Today Bay National Bank in Lutherville was closed by Federal Regulators.

It will re-open on Monday as Bay Bank. Bay Bank is also located in Lutherville.

This is the fourth Maryland bank to close in the past two years, according to the Baltimore Sun.

Bay National Bank customers will be able to access their money over the weekend, and won’t have to worry that checks will not go through, as they will be honored. People who have Bay National Bank mortgages will continue to pay their mortgages as usual. All Bay National Bank customers should wait for notification from Bay Bank before making any changes, as it may take some time to get the systems switched over.

Bay National Bank in Lutherville was FDIC insured, so insured deposits are still available. The FDIC estimates that this closure will cost the Deposit Insurance Fund approximately $17.4 Million.