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Howard Bancorp board OKs common share increase

The board of Ellicott City, Md.-based Howard Bancorp Inc. approved an amendment to the company's articles of incorporation that would increase its aggregate authorized common stock to 20 million shares from 10 million shares.

As a result, the total authorized capital stock of the company will increase from 15 million shares (10 million common, 5 million preferred) to 25 million shares (20 million common, 5 million preferred).

The increase, which does not need shareholder approval, has also been filed with the Maryland State Department of Assessments and Taxation.

The articles of amendment became effective Jan. 23.