Title 5. Banking Institutions -- General Provisions — Subtitle 2. Examinations and Reports
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 5-201 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 2. Examinations and Reports
§ 5–201LinkCopy Citation
(a)
An examiner shall visit each banking institution and examine its business:
(1)
At least once during each calendar year, unless the Commissioner determines that, during a calendar year, an examination is unnecessary, in which event an examination shall occur no less frequently than once every 18 months;
(2)
When asked to do so by the board of directors of the institution; or
(3)
At any other time that the Commissioner considers necessary.
(b)
The examiner shall determine:
(1)
The condition of the institution; and
(2)
Whether it is complying with the law.
(c)
During an examination, the examiner, in the presence of an officer of the banking institution, shall have access to all of the vaults and records of the institution.
Md. Code Ann., Fin. Inst. § 5-202 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 2. Examinations and Reports
§ 5–202LinkCopy Citation
(a)
The Commissioner or deputy Commissioner may:
(1)
Summon any officer, manager, trustee, employee, or agent of any banking institution and any other witness that the Commissioner thinks proper;
(2)
Administer an oath to that person; and
(3)
Question that person about the affairs of the institution.
(b)
The Commissioner or deputy Commissioner may not delegate the powers granted by subsection (a) of this section.
(c)
(1)
A person may not:
(i)
Obstruct the Commissioner or any person acting for the Commissioner in the performance of the duties of the Commissioner; or
(ii)
Refuse to appear or testify without good cause when summoned under this section.
(2)
Any person who violates any provision of this subsection is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000 or imprisonment not exceeding 1 year or both.
Md. Code Ann., Fin. Inst. § 5-203 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 2. Examinations and Reports
§ 5–203LinkCopy Citation
(a)
(1)
In this section the following words have the meanings indicated.
(2)
“Branch” means a deposit–taking office of a banking institution in the State that is open to the public as of December 31 of the calendar year immediately preceding a request for an assessment offset credit.
(3)
“De novo branch” means a deposit–taking office of a banking institution in the State that was opened to the public for the first time during the calendar year immediately preceding a request for an assessment offset credit that:
(i)
Was originally established by the banking institution as a branch; but
(ii)
Did not become a branch of the banking institution as a result of:
(1)
The acquisition by the banking institution of an insured depository institution or a branch of an insured depository institution; or
(2)
The conversion, merger, or consolidation of an insured depository institution or a branch of an insured depository institution.
(4)
“Deposits” means deposits originated and housed at a branch located in a low– to moderate–income tract as reported by a banking institution to the Federal Deposit Insurance Corporation each year as of December 31.
(5)
“Low– to moderate–income tract” means a census tract delineated by the U.S. Bureau of the Census in the most recent decennial census as published by the Federal Financial Institutions Examination Council that corresponds to low– to moderate–income level classifications as defined by the regulation of the Federal Reserve Board implementing the federal Community Reinvestment Act, 12 C.F.R. § 228.12.
(6)
“Maryland Opportunity Account” means a transaction account offered by a banking institution to customers that meets standards annually determined by the Commissioner that promote fair and equal access to financial services.
(b)
The Commissioner shall impose annual assessments on each banking institution as provided in this section to cover the expense of regulating banking institutions.
(c)
(1)
Except as provided in paragraph (2) of this subsection, the Commissioner shall assess each banking institution the sum of:
(i)
$8,000; plus
(ii)
(1)
12 cents for each $1,000 of the assets of the institution over $50,000,000, but not more than $250,000,000;
(2)
10 cents for each $1,000 of assets over $250,000,000, but not more than $500,000,000;
(3)
9 cents for each $1,000 of assets over $500,000,000, but not more than $1,000,000,000;
(4)
8 cents for each $1,000 of assets over $1,000,000,000, but not more than $10,000,000,000; and
(5)
7 cents for each $1,000 of assets over $10,000,000,000.
(2)
If a banking institution is not in the business of accepting deposits or retaining funds in a deposit account as defined in § 5–509 of this title, the Commissioner shall assess the banking institution the sum of:
(i)
$5,000; plus
(ii)
(1)
(0)
3 cents for each $1,000 of managed assets held in a fiduciary capacity up to $5,000,000,000;
(2)
(0)
2 cents for each $1,000 of managed assets held in a fiduciary capacity over $5,000,000,000, but not more than $20,000,000,000;
(3)
(0)
1 cent for each $1,000 of managed assets held in a fiduciary capacity over $20,000,000,000 up to $27,500,000,000;
(4)
(0)
2 cents for each $1,000 of nonmanaged and custodial assets held in a fiduciary capacity up to $5,000,000,000; and
(5)
(0)
1 cent for each $1,000 of nonmanaged and custodial assets held in a fiduciary capacity over $5,000,000,000 up to $20,000,000,000.
(3)
The assessments shall be based on assets stated in a banking institution’s most recent financial report.
