BankAnnapolis today broke ground on a new branch office to be located in the Waugh Chapel Towne Centre, a mixed use development now under construction in Gambrills, Maryland, just south of the existing Village at Waugh Chapel.

The new BankAnnapolis branch will join Wegmans, Target, and Regal Cinemas, as well as a mix of offices, retail stores and restaurants. The new development is located just 15 minutes from Annapolis in rapidly growing western Anne Arundel County.

"This is a natural expansion of our existing footprint, one that will enable us to broaden our brand and extend our geographic reach into the Crofton/Waugh Chapel market," said Richard M. Lerner, Chairman and CEO of BankAnnapolis. "Tremendous commercial and residential growth is coming to the surrounding area over the next few years, which makes this a promising growth opportunity for BankAnnapolis."

The new branch, which will offer both consumer and commercial banking services, will be a 3,500 square foot freestanding building with three drive-thru lanes, including a drive-up ATM. It will be located adjacent to Wegmans, with frontage on Rt. 3 and easy access to the shopping center entrances. The branch is scheduled to open in the fall.

"The Waugh Chapel Towne Centre will be a destination location and a hub of retail, commercial, and entertainment activity," said Lerner. "We're pleased to have the opportunity to offer our clients convenient access to a wide range of personalized, local banking services in this new location."

BankAnnapolis opened its last branch three years ago in the Annapolis Towne Center at Parole. The Bank currently has seven full-service branch offices serving Anne Arundel and Queen Anne's counties.

Vice President Tracy Smith, who has been with BankAnnapolis since 2006 and previously served as manager of its Edgewater branch, has been appointed manager of the new Waugh Chapel branch.

The project architect is Bignell Watkins Hasser of Annapolis and Gardiner & Gardiner Contracting, LLC of Crofton will serve as general contractor.

About BankAnnapolis

BankAnnapolis serves the banking needs of small businesses, professional concerns, and individuals through seven community banking offices located in Anne Arundel and Queen Anne's Counties in Maryland. The Bank, which is a subsidiary of Annapolis Bancorp, Inc. (NASDAQ: ANNB), was named 2011 Corporate Philanthropist of the Year by the Community Foundation of Anne Arundel County based on its direct support of local nonprofits, the impact of that support, success in motivating employees to make charitable contributions, and the CEO's philanthropic leadership and ability to encourage and motivate others to give back.

BankAnnapolis also received the 2011 Financial Services Award from the Annapolis and Anne Arundel County Chamber of Commerce for its innovation and leadership in the identification of financial products and services that best fit the needs of the community. For more information about BankAnnapolis visit www.bankannapolis.com or call 410-224-4455.

BankAnnapolis
Lori J. Mueller, 410-224-4455