Monocacy Bancshares to purchase Royal Oak

CARROLL COUNTY BUSINESS NOTES

September 07, 1995

Monocacy Bancshares signed an agreement to purchase Royal Oak Savings Bank, a wholly owned subsidiary of U.S.B. Holding Co. Inc.

Royal Oak has branches in Randallstown and Eldersburg.

The transaction will involve the assumption of approximately $40 million in deposits and the purchase of a small amount of tangible assets, as well as mortgage servicing right associated with approximately $40 million in mortgages.

The acquisition of Royal Oak will require and is contingent upon receiving the approval of the federal banking regulators.

The company doesn't expect that approval until late this year.

NOTES

Directors declare dividend at bank

The Board of Directors of Mason-Dixon Bancshares, Inc., parent corporation of Carroll County Bank and Trust Company has declared a dividend of 12 cents per share. The dividend payable Sept. 15 will be paid to stockholders of record as of Sept. 1.

Taneytown bank given five-star rating

Taneytown Bank and Trust has been awarded a five-star rating by Bauer Financial Reports, the nation's leading bank rating firm.

The five-star rating confirms financial strength. Its tangible capital ratio and/or risk-based capital ratio, the two ratios most watched by regulators, exceed two times federal regulatory requirements.

The most recent award is based on analysis of financial data filed by the bank with federal regulators for the quarter ended March 31, 1995.

Pampered Chef joins fund-raising program

The Pampered Chef Ltd. will participate in the Round Up from the Heart program, initiated by the company in 1991. The Pampered Chef sells kitchen tools through in-home product demonstrations.

Ruth Lee of Westminster, a consultant for the company since June 1994, is participating in the program. The company donates $1 for each show held by its consultants through Dec. 31. Customers may participate in the fund-raising program by "rounding up" their order totals to the nearest dollar.

Proceeds go to Second Harvest, a national food bank network for distribution in the county from which the money came. No administrative fees are withheld by Second Harvest or the Pampered Chef. For information, call Ms. Lee at 857-9702.

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