The Maryland Office of Financial Regulation has announced the addition of Michael Sprouse as the new Deputy Commissioner for Depository Supervision.

In this position, Sprouse oversees the Office’s supervision and regulation of all Maryland state-chartered banks, credit unions and trust companies, ensuring that the financial institutions are operating safely and soundly for the benefit of all of the citizens of Maryland and adhering to all state laws and regulations.

Sprouse also manages the Office’s Corporate Activities functions, including inquiries about and response to the formation of new institutions or the undertaking of new activities by existing state-chartered institutions. Additionally, he has oversight of the Office’s administrative and personnel-related activities.

Sprouse has worked in the banking industry in Maryland for over 30 years, primarily focused on lending and loan administration. Prior to joining the Office on November 1, 2023, he worked as the Chief Retail Banking Officer at The Peoples Bank located in Chestertown, and Senior Vice President of Loan Administration/Consumer Lending at Harford Bank for 16 years.