(d)
(1)
A well–capitalized banking institution with a composite CAMELS rating of 1 or 2 may file with the Commissioner a request for an assessment offset credit of:
(i)
12 cents for each $1,000 of deposits in a de novo branch located in a low– to moderate–income tract in the State for the first 5 years after the date the branch opened; or
(ii)
6 cents for each $1,000 of deposits in a branch located in a low– to moderate–income tract not to exceed the cap set by the Commissioner by December 31 of the calendar year immediately preceding the request for an assessment offset credit.
(2)
In addition to an assessment offset credit under paragraph (1) of this subsection, a well–capitalized banking institution with a composite CAMELS rating of 1, 2, or 3 may file with the Commissioner a request for an assessment offset credit of:
(i)
$5,000 on receiving the Commissioner’s initial approval that the banking institution offers at least one Maryland Opportunity Account; and
(ii)
$3,000 for each year thereafter that the banking institution offers at least one Maryland Opportunity Account that, as determined by the Commissioner, remains in active use by the banking institution’s customers.
(e)
Notwithstanding subsection (c) of this section, for a banking institution with a composite CAMELS rating of 3, 4, or 5 for its most recent examination, the annual assessment imposed under this section shall be increased by an additional 25%.
(f)
A banking institution shall pay the assessment imposed under this section to the Commissioner on or before the April 15 after it is imposed.
(g)
The Commissioner may designate a successor index for the low– to moderate–income tract if the Federal Financial Institutions Examination Council tract income level data is no longer published.
Md. Code Ann., Fin. Inst. § 5-204 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 2. Examinations and Reports
§ 5–204LinkCopy Citation
Instead of making an examination under this subtitle, the Commissioner may accept a copy of the report of a reasonably recent examination of the banking institution by a federal banking authority.
Md. Code Ann., Fin. Inst. § 5-205 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 2. Examinations and Reports
§ 5–205LinkCopy Citation
The directors of a banking institution shall have a certified public accountant audit the institution at least once every 5 years.
Md. Code Ann., Fin. Inst. § 5-206 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 2. Examinations and Reports
§ 5–206LinkCopy Citation
(a)
At least twice a year, the Commissioner shall ask every banking institution to submit a financial report that shows in detail the assets and liabilities of the institution as of the close of the business day that the Commissioner specifies.
(b)
The Commissioner shall:
(1)
Provide forms that conform as closely as practicable to the forms that the federal banking authorities use; or
(2)
Accept from a banking institution a copy of a reasonably recent report that the institution submitted to a federal banking authority.
(c)
(1)
Within 30 days after a banking institution receives the request for a financial report, the institution shall submit the report.
(2)
Each report shall be signed and verified by the president, vice president, cashier, or treasurer of the banking institution.
(d)
Upon the written request of a banking institution, the Commissioner may permit the financial reports required by this section to be electronically submitted provided that:
(1)
The appropriate federal banking authority has approved electronic submission of the report as satisfactory for its requirements;
(2)
The report is submitted through a federally approved vendor; and
(3)
The banking institution retains, for at least 2 years, a copy of the report, signed and verified by the president, vice president, cashier, or treasurer of the banking institution.
Md. Code Ann., Fin. Inst. § 5-206.1 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 2. Examinations and Reports
§ 5–206.1LinkCopy Citation
(a)
Within 30 days of receipt, a national banking association located in the State, a banking institution, or an other-state bank that maintains a branch in this State shall submit to the Commissioner a copy of the public portion of its most recent Community Reinvestment Act performance evaluation prepared by the federal regulatory agency that examines the association, institution, or bank, together with a copy of any written response to the evaluation prepared by the association, institution, or bank for its public Community Reinvestment Act file.
(b)
(1)
Upon request, the Commissioner shall make available to the public a copy of the documents submitted under this section.
(2)
The Commissioner may charge a reasonable fee to a person requesting a copy to help defray the costs of providing copies of the documents to the public.
Md. Code Ann., Fin. Inst. § 5-207 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 2. Examinations and Reports
§ 5–207LinkCopy Citation
(a)
At any time that the Commissioner considers necessary, the Commissioner may ask a banking institution or an other-state bank that maintains a branch in this State to submit a special financial report.
(b)
Each report under this section shall be made in the same manner as provided in § 5-206 of this subtitle.
Md. Code Ann., Fin. Inst. § 5-208 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 2. Examinations and Reports
§ 5–208LinkCopy Citation
(a)
If a banking institution or an other–state bank fails to make any report or submit proof of publication as required by this article, the banking institution or other–state bank is subject, in the discretion of the Commissioner, to a civil penalty not exceeding $500 for each day that the report or proof is overdue.
(b)
The Commissioner may institute proceedings to enforce this section.
Md. Code Ann., Fin. Inst. § 5-210 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 2. Examinations and Reports
§ 5–210LinkCopy Citation
An examiner shall have access to all the records of a subsidiary savings bank, its mutual holding company, or other related entity including the records of any controlling person, director, officer, agent, or employee of the subsidiary savings bank, its mutual holding company, or other related entity that relate to the business of the subsidiary savings bank, its mutual holding company, or other related entity.