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<P align=center><FONT face=serif size=2><B><FONT face=serif size=5>UNITED
STATES<BR>SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR><B>WASHINGTON, D.C.
20549</B></FONT></P>
<P align=center><B><FONT face=serif size=5>FORM 8-K</FONT></B></P>
<P align=center><FONT face=serif size=2>CURRENT REPORT </FONT></P>
<P align=center><FONT face=serif size=2>PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934</FONT></P>
<P align=center><FONT face=serif size=2>DATE OF REPORT (DATE OF EARLIEST EVENT
REPORTED):&nbsp;<B> January 17, 2007</B></FONT></P>
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  <TR vAlign=top>
    <TD align=left width="10%"><FONT face=serif size=2>&nbsp;</FONT></TD>
    <TD align=middle><FONT face=serif size=2><B><FONT face=serif
      size=5>Harbor Bankshares Corp</FONT></B></FONT></TD>
    <TD align=left width="10%"><FONT face=serif size=2>&nbsp;</FONT></TD></TR>
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    <TD>
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    </TD>
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    <TD align=left width="10%"><FONT face=serif size=2>&nbsp;</FONT></TD>
    <TD align=middle><FONT face=serif size=2>(Exact name of registrant as
      specified in its charter) </FONT></TD>

    <TD align=left width="10%"><FONT face=serif
  size=2>&nbsp;</FONT></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>COMMISSION FILE
NUMBER<B>:&nbsp;&nbsp;</B><B><U></U></B></FONT></P>
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    <TD align=left width="10%">&nbsp;</TD>
    <TD align=middle width="35%"><FONT face=serif
    size=2><B>Maryland</B></FONT></TD>
    <TD align=left width="10%">&nbsp;</TD>

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      size=2><B></B></FONT></TD>
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    <TD width="10%"></TD>
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    </TD>
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    </TD>
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    <TD align=left width="10%">&nbsp;</TD>
    <TD align=middle width="35%"><FONT face=serif size=2>(State or other
      jurisdiction of incorporation or organization)</FONT></TD>
    <TD align=left width="10%">&nbsp;</TD>

    <TD align=middle width="35%"><FONT face=serif size=2>(I.R.S. Employer
      Identification No.)</FONT></TD>
    <TD align=left width="10%">&nbsp;</TD></TR></TABLE><BR><BR>
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    <TD align=left width="10%">&nbsp;</TD>
    <TD align=middle><FONT face=serif size=1>&nbsp;</FONT><FONT face=serif
      size=2><B>25 W. Fayette Street<BR><BR>Baltimore, Maryland 21201</B></FONT></TD>
    <TD align=left width="10%">&nbsp;</TD></TR>

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    <TD align=left width="10%">&nbsp;</TD>
    <TD align=middle>
      <HR noShade SIZE=1>
      <FONT face=serif size=2>&nbsp;</FONT></TD>
    <TD align=left width="10%">&nbsp;</TD></TR>
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    <TD align=left width="10%">&nbsp;</TD>
    <TD align=middle><FONT face=serif size=2>(Address and zip code of
      principal executive offices)</FONT></TD>

    <TD align=left width="10%">&nbsp;</TD></TR>
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    <TD align=left width="10%">&nbsp;</TD>
    <TD align=middle><FONT face=serif size=2>&nbsp;</FONT></TD>
    <TD align=left width="10%">&nbsp;</TD></TR>
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    <TD align=left width="10%">&nbsp;</TD>
    <TD align=middle><FONT face=serif size=2><B>(410) 528-1800</B></FONT></TD>

    <TD align=left width="10%">&nbsp;</TD></TR>
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    <TD align=left>&nbsp;</TD>
    <TD align=middle>
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    </TD>
    <TD align=left>&nbsp;</TD></TR>
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    <TD align=left width="10%">&nbsp;</TD>

