Exhibit 99.2

UNAUDITED PRO FORMA COMBINED CONDENSED FINANCIAL STATEMENTS

On August 28, 2015, Howard Bancorp, Inc. (the "Company"), acquired Patapsco Bancorp, Inc. (“Patapsco”). The following unaudited pro forma combined balance sheets at June 30, 2015 and unaudited pro forma condensed combined statements of operations for the six months ended June 30, 2015 and twelve months ended December 31, 2014, illustrate the effect of the acquisition of Patapsco with and into the Company (the “Patapsco Acquisition”).

The unaudited pro forma condensed combined balance sheet gives effect to the Patapsco Acquisition based on the historical balance sheets of the Company and Patapsco at June 30, 2015 as if it occurred on that date. The Company's balance sheet information was derived from its unaudited balance sheet at June 30, 2015 that was included in its Quarterly Report on Form 10-Q for the quarter then ended, which was filed with the Securities and Exchange Commission on August 13, 2015. The balance sheet information for Patapsco was derived from its unaudited balance sheet that is included as part of Exhibit 99.2 to this Current Report on Form 8-K, as amended (this “Report”). The pro forma adjustments are described in the accompanying notes presented on the following pages.

The unaudited pro forma condensed combined statements of operations for the Company and Patapsco for the six months ended June 30, 2015 and the year ended December 31, 2014 give effect to the Patapsco Acquisition as if it had occurred on January 1, 2015 and January 1, 2014, respectively. The historical results of the Company were derived from its unaudited condensed consolidated financial statements for the six months ended June 30, 2015 that were included in its Quarterly Report on Form 10-Q for the quarter then ended, filed on August 13, 2015, and its audited consolidated statement of operations for the year ended December 31, 2014 that was included in its Annual Report on Form 10-K for the year then ended, filed on March 27, 2015. The historical results of Patapsco were derived from its audited consolidated statement of operations for their fiscal year ended June 30, 2015, which are included as part of Exhibit 99.1 to this Report, and its unaudited consolidated statement of operations for the period ended December 31, 2014. The adjustments for the unaudited pro forma combined condensed statements of operations for the six months ended June 30, 2015 and for the year ended December 31, 2014 were prepared assuming the Patapsco Acquisition was completed on January 1, 2015 and January 1, 2014, respectively. The pro forma adjustments are described in the accompanying notes presented on the following pages.

As required by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 805-Business Combinations, we have used the acquisition method of accounting and adjusted the acquired assets and liabilities of Patapsco to fair value as of the balance sheet date. Under this method, we will record Patapsco’s assets and liabilities as of August 28, 2015, the date of the acquisition, at their respective fair values and add them to those of the Company. The unaudited pro forma adjustments, including the allocations of the purchase price, are preliminary and have been made solely for the purpose of providing unaudited pro forma condensed consolidated financial information. The actual amounts recorded as of the completion of the Patapsco Acquisition may differ materially from the information presented in these unaudited pro forma condensed combined financial statements as a result of both changes in the balance sheet between the June 30, 2015 pro forma date and the acquisition date of August 28, 2015 as well as the finalization of the valuation analyses.

The following unaudited pro forma condensed combined financial statements have been prepared for illustrative purposes only and are not necessarily indicative of the consolidated financial position or results of operations in future periods or the results that actually would have been realized had the Company and Patapsco been combined during the specified periods. The notes to the unaudited pro forma combined consolidated financial statements describe the pro forma amounts and adjustments presented below. THIS PRO FORMA DATA IS NOT NECESSARILY INDICATIVE OF THE OPERATING RESULTS THAT THE COMPANY WOULD HAVE ACHIEVED HAD IT COMPLETED THE PATAPSCO ACQUISITION AS OF THE BEGINNING OF THE PERIODS PRESENTED AND SHOULD NOT BE CONSIDERED AS REPRESENTATIVE OF FUTURE OPERATIONS.

In connection with the acquisition, the Company incurred certain transactional and other acquisition related costs and is currently working to consolidate the operations of Patapsco. We have not included any of the costs incurred or projected after June 30, 2015 into the combined condensed pro forma financial statements that follow. We continue to assess the two companies’ personnel, premises, equipment, computer systems and service contracts to determine where we may take advantage of redundancies. We will record any additional cost associated with such decisions as incurred and have not included them in the pro forma adjustments to the pro forma consolidated statements of operations. We also have not included any potential operational or other savings in the pro forma consolidated statements of operations and there are no assurances that we will realize these savings in the future.

