Patapsco Bank Names New President/CEO

By Marge Neal

Patapsco Bancorp, parent company of The Patapsco Bank, has appointed Phil Phillips as president and chief executive officer of the company, pending final regulatory approval.

Phillips will replace Michael J. Dee, who has resigned from both positions with the bank, according to a statement from the company.

The Board of Directors in the statement thanked Dee for his "fine service" to the company during a "very difficult time."

"We are thrilled to welcome Phil Phillips as our president and chief executive officer," Board Chairman Thomas P. O'Neill said in the statement. "We believe his extensive experience in banking, including in particular his experience in lending, will help put us back on the road to long-term success."

Phillips previously served as the bank's executive vice president, chief credit officer and senior lending officer.

Dee will remained employed by the bank for a transitional period, according to the statement.

The Patapsco Bank has branches in Dundalk, Glen Arm and Carney in Baltimore County and in Baltimore city's Hampden neighborhood.