Monocacy Bancshares declares 8-cent dividend

CARROLL BUSINESS NOTES

October 06, 1994

Monocacy Bancshares Inc. has declared a dividend of 8 cents per share, payable Oct. 25 to stockholders of record Oct. 11.

This dividend is an increase of 33 percent and is a reflection of Monocacy's strong financial performance in 1994 as well as its strong capital position, said Frank W. Neubauer, president and chief executive officer.

The company also has started a dividend reinvestment plan, which allows stockholders to use dividends and voluntary cash to purchase Monocacy shares. Company officials believe this will allow the company to increase its capital base, combined with future growth plans.

Quickel named manager of Long & Foster office

Richard Quickel, a top producing sales associate with Long & Foster Real Estate's Mount Airy office, is the office's new manager.

Mr. Quickel -- an active member of the Frederick, Montgomery and Central Maryland Boards of Realtors -- was project manager for Ausherman Homes Inc. for six years before becoming a sales associate with Long & Foster.

He is a native of the area and lives in New Market with his wife, Andi, and their two sons.

Chamber to hold Business After Hours

The Carroll County Chamber of Commerce will have its Business After Hours from 5 p.m. to 7 p.m. Oct. 18 at Abbey Interiors, 92 E. Main St., Westminster.

Business After Hours provides an opportunity for business and professional people to become better acquainted and offers publicity to companies sponsoring the reception.

Reservations are needed by Oct. 14. Information: 848-9050 or 876-7212.

Potomac Edison Co.changes management

The Potomac Edison Co., which has 9,400 customers in western Carroll County, has announced changes in its executive management structure that will take effect Jan. 1.

Potomac Edison is one of three companies in the Allegheny Power System, with West Penn Power Co. and Monongahela Power Co.

Jay S. Pifer, president of West Penn Power, will also become president of Potomac Edison and Monongahela Power. He replaces Benjamin H. Hayes, former president of Monongahela, and Alan J. Noia, former president of Potomac Edison.

Mr. Hayes, an employee of Monongahela for 30 years and its president since 1987, is retiring Jan. 1. Mr. Noia, an Allegheny Power employee for 25 years, has recently become president and chief operating officer of the company.

Mr. Pifer, a West Penn employee for 29 years and its president since 1990, is a graduate of Penn State and Clarion State universities. In his new post, he reports to Mr. Noia.

James D. Latimer will remain vice president of Potomac Edison, a position he assumed June 1, and will report to Mr. Pifer.

Taneytown Bank, Trust enters mortgage program

Taneytown Bank and Trust Co. is the 500th bank to enter the IBAA Mortgage Corp.'s mortgage program.

The program, used primarily by rural banks since it started last year, gives its members an opportunity to provide mortgages that are competitive with larger financial institutions, said Frank Neubauer, Taneytown Bank's president.

Taneytown Bank also offers financing for manufactured houses, another IBAA program, Mr. Neubauer said.

Copenhaver Electric honored by utility

Copenhaver Electric of Taneytown is one of 13 electrical and lighting contractors recognized by Potomac Edison Co. for outstanding participation in the utility's Power Saver Lighting Rebate Program.

The program gives rebates to companies that place high-efficiency lighting systems in new construction projects or retrofit existing buildings.

Each company honored achieved an electric demand reduction of more than 100 kilowatts since the program began in July 1993, said Susan Geist, supervisor of industrial and commercial activities in Potomac Edison's Hagerstown office.

Bank appoints Grim assistant vice president

Kimberly A. Grim has been promoted to assistant vice president of Taneytown Bank and Trust. Joining the bank in 1992 as a loan operations supervisor, Ms. Grim has been actively involved in a number of conversions and systems projects. She attends York College, pursuing an accounting degree.

Ms. Grim lives in Hanover, Pa., with her husband, Sean, and daughter Austyn. Carroll Lutheran Village, a nonprofit continuing care retirement community, has announced the appointment of Michele Crew as its new director of fund development and communications.

hTC The new position is designed to develop initiatives for the facility to implement a full-scale funding program to support services for residents, establish endowment, provide funds for future construction, and establish an estate and planned giving

program.

Mrs. Crew has more than 20 years of fund-raising and public relations experience with nonprofit and government agencies, the arts and higher education. She was an interim vice president for development at Wilson College in Chambersburg, Pa.

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