Face Time for December 2017

Family Heritage Trust Co. FREDERICK, Md. — Wanda Mounts has been promoted to Family Heritage Trust Co.’s vice president of trust administration, which correlates with her increased responsibilities in administering individual and business accounts. Mounts has served as the primary trust administrator for FHTC since the organization opened its doors in January 2008. She earned her Bachelor of Science degree in business administration from Shepherd University and received her certified trust and financial adviser certification from ABA National Graduate Trust School at Northwestern University. Middletown Valley Bank MIDDLETOWN, Md. — Brian Ropp recently became chief financial officer of Middletown Valley […]

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On the Books

Multimillion-dollar deals in deed transfers Here’s a look at several large commercial real estate transactions that recently closed in the Crossroads area. The map above shows details about some of those deals, from a $9.5 million transaction for a building in Chambersburg, Pa., to a $740,000 agreement for a neighborhood shopping center in Hagerstown, Md. The information was taken from records maintained by the Maryland Department of Assessments and Taxation as well as records held by county clerk’s offices in Pennsylvania and West Virginia. The available details about property transactions varies among the states. […]

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Notes and quotes for December 2017

Things seen and overheard around the region last month, compiled by reporter Mike Lewis: ‘A lot of business’ “Just like everyone else, the fourth quarter is hopefully when you do a lot of business.” — Jan Martin, co-owner of E.L.M. Department Store in Greencastle, Pa. Median household income • Allegany Co., Md.: $40,551 • Berkeley Co., W.Va.: $55,239 • Franklin Co., Pa.: $53,916 • Frederick Co., Md.: $83,700 • Fulton Co., Pa.: $48,311 • Jefferson Co., W.Va.: $66,677 • Morgan Co., W.Va.: $39,324 • Washington Co., Md.: $56,228 — Source: U.S. Census Bureau, 2015 figures ‘Revitalize cities and towns’ “These […]

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Economists: Tax reform could cook up growth

But they differ on key ingredients to economic feast As the tax reform discussion raged in Washington, D.C., in November, two well-known Maryland economists said some of the proposals could help spur the nation’s economy. But Phillip L. Swagel and Anirban Basu said they weren’t sure the ideas will make it into a final proposal, or whether a bill will pass at all. “It’s still got a tough road ahead of it,” said Swagel, a professor in international economic policy at the University of Maryland’s School of Public Policy. “My guess is this gets no Democratic votes.” Swagel was assistant […]

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December business calendar

MARYLAND Coffee and Contacts Friday, Dec. 1 — This morning networking event gives you the opportunity to make business connections. Sponsored by Goodwill Industries of Monocacy Valley. 7:30 to 9 a.m. Frederick County Chamber of Commerce, 118 N. Market St., Frederick, Md. Free for Frederick County (Md.) Chamber of Commerce members; $15 for nonmembers. Call 301-662-4164; email info@frederickchamber.org; or go to www.frederickchamber.org. Silica Competent Person training Tuesday, Dec. 5 — This class will allow attendees to act as the company’s designated competent person as required by OSHA’s new silica standard. Upon completion of the class the employee will be able […]

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After merger, BB&T finds footing in region

After a merger with Susquehanna Bank and the adjustments such an acquisition brings, BB&T’s Western Maryland officials say they’ve “turned the corner.” “It takes time. BB&T knew it was going to take time,” said James Malfregeot, Western Maryland market president for BB&T. The merger was finalized two years ago. Susquehanna, based in Lititz, Pa., boasted $18 billion in assets and was a major factor in the regional market. BB&T, with $220 billion in assets, is one of the largest financial services holding companies in the country. It offers a range of financial services, including retail and commercial banking, investments, insurance, […]

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The record for December 2017

Maryland Allegany County Deed transfers of note • Address: 230 Arch St., Cumberland Buyer: John L. Miller Seller: Standard Bank Price: $20,000 Date: Oct. 5, 2017 Structure type: Church • Address: 22221 Md. 135, McCoole Buyer: Western Maryland Health Care Corp. d/b/a Mountain Laurel Medical Center Seller: Calvin A. Landis Trust Price: $180,000 Date: Oct. 18, 2017 Structure type: Service garage • Address: 735 Oldtown Road, Cumberland Buyer: Wolford Rentals LLC Seller: Frostburg State University Foundation Inc. Price: $44,000 Date: Oct. 19, 2017 Structure type: Office building • Address: 1090 Industrial Blvd., Cumberland Buyer: Dustin Freas Sellers: Beverly J. Wendt […]

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‘We are focused on growing with our customers’

Philip A. Pantano with F&M Trust Philip A. Pantano was an award-winning athlete in college and has become an award-winning banker with F&M Trust. Pantano received a bachelor’s degree from the University of Pittsburgh at Johnstown, Pa., where he was a scholarship athlete on the baseball team and co-captain. He was USJ’s scholar athlete of the year in 2004. He went on to earn a master’s in business administration from Shippensburg University in 2010. Pantano has been with F&M Trust since 2005 and has served in a vice president’s role since April 2011. He recently was named commercial services market […]

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HHHunt breaks ground on Frederick senior living community

FREDERICK, Md. — HHHunt has begun construction on its newest senior living community, Spring Arbor of Frederick, Md. At 6601 English Muffin Way, the community will have the capacity to serve 109 residents. It will feature assisted living and memory care services. Spring Arbor of Frederick is being developed on a 10-acre site along the Monocacy River and near the Monocacy National Battlefield. The 110,000-square-foot community is expected to open in early 2019 and represents a $32.3 million investment. In addition to standard amenities, the community will include life-skills programming, activity and wellness programs, fully accessible courtyards with covered seating […]

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Electric vehicles might charge up business opportunities

GM has announced that it will launch 20 new electric vehicle (EV) models. Volvo Cars announced that, within a few years, every Volvo automobile will have an electric motor. Ford reported significant commitments to all-electric vehicles. Tesla’s order book is swelling beyond half a million EVs. And so the news continues. Few EVs are on the roads now. Chevrolet Volts, Nissan Leafs, Teslas and other EVs represent 0.3 percent of the nation’s car and truck population. In some scenarios, the growth of EVs is considered a threat to traditional business sectors. That worry looks premature. Traditional businesses have time to […]

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