Net income increases at Monocacy BancsharesMonocacy...

BUSINESS NOTES

October 13, 1994

Net income increases at Monocacy Bancshares

Monocacy Bancshares Inc., the parent company of Taneytown Bank and Trust, reports a net income of $704,814 for the quarter that ended Sept. 30.

The income, which equals 54 cents per share, represents a 36 percent increase over the comparable quarter last year, said Frank W. Neubauer, president and chief executive officer.

Net income for the nine months that ended Sept. 30 was $1,791,739, or $1.37 per share, Mr. Neubauer said. This is a 19 percent increase compared with the same period in 1993, which was $1,505,342, or $1.15 per share, he said.

Bank officers said the performance can be attributed to improved net interest income as net loans grew by about 28 percent from Sept. 30, 1993. Strong but lower levels of noninterest revenue also helped the increase.

The loan growth from Sept. 30, 1993, was the primary reason total assets reached $211,693,714 a year later, Mr. Neubauer said. This is a high for the company, he said.

A certificate of deposit promotion caused deposits to increase by 11 percent from Sept. 30, 1993, he said. In other Monocacy news, the company has declared a dividend of .08 cents per share which is payable on Oct. 25 to stockholders of record on Oct. 11.

This is a 33 percent increase in dividends.

In addition, shareholders of Monocacy can participate in a new Dividend Reinvestment Plan. The enrollment process will begin in November. The plan will allow shareholders to reinvest cash dividends, as well as voluntary cash, to buy shares of Monocacy Bancshares.

Mason-Dixon Bancshares has 3-for-1 stock split

The board of directors for Mason-Dixon Bancshares has approved a 3-for-1 stock split. The split, in the form of a 200 percent stock dividend, will be payable on Oct. 28 to shareholders of record at the close of business Oct. 7.

The stock dividend was voted in recognition of the performance of the company's common stock and the recent strong earnings performance of the company's primary banking subsidiary, Carroll County Bank and Trust.

Stephens is elected to Realtors' board

Joseph D. Stephens Jr., a real estate agent with Re/Max Ambassadors in Westminster, has been elected to the Carroll County Association of Realtors' board of directors.

In addition to his real estate experience, Mr. Stephens has a background in mortgage banking and telecommunications sales.

He will serve on the 16-member board for three years.

Re/Max Ambassadors is an independently owned and operated franchise of Re/Max International in Denver.

O'Conor, Piper, Flynn appoints Pakulla to post

O'Conor, Piper & Flynn announced the appointment of Sue Pakulla as sales office manager.

Ms. Pakulla has 20 years' experience in real estate sales management, including working as a marketing director for a title insurance firm and the director of education for a multi-office real estate brokerage company.

Since 1975, she has supervised sales offices in Baltimore, Anne Arundel and Carroll counties. She lives in Ellicott City.

Lutheran Village elects board

Carroll Lutheran Village recently elected a board of directors.

They are Gregory K. Hare, president; Hermine Saunders, vice president; Robert K. Mathias, second vice president; Howard Myers, treasurer; and Thelma Reaver, secretary.

Other board members elected were William G. Scott, Randy Sherman, Clyde Boylls, Dr. Richard Clopper, Alexander Palochonski, Charles Burrier Jr., Paul Dell, the Rev. Eugene Alexander, Christine Whiteleather, Frederick Kestler and the Rev. Philip Emanuel.

Carroll Lutheran Village is a continuing care retirement community that serves more than 400 residents in apartments, cottages and the Health Care Center. The organization was founded in 1980.

Staley Body Shop an Acoat partner

Staley Body Shop of Westminster was recently recognized as an Acoat selected partner.

Developed for collision repair centers, the Acoat program seeks to ensure quality work and professionalism through staff training sessions and a computerized management system.

Shops enter the program as associates and must meet strict facility appearance and equipment requirements.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.