Schaefer ending 45 years at First National Bank

Maryland Watch

July 04, 1996

Robert W. Schaefer, First National Bank of Maryland's chief financial officer, is retiring, bringing to a close a 45-year career at the bank.

Schaefer, 62, will leave the $10.5 billion-asset First National Aug. 31 to become executive director of the France-Merrick Foundations, a Towson-based philanthropic organization that awards