Unaudited Pro Forma Combined Condensed Balance Sheet

June 30, 2015*

* Assumed date of Patapsco Acquisition for pro forma combined condensed balance sheet presented is June 30, 2015.

Unaudited Pro Forma Combined Condensed Statement of Operations

For the six months ended June 30, 2015*

* Assumed date of Patapsco Acquisition for pro forma combined condensed statement of operations presented is January 1, 2014.

Unaudited Pro Forma Combined Condensed Statement of Operations

For the year ended December 31, 2014*

* Assumed date of Patapsco Acquisition for pro forma combined condensed statement of operations presented is January 1, 2014.

NOTES TO UNAUDITED PRO FORMA COMBINED CONDENSED FINANCIAL STATEMENTS

The unaudited pro forma combined consolidated financial information is based upon the assumption that the total number of shares of Patapsco common stock immediately outstanding prior to the completion of the Patapsco Acquisition would be 1,974,843 and utilizes the exchange ratio of 0.3547 for 80% of Patapsco’s outstanding shares and cash consideration of $2.01 million. This would result in the issuance of 560,381 shares of Company common stock with an estimated fair value of $8.04 million, for a total estimated purchase price of $10.1 million. The final exchange ratio was established in accordance with the merger agreement. The final allocation of the purchase price was determined after the Patapsco Acquisition was completed and additional analyses are performed to determine the fair values of Patapsco’s tangible and identifiable intangible assets and liabilities as of the date the Patapsco Acquisition was completed. The final adjustments may be materially different from the unaudited pro forma adjustments presented herein. The unaudited pro forma combined consolidated financial information has been prepared to include the estimated adjustments necessary to record the assets and liabilities of Patapsco at their respective fair values and represents management’s best estimate based upon the information available at this time. The pro forma adjustments included herein are subject to change as additional information becomes available and as additional analyses are performed. Such adjustments, when compared to the information shown in this document, may change the amount of the purchase price allocation to goodwill while changes to other assets and liabilities may impact the statement of operations due to adjustments in the yield and/or amortization/accretion of the adjusted assets and liabilities.

The total estimated purchase price for the purpose of this unaudited pro forma combined consolidated financial information is $10.1 million. Goodwill is created when the purchase price consideration exceeds the fair value of the assets acquired or a bargain purchase gain results when the current fair value of the assets acquired exceeds the purchase price consideration. For purposes of this analysis as of June 30, 2015, goodwill of $216 thousand results from the transaction; however, the final purchase accounting analysis will be performed as of the Patapsco Acquisition date and these amounts are subject to change based on operations subsequent to June 30, 2015 as additional information becomes available and as additional analyses are performed. The following table provides the calculation and allocation of the purchase price used in the pro forma financial statements and a reconcilement of pro forma shares to be outstanding.

Summary of Purchase Price Calculation and Goodwill Resutling from Merger

And Reconciliation of Pro Forma Shares Outstanding at June 30, 2015

($ in thousands except share and per share data)

COMPARATIVE PER SHARE DATA

The following table summarizes per share information for the Company and Patapsco on a historical basis and on a pro forma combined basis.

The pro forma per share information gives effect to the Patapsco Acquisition had it occurred on the dates presented, in the case of the book value data, as if the Patapsco Acquisition had occurred on June 30, 2015, and in the case of earnings per share data, as if the Patapsco Acquisition had occurred on January 1, 2015 and January 1, 2014 for the six months ended June 30, 2015 and year ended December 31, 2014, respectively.

The pro forma per share information assumes that the Patapsco Acquisition is accounted for using the acquisition method of accounting. As explained in more detail in the “NOTES TO THE UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION” section, the pro forma financial adjustments record the assets and liabilities acquired in the Patapsco Acquisition at their estimated fair values at the acquisition date and are subject to adjustment as additional information becomes available.

The following historical and pro forma per share information is derived from and should be read in conjunction with the historical financial statements and related notes of Patapsco which are included within this document and of the Company which are available through the SEC's website at http://www.sec.gov. The pro forma per share information below is presented for illustrative purposes only and is not necessarily indicative of the income per share and book value per share that would have occurred if the Patapsco Acquisition had been completed as of the beginning of the periods presented, nor is it necessarily indicative of the future operating results or financial position of the combined company.