Charles Walter Cole Jr

Charles Walter Cole, Jr.

Banker, Hiker, and Sports Enthusiast

11/11/35 - 5/10/25

Charles Walter Cole, Jr. (89), retired Baltimore banker and community leader, died of pneumonia surrounded by his family on May 10, 2025. He was born in Baltimore, son of Elizabeth Silver Cole and Charles Walter Cole.

Mr. Cole was a graduate of the Gilman School, Washington and Lee University, and the University of Maryland School of Law.

Mr. Cole spent thirty-four years with First Maryland Bancorp and the First National Bank of Maryland. He served as President (1977-1994) and Chief Executive Officer (1984-1994). He was also Chief Administrative Officer and a Director of First National Bancorp. During the ten years that Mr. Cole held the role of CEO, First Maryland's compounded growth rate exceeded twenty percent-an unmatched record among the largest hundred bank holding companies in the country. After retiring from the bank, Mr. Cole was a Managing Director and Vice Chairman at Brown Advisory. Following that, he served as Chairman of the Board, President, and CEO of Legg Mason Trust Company (now 1919 Investment Counsel).

Mr. Cole served as a trustee for numerous institutions, including the University of Maryland Board of Regents, the University of Maryland at Baltimore, the University of Maryland Foundation, the Allied Irish Banks of Dublin, Ireland, and Provident Bank of Maryland. He was President of the Elkridge Club (1991-1998) and a member of the boards of the Center Club, the Greater Baltimore Committee, the Medical Eye Bank, the Maryland Chamber of Commerce, the Maryland Zoological Society, the Governor's Maryland High Tech Roundtable, the Baltimore Symphony Orchestra, the Maryland Institute College of Art, and Sinai Hospital.

Mr. Cole was chosen by Governor Harry R. Hughes to represent the financial community on the Governor's Initial Trade Mission to the People's Republic of China. That visit resulted in the establishment of the first correspondent banking relationship between a Chinese bank and a bank in this region. In 1982, Mr. Cole served as Vice Chairman of the United Way of Central Maryland Campaign. He was awarded the Henry A. Rosenberg Sr. Distinguished Citizen's Award by the Boy Scouts of America in December 1992.

Mr. Cole loved investments and served on investment committees at the University of Maryland Foundation, MedStar, Sheppard Pratt, Calvert School, Dickinson College, Goldseker, and the France-Merrick Foundation.

An avid sports fan, Mr. Cole was delighted to have lived during the eras of Ted Williams, Johnny Unitas, Otto Graham, Raymond Berry, Bill Russell, Michael Jordan, Sugar Ray Robinson, Poncho Gonzales, Bjorn Borg, Reinhold Messner, and Secretariat.

He shared his passion for athleticism and adventure with his family. Mr. Cole, his wife, two daughters, and five grandchildren have hiked Tuckerman's Ravine on Mount Washington in New Hampshire many times and have done extensive trekking in Switzerland over the years.

In later years, Mr. and Mrs. Cole considered their second home to be the Hillsboro Club in Florida, where he served as Treasurer for ten years. The Coles enjoyed many years of tennis and croquet with the Hillsboro community.

Mr. Cole's highest priority was his deep devotion to his family. His greatest pride was his wife, children, and grandchildren, and the beautiful life they built together.

Mr. Cole was preceded in death by his parents, Charles and Elizabeth Cole, and his sisters Elizabeth Vardell and Anne Cromwell. He is survived by his beloved wife of 64 years, Mary Cole (Riggs); daughters Bee (Gene) Raymond and Kathy (Scott) Liotta; grandchildren Kenzie (Frank) Marone, Charles "Riggs" (Nicole) Raymond, Maclean (Drew) Liotta, Liza Liotta, Ellie Raymond; and a great-grandson, Jack Marone. He was excited to welcome another great-grandchild in August.

A private graveside service will be held for the family. In lieu of flowers, contributions may be sent to St. Thomas Church in Owings Mills, Maryland.