About Fairmount Bank
Corporate Philosophy
Build and professionally manage an organization founded on integrity,
consistency, dedication and respect for our customers, employees and our
community. Fairmount Bank will be managed at the highest levels of legal,
ethical and moral conduct.
Fairmount Bank can best service its stakeholders by being a consistently
profitable community oriented bank while continuing to expand its targeted
market area.
Mission Statement
Fairmount Bank is a professionally managed, market driven financial service
company dedicated to providing a wide range of financial services to people and
businesses in our designated market areas. Management will strive to enhance
franchise value; to maintain the confidence and support of our local community;
to provide appropriate deposit and loan products at competitive prices; to
maintain steady growth in total assets and to maintain profitability to retain a
sound base of equity capital while providing employees a rewarding work
environment.
History of Fairmount Bank
In
the 1800’s, immigrants passed through Baltimore’s Locust Point in numbers second
only to Ellis Island. These new-comers gravitated to sections of the city where
kinsmen kept alive the culture of their homeland. One such neighborhood grew in
a part of East Baltimore, where natives of Czechoslovakia and surrounding
eastern European countries preserved the language, religion and customs.
These immigrants required community oriented financial institutions to serve the
needs of this fast growing population. On August 23, 1879, six individuals met
on the second floor of Anton Rytina’s Bar at 1919 East Fairmount Avenue and
organized “The Fairmount and Chapel Streets Permanent Building, Savings and Loan
Assn No 1 Inc.” On October 20, 1879, the new organization was incorporated. It
had a total membership of 27. Thirty four dollars was collected for deposits.
Its first officers were: President – Anton Rytina; Vice President – Frances
Rorbel; Secretary – Josef Sott; and Treasurer – Jan Moravec. All records were
kept in the Czech language until 1948 at which time English was used.
In 1960, the name of the association was changed to “The Fairmount Savings and
Loan Association, Inc.” In 1963, the Association purchased a lot at the corner
of Philadelphia Road and Kahler Avenue in Rosedale, Maryland. That was also the
year the Association became insured by the Maryland Savings Share Insurance
Corporation. By 1970, the Association had moved its office to the lot on
Philadelphia Road.
In 1979, Fairmount celebrated its 100th Anniversary and received messages of
congratulations from President Jimmy Carter, the Assistant Secretary of the
Treasury, as well as the House of Representatives and the Maryland House of
Delegates.
The Savings and Loan crisis hit the State of Maryland in 1985 and the Board of
Directors authorized the bank to apply for the Federal Savings and Loan
Insurance program. The Board also authorized for the conversion of the bank from
a State chartered Savings Association to a Federally Chartered Savings Bank.
Upon approval, our name was changed to “Fairmount Federal Savings Bank.”
On May 1, 2009, we changed our name to Fairmount Bank while maintaining our
Federal Charter. This change in name signifies our desire to broaden and expand
our services and strengthen our presence in our community.
Please visit us at our new headquarters at 8216 Philadelphia Road in Rosedale,
which opened on September 12, 2009. The new headquarters and full service branch
office include a drive-thru banking facility and drive-thru ATM
machine.
The dynamic of our strong, well capitalized bank standing tall since 1879 will
form the foundation of the days to come, and will herald in the rich heritage of
the vision of our founders as a bank that was born to serve our community, a
bank built to endure, and a bank created to last.
Board of Directors
Joseph M. Solomon - President, CEO
William G. Yanke, CPA -
Chairman
|
|
Edward J. Lally |
| Mary Jean Craig |
Corporate Officers
|
Joseph M. Solomon |
- |
President |
| Jodi L.
Beal, CPA |
- |
Vice President, CFO,
Treasurer |
| Lisa A.
Cuddy |
- |
Vice President Bank Operations |
| Robert J.
Hopp |
- |
Assistant Vice President |
| Edward J.
Lally |
- |
Secretary |
