Arundel Federal Named Top Mortgage Producer

Independent Banker magazine, published by the Independent Community Bankers Association (ICBA), recently recognized Glen Burnie-based Arundel Federal Savings Bank as the top mortgage loan producer in Maryland and the 26th-largest mortgage loan producer in the United States.

“Anytime you get a rating like that, we’re very, very pleased about it,” said George J. Behr Jr., president of Arundel Federal Savings Bank. “Since 1906, Arundel Federal’s mission has been to provide home loans to credit-worthy Marylanders and to service those loans after the sale. The ICBA’s recognition of our efforts is an honor that has been earned due to the dedication and hard work of our employees and board of directors.”

Arundel Federal Savings Bank, with total deposits of $401.5 million, operates six offices in Baltimore City and Anne Arundel County, including branches in Pasadena, Severna Park and Gambrills. The bank’s main philosophy and business plan is to take in savings and lend those savings dollars back into community.

“We have historically been a residential lender, and we don’t sell our loans,” said Behr. “We’ve been doing this type of lending ever since the bank started in 1906.”

Arundel Federal prides itself on being a truly local lender. “The bank only takes in deposits and makes loans to Maryland residents,” added Edward A. Lehwald, Arundel Federal’s assistant vice president and marketing manager. “This gives us a deep understanding of the Maryland real estate market and helps us help our borrowers get the right loan at the right price.”

One change Behr discussed was the bank’s plan to expand further into local commercial real estate lending, which started earlier this year. Behr acknowledged Arundel Federal’s very strong financial position to support its latest endeavor, adding the bank’s actual capital is more than three times the level required by federal regulations, which has earned the bank a reputation for consistently being rated as one of the safest financial institutions. “We’re in a very strong financial position,” Behr confirmed. “Our strength is in our capital.”

Arundel Federal Savings Bank had its origins in Maryland more than a hundred years ago when a small group of citizens and local businessmen in the growing community of Brooklyn formed Arundel Perpetual Building and Loan Association (now Arundel Federal Savings Bank) in the corner of a lumber company’s storeroom at Sixth Street and Patapsco Avenue. Their mission was to finance homes for the local citizenry through savings dollars invested by the community. Today, Arundel Federal Savings Bank prides itself on offering personal, friendly service where there are no 800 numbers and any customer can call and speak to the president directly when needed.

The bank continues to adhere to a conservative management style and has retained a strong base of directors, officers and employees. In recent years, the bank has added many new products and services to keep pace with the growing needs of customers and technological advancements. Its new website features added links, calculators and a greatly expanded mortgage loan section that exemplifies the bank’s commitment to meet the needs of its customers.

The bank offers personal and business checking accounts, savings accounts, certificates of deposit and Individual Retirement Accounts. It also offers commercial loans, home mortgages, home equity loans, auto and boat loans, and personal loan products.

To promote safety and conservation, the bank sponsors free paper shredding and electronics recycling events in the area throughout the year as a community service. A schedule of upcoming events is available on Arundel Federal’s website at www.arundelfederal.com.

Coming up on the calendar, Arundel Federal’s ninth-annual golf outing will be on August 28 at the Walden Country Club in Crofton. Arundel Federal is working with Anne Arundel Community College and proceeds from the outing will go toward helping AACC raise funds for its scholarship program.