    <TD align=middle><FONT face=serif size=2>(Registrant's telephone number,
      including area code)</FONT></TD>
    <TD align=left width="10%">&nbsp;</TD></TR></TABLE>
<P>&nbsp;</P>
<P align=left><FONT face=serif size=2>CHECK THE APPROPRIATE BOX BELOW IF THE
FORM 8-K FILING IS INTENDED TO SIMULTANEOUSLY SATISFY THE FILING OBLIGATION OF
THE REGISTRANT UNDER ANY OF THE FOLLOWING PROVISIONS:</FONT></P>
<DIV style="TEXT-INDENT: 3%">
<P align=left><FONT face=serif size=2><img src="emptybox.gif" border="0" width="12" height="12"> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</FONT></P>
<P align=left><FONT face=serif size=2><img src="emptybox.gif" border="0" width="12" height="12"> Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</FONT></P>
<P align=left><FONT face=serif size=2><img src="emptybox.gif" border="0" width="12" height="12">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))</FONT></P>
<P align=left><FONT face=serif size=2><img src="emptybox.gif" border="0" width="12" height="12">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))</FONT></P></DIV>
<P align=center><FONT face=serif size=2>1 of 2 </FONT></P>
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<TD align=left width="11%"><FONT face=serif size=2><B>Item
7.01</B></FONT></TD>
<TD align=left><FONT face=serif size=2><B>REGULATION FD DISCLOSURE</B></FONT></TD></TR>
<TR vAlign=top>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR></table>
<p align="left">
<font size="2" face="Times New Roman">At its annual meeting of shareholders on January 17, 2007, shareholders of Harbor Bankshares Corporation (&ldquo;Harbor&rdquo;), parent bank holding company for the Harbor Bank of Maryland, approved the proposed &ldquo;going private&rdquo; merger transaction. The purpose of the transaction is to reduce the number of shareholders of record to fewer than 300, so that Harbor may deregister its common stock and no longer be subject to the costs and other burdens of SEC registration. Over 70% of Harbor&rsquo;s voting common stock was voted in favor of the transaction.</font>
</p>
<p align="left">
<font size="2" face="Times New Roman">In the transaction, Harbor Merger Corporation, a wholly owned subsidiary of Harbor, will merge with and into Harbor, with Harbor surviving, and each of the shares held of record by a shareholder holding 100 or fewer shares of record of Harbor Common stock immediately prior to the effective time of the merger will be canceled and converted into the right to receive $31.00 in cash, without interest, upon surrender of the stock certificates. The shares of Harbor common stock held of record by holders of more than 100 shares will be unaffected by the merger.</font>
</p>
<p align="left">
<font size="2" face="Times New Roman">Shareholders who are entitled to receive cash will receive a notice and form with instructions for turning in their certificates. Shareholders should not send in their certificates until they are notified to do so in writing. </font>
</p>
<p align="left">
<font size="2" face="Times New Roman">The merger is expected to be effective at the close of business on January 31, 2007. </font>
</p>
<p align="left">
<font size="2" face="Times New Roman">At the annual meeting, Harbor shareholders also reelected four directors, each to serve for a three year term. </font>
</p>

