Carroll Bancorp, Inc. is a holding company for Carroll Community Bank (the Bank), which is a state chartered commercial bank. Its business includes attracting and accepting deposits from the general public in the areas surrounding its offices and investing those deposits, together with funds generated from operations, primarily in one- to four-family residential mortgage loans and in commercial real estate loans. It offers a range of deposit products, including savings accounts, certificates of deposit, money market accounts, business and retail checking accounts, negotiable order of withdrawal (NOW) accounts and individual retirement accounts. It has two full service branches that each provides a drive-through facility and automated teller machine (ATM). The primary market areas it serves are in Carroll and Howard Counties in Maryland. On October 12, 2011, the Bank converted from a Maryland chartered mutual savings bank to a state chartered commercial bank.