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Bank in works in Arundel.(Anne Arundel County Economic Development Corp. head Richard J. Morgan's joining of CommerceFirst Bancorp Inc.)
Former economic development chief will be at the helm
The former chief executive of Annapolis National Bank will be taking on his former institution and the rest of Anne Arundel County's lenders with a new community bank.
After abruptly resigning last week after a two-year stint as head of the Anne Arundel County Economic Development Corp., Richard J. Morgan said he will become president and CEO of CommerceFirst Bancorp Inc., a commercial bank that's slated to open in Annapolis next year.
Morgan is working with a group of investors from Anne Arundel, Howard and Prince George's counties on the new venture. The group incorporated the bank's holding company, but has not yet filed for federal regulatory approval. …
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