SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549


                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

                        Date of Report February 21, 2007



                             ANNAPOLIS BANCORP, INC.
                             -----------------------
             (Exact name of registrant as specified in its charter)


           Maryland                  000-22961                  52-1595772
           --------                  ---------                  ----------
(State or other jurisdiction    (Commission File No.)          (IRS Employer
      of incorporation)                                   Identification Number)


                  1000 Bestgate Road, Annapolis, Maryland 21401
                  ---------------------------------------------
              (Address of principal executive offices and zip code)


Registrant's telephone number, including area code: (410) 224-4455
                                                    --------------


                                 Not Applicable.
                                 ---------------
          (Former name or former address, if changed since last report)

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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations 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-14c))




Item 8.01 Other Events
----------------------

     On February 21, 2007, the Registrant announced a stock repurchase program
under which it will acquire up to 5% of its outstanding common stock. A press
release regarding the announcement is attached as Exhibit 99.1


Item 9.01 Financial Statements and Exhibits.
--------------------------------------------

(a)  Not applicable

(b)  Not applicable

(c)  Exhibits

Exhibit                  Description
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99.1                     Press Release issued February 21, 2007, filed herewith.



                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.


                                                         ANNAPOLIS BANCORP, INC.


Dated: February 21, 2007

                                                         /s/ Richard M. Lerner
                                                         -----------------------
                                                         Richard M. Lerner,
                                                         Chief Executive Officer




                                  EXHIBIT INDEX

Exhibit                  Description
-------                  -----------

99.1                     Press Release issued February 21, 2007