Market Overview

Howard Bancorp, Inc. Added to the Russell 2000 Stock Index

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Howard Bancorp, Inc. (NASDAQ:HBMD), the parent company of Howard
Bank
, a locally owned community bank serving businesses,
professionals and individuals in the Greater Baltimore area, announced
today that it has been named to the Russell 2000 stock index.

The listing on the closely watched Russell 2000, which measures the
performance of 2,000 small-cap companies in the United States,
recognizes the growth in Howard Bancorp's market capitalization – total
shares outstanding multiplied by its current stock price – which climbed
to nearly $185 million on May 31, 2017, up 75% percent since the
beginning of the year, and its stock price has risen 25 percent over the
same period.

"The listing on the Russell 2000 index reflects the increased value of
the market capital levels we have attained in support of our
consistently executed regional growth strategy to be the go-to
commercial bank in greater Baltimore," said Mary Ann Scully, President
and CEO of Howard Bancorp. "But even more important than what it
reflects about our history, and positive market reception is the value
it provides to shareholders of our currency. Additional visibility,
access, and liquidity often accompany inclusion in the Russell 2000."

The rebalanced Russell Global, Russell 1000, Russell 2000, Russell 3000,
Russell Midcap, and Russell Microcap Indexes began trading on June 26,
2017.

Annual Russell indexes reconstitution captures the 4,000 largest U.S.
stocks as of the end of May, ranking them by total market
capitalization. Membership in the Russell 3000®, which remains in place
for one year, means automatic inclusion in the large-cap Russell 1000®
Index or small-cap Russell 2000® Index as well as the appropriate growth
and value style indexes. FTSE Russell determines membership for these
indexes primarily by objective, market-capitalization rankings, and
style attributes.

Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for active investment
strategies. Approximately $8.4 trillion in assets are benchmarked to the
Russell U.S. indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.

For more information on the Russell 2000® Index and the
Russell US Indexes reconstitution, go to the "Russell Reconstitution"
section on the FTSE
Russell website
.

With over 300 employees Howard Bank has made significant strides in the
past two-and-a-half years. The bank:

  • Raised $41.4 million in capital in an oversubscribed offering in
    January 2017.
  • Topped $1 billion in assets in the third quarter of 2016.
  • Closed a private placement with several highly regarded institutional
    bank investors, including Baltimore-based T. Rowe Price in 2015.
    The placement resulted in the issuance of 2.2 million shares of stock,
    which increased capital by $25 million.
  • Closed on an acquisition of Baltimore-based Patapsco Bancorp, Inc.,
    creating the largest publicly traded bank headquartered in the Greater
    Baltimore in the third quarter of 2015.
  • Purchased most assets and all the deposits of troubled Rising Sun,
    Md.-based NBRS Financial Bank in an FDIC assisted transaction that
    added five branches, roughly $180 million in total assets and $183
    million in total deposits in October 2014.

"Howard Bancorp and Howard Bank are in a strong book capital position
and a strong market capital position," Ms. Scully said. "We look forward
to leveraging this capital and market recognition through continued
organic growth and other new opportunities that will keep us at the
forefront of banking in the region."

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