick County.

It has already been announced that Frederick County bank is expected to open in the Fall of 2001 at 30 West Patrick Street and 1595 Opossumtown Pike. For further information about either this announcement or Frederick County Bank, please contact Raymond Raedy, a director of Frederick County Bank, at 301-620-1400.

Frederick County Bank Reaches Minimum Capital Amount

John N. Burdette, Chairman of the Board for Frederick County Bank, announced today that Frederick County Bank has reached its minimum regulatory capital amount of $7 million. This figure is the minimum capital amount required by the Bank to enable it to open.

"We are very gratified to have attained, thanks to the subscriptions of approximately 300 investors, our minimum capital investment despite the four day closure of the financial markets. However, because the markets were closed due to recent tragic events, the Board has voted to extend the subscription period beyond September 14," said Mr. Burdette.

“The reason for the extension of the offering period is that there are subscription monies in transit that most likely would have otherwise been credited to the offering escrow account in a timely manner. We do not wish to penalize any potential investor for events out of their control, so the extension period will be in place until it appears that funds in transit have cleared. After that point is reached we will determine the ending date of the offering period. However, we will communicate the ending date one week in advance to potential investors,” Mr. Burdette continued.

Frederick County Bank is expected to open in October, 2001 at 30 West Patrick Street and 1595 Opossumtown Pike. For further information about either this announcement or Frederick County Bank, please contact Raymond Raedy, a director of Frederick County Bank, at 301-620-1400.

Frederick County Bank Announces End of Subscription Period

John N. Burdette, Chairman of the Board for Frederick County Bank, announced today that the subscription period to purchase shares of Frederick County Bank common stock will end on November 1, 2001.

"We are very pleased that we reached our minimum capital level of $7 million in just 52 days and now have in excess of $8 million in capital. We have been granted our regulatory approvals and subsequently received our certificate to commence business. I wish to sincerely thank the growing group of investors who have so far demonstrated their confidence in Frederick County Bank," said Mr. Burdette.

"Having passed these critical milestones, the bank decided to extend the original subscription period. This was done because the financial markets were closed due to recent tragic events and there were subscriptions in transit that would not have been received by the original closing date. Secondly, we continued to receive numerous inquiries from potential investors. The extension period enabled us to accommodate these parties. We have now established a final closing date for the subscription period: November 1, 2001," Mr. Burdette continued.

"Many investors have already taken action to become founding shareholders of Frederick County Bank, but there may be others who are not aware of the extension period. Interested parties can still become founding shareholders if they act before the extension period ends, and this would also be an opportunity for existing shareholders to invest additional funds as well. All subscriptions must be either postmarked by November 1 or delivered to our Administrative Offices at 405 West Seventh Street by 5:00 p.m. on that date," Mr. Burdette said in closing.

For further information about either this announcement of Frederick County Bank, please contact William R. Talley, Jr., Senior Vice President and Chief Financial Officer, 301-620-1400.

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