<p>&nbsp;</p>
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<TD align=left width="11%"><FONT face=serif size=2><B>Item
8.01</B></FONT></TD>
<TD align=left><FONT face=serif size=2><B>OTHER EVENTS</B></FONT></TD></TR>
<TR vAlign=top>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR></table>
The information provided under Item 7.01 is also provided under this Item 8.01.
<p>&nbsp;</p>
<P align=center><FONT face=serif size=2><B>SIGNATURE</B></FONT></P>
<DIV style="TEXT-INDENT: 3%">
<P align=left><FONT face=serif size=2>Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, hereunto duly
authorized.</FONT></P></DIV>
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    <TD align=middle width="49%"></TD>
    <TD align=middle width="2%"></TD>
    <TD align=left colSpan=2><FONT face=serif size=2>Harbor Bankshares Corp</FONT></TD></TR>
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    <TD width="49%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD align=left width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD></TR>
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    <TD align=middle width="49%"></TD>
    <TD align=middle width="2%"></TD>
    <TD align=left width="10%"><FONT face=serif size=2>By:</FONT></TD>
    <TD align=left><FONT face=serif size=2>/s/ Teodoro J. Hernandez</FONT></TD></TR>
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    <TD align=left></TD>
    <TD align=left></TD>
    <TD align=left></TD>
    <TD align=left>
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  <TR vAlign=top>
    <TD align=left width="49%"></TD>
    <TD align=left width="2%"></TD>
    <TD align=left width="10%"><FONT face=serif size=2>Name:</FONT></TD>
    <TD align=left><FONT face=serif size=2>Teodoro J. Hernandez</FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left width="49%"></TD>
    <TD align=left width="2%"></TD>
    <TD align=left width="10%"><FONT face=serif size=2>Title:</FONT></TD>
    <TD align=left><FONT face=serif size=2>Treasurer</FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left width="49%"></TD>
    <TD align=left width="2%"></TD>
    <TD align=left width="10%"><FONT face=serif size=2>Date:</FONT></TD>
    <TD align=left><FONT face=serif size=2>January 18, 2007</FONT></TD></TR>
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    <TD align=left></TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD></TR></TABLE>
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{"company-data": {"conformed-name": "HARBOR BANKSHARES CORP", "cik": "0000889608", "assigned-sic": "6022", "irs-number": "521786341", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-20990", "film-number": "07539375"}, "business-address": {"street1": "25 WEST FAYETTE ST", "city": "BALTIMORE", "state": "MD", "zip": "21201", "phone": "4105281885"}, "mail-address": {"street2": "25 W FAYETTE ST", "city": "BALTIMORE", "state": "MD", "zip": "21201"}}
Prepared and Filed by St Ives Financial
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT
REPORTED):
January 17, 2007
Harbor Bankshares Corp
(Exact name of registrant as
      specified in its charter)
COMMISSION FILE
NUMBER
:
Maryland
(State or other
      jurisdiction of incorporation or organization)
(I.R.S. Employer
      Identification No.)
25 W. Fayette Street
Baltimore, Maryland 21201
(Address and zip code of
      principal executive offices)
(410) 528-1800
(Registrant's telephone number,
      including area code)
CHECK THE APPROPRIATE BOX BELOW IF THE
FORM 8-K FILING IS INTENDED TO SIMULTANEOUSLY SATISFY THE FILING OBLIGATION OF
THE REGISTRANT UNDER ANY OF THE FOLLOWING PROVISIONS:
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
1 of 2
Item
7.01
REGULATION FD DISCLOSURE
At its annual meeting of shareholders on January 17, 2007, shareholders of Harbor Bankshares Corporation ("Harbor"), parent bank holding company for the Harbor Bank of Maryland, approved the proposed "going private" merger transaction. The purpose of the transaction is to reduce the number of shareholders of record to fewer than 300, so that Harbor may deregister its common stock and no longer be subject to the costs and other burdens of SEC registration. Over 70% of Harbor's voting common stock was voted in favor of the transaction.
In the transaction, Harbor Merger Corporation, a wholly owned subsidiary of Harbor, will merge with and into Harbor, with Harbor surviving, and each of the shares held of record by a shareholder holding 100 or fewer shares of record of Harbor Common stock immediately prior to the effective time of the merger will be canceled and converted into the right to receive $31.00 in cash, without interest, upon surrender of the stock certificates. The shares of Harbor common stock held of record by holders of more than 100 shares will be unaffected by the merger.
Shareholders who are entitled to receive cash will receive a notice and form with instructions for turning in their certificates. Shareholders should not send in their certificates until they are notified to do so in writing.
The merger is expected to be effective at the close of business on January 31, 2007.
At the annual meeting, Harbor shareholders also reelected four directors, each to serve for a three year term.
Item
8.01
OTHER EVENTS
The information provided under Item 7.01 is also provided under this Item 8.01.
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, hereunto duly
authorized.
Harbor Bankshares Corp
By:
/s/ Teodoro J. Hernandez
Name:
Teodoro J. Hernandez
Title:
Treasurer
Date:
January 18, 2007