By Mike Lewis
From building new branches to going public to naming new leaders, some banks have made big changes in the Crossroads Business Journal area during the past several months.
With all of the activity, we thought it would be handy to have a roundup of some of those changes.
CNB prepares for 85th year
CNB Bank made a couple of personnel moves at the end of 2018, as it prepares to celebrate its 85th anniversary this year.
Josh Householder joined the bank as senior vice president/chief banking officer. He will lead the bank’s sales efforts in each of its markets.
Steven Shaffer joined the bank as assistant vice president/treasury management officer. He will be an integral part of the sales team as the bank continues its focus of treasury management products and services.
Together, they bring more than 30 years of local banking experience to CNB’s team.
Middletown makes moves
Middletown Valley Bank made several moves in recent months. Among them:
• In December, MVB announced it plans to open a full-service retail branch in Hagerstown, Md., at Longmeadow Road and Marsh Pike. It will be the bank’s second Hagerstown branch location. In addition to the new branch, the bank also plans to open a new operations center on North Potomac Avenue in Hagerstown, as previously announced.
• In November, Community Heritage Financial Inc., MVB’s parent holding company, announced it was acquiring Millennium Financial Group, a privately held, full-service residential mortgage lender. Known as Mlend, the company provides expertise in residential mortgage financing and will continue as an independent operation under the holding company structure. The transaction is expected to be finalized in the first quarter of 2019.
• In March, MVB announced that it was going public through the OTC Pink Market under the ticker symbol MNVB. With this listing, shareholders can more easily find the current market value of the bank’s stock and are able to hold the stock personally, with a local broker, or with an online brokerage.
“The addition of the OTC Pink listing is designed to broaden the appeal of our stock to additional local investors and to provide more ease to current shareholders trading our stock,” MVB president and CEO Robert “BJ” Goetz said at the time.
Patriot opens branch
In October, Patriot Federal Credit Union hosted a ribbon-cutting ceremony for its ninth branch. The new facility is on Robinwood Drive near Hagerstown, across from the Meritus Medical Center campus. The one-story facility has more than 3,800 square feet and became Patriot’s second full-service branch in Washington County.
“We’re in a great location and we offer convenient hours to better meet the needs of our membership. Robinwood symbolizes our ongoing commitment to growth and providing quality financial services to our members in Hagerstown and other communities we serve,” Brad R. Warner, CEO of Patriot, said at the time.
First United in Emerald Pointe
In December, First United Bank & Trust cut the ribbon on its newest facility in Emerald Square, next to the Emerald Pointe development near Hagerstown. The bank reported that the “dynamic growth and development in the Hagerstown area” led to the opening of its newest facility.
“First United is investing in our communities with new and completely renovated branches throughout Maryland and West Virginia. We remain true to our community banking values while providing customers with the newest technologies and modern conveniences that we have to offer,” Carissa L. Rodeheaver, bank CEO, chairman of the board and president, said at the time.
AmeriServ opens new office
In January, AmeriServ opened its new full-service banking office on Shank Farm Way in Hagerstown. Ameri-Serv Financial Bank opened a loan-production office in Hagerstown in 2008, providing commercial and business banking services to business customers in Maryland, Pennsylvania and West Virginia. The new office will replace the loan-production office, which is on Howell Road just off South Edgewood Drive.
The bank renovated the building, which previously housed a Capital One Bank branch, for the new facility.