American Bank Holdings, Inc. v. Kavanagh

American Bank Holdings, Inc., Petitioner, is engaged in the business of originating, making, and selling residential mortgage loans. Brian Kavanagh and Jeffrey Weber (collectively “Respondents”) were employed by American as co-branch managers operating an office located at 9500 Harford Road, Baltimore, as well as originating residential mortgage loans. Respondents executed similar “Co-Branch Manager Employment Agreement^]” with American, which, in relevant part, provided that American was to establish a “loss reserve”1 account “funded with funds earned by the Employee.” The amount to be…