Nolte becomes manager of insurance agencyJohn Patrick...

BUSINESS NOTES

October 22, 1995

Nolte becomes manager of insurance agency

John Patrick Nolte was promoted recently from account executive to manager of the Westminster branch of the Carroll County Insurance Agency.

He replaced Bill Parks, who retired. Mr. Nolte handles all the daily operations, including employee training and general branch management, and oversees branch accounts.

Mr. Nolte has more than three decades of experience in the insurance industry and was president of his own company and a vice president of an insurance agency in Baltimore.

Monocacy Bancshares reports higher earnings

Monocacy Bancshares Inc., parent company of headquartered in Taneytown-based Taneytown Bank and Trust Co., reported a 5.6 percent increase in earnings for the nine months that ended Sept. 30. Earnings were $1.89 million for the period, compared with $1.79 million for the first nine months of 1994.

Chief Executive Officer Frank W. Neubauer attributed the increase in net income to a rise in interest from loans.

Total assets exceeded $223 million as of Sept. 30, an increase of more than $12 million, or 5.7 percent, from assets at the end of the third quarter last year. Earning assets were 5.4 percent higher than on Sept. 30, 1994, and deposits increased 8.1 percent for the same period.

The board of directors declared a 10-cent-a-share dividend, payable Tuesday to stockholders of record on Oct. 10.

Law firm opens branch in Westminster

The law office of Summerfield, Willen, Silverberg and Limsky has announced the opening of a branch office in Westminster. The new office will handle civil and criminal matters.

Summerfield, Willen, Silverberg and Limsky began its practice in 1977 in Owings Mills. The firm said its proximity to Carroll County had attracted many residents.

The Westminster office is at 237 E. Main St. Summerfield, Willen, Silverberg and Limsky is a seven-attorney firm.

Information: 848-0000.

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