Taneytown Bank donates to Red CrossEmployees at Taneytown...

BUSINESS NOTES

September 02, 1993

Taneytown Bank donates to Red Cross

Employees at Taneytown Bank and Trust Co. had a fund-raising "Casual Day" at work Aug. 20. Each employee contributed to the Red Cross Flood Relief Fund and came to work dressed in casual wear.

The total collected from employees exceeded $700. President and Chief Executive Officer Carroll D. Myers matched the contributions on behalf of the bank for a total of $1,414.

The Red Cross in Westminster accepted the contribution on behalf of Marge Libertini, a volunteer counselor on duty in the Midwest.

Ms. Libertini worked at the bank earlier this year on a temporary contract.

Taneytown Bank & Trust operates six branches in Carroll County. It also owns and operates TBT Insurance, a subsidiary.

Carroll County Bank wins quality award

Carroll County Bank and Trust was recently awarded a Superior Rank of Quality by IDC Publishing.

Founded in 1985, IDC evaluates and ranks more than 28,000 financial institutions reporting to the federal government on a quarterly basis. IDC obtains information from the FDIC, Federal Reserve, Office of Thrift Supervision, National Credit Union Association and the Securities and Exchange Commission.

Carroll County Bank and Trust, which has headquarters in Westminster, operates 11 offices in Carroll County and one in Ellicott City. Its assets totaled $472.9 million on June 30, 1993. Total deposits held stood at $369.6 million on that date.

Bookstore is honored at Ohio convention

The Little Professor Book Center in Carrolltown Center in Eldersburg was honored at Little Professor Book Center's annual National Convention Aug. 6-8 in Toledo, Ohio.

Little Professor is the nation's largest organization of independent booksellers, with more than 110 locations in 34 states.

Frank Spruill, owner of the Eldersburg store, won the Professor's Choice Award, which is given to owners who have excelled in six areas of evaluation, including marketing, staff management and community involvement. He also won the Distinguished Service Award.

Bank holding company formed by Taneytown

The board of directors of Taneytown Bank and Trust Co. recently announced that its shareholders approved the formation a bank holding company to be called Monocacy Bancshares.

The shareholders approved the bank holding company formation a meeting Aug. 30 at the bank.

Monocacy will provide the bank and its shareholders with greater protection from unfriendly takeovers by competing financial institutions, greater opportunity for acquisition alternatives to strengthen the franchise value of the company and to allow ventures into profitable nonbanking, fee income-producing activities.

The bank holding company is expected to be effective early in the fourth quarter of 1993.

* Westminster: The Carroll County Chamber of Commerce will have a general membership luncheon at noon Sept. 9. The topic of discussion will be "Maryland's New Health Care Law: What It Says, What It Does, What It Doesn't Do, What It Means To You As An Employer." Reservations must be made by Sept. 6. Information: 848-9050.

* Westminster: The Carroll County Chamber of Commerce will conduct a team championship golf tournament Oct. 15 at Wakefield Golf and Conference Center, Westminster. Team and individual registrations are welcome. The cost is $100 for individuals and $400 for a team of four. Other packages are available. Registration deadline is Oct. 8. Information: 848-9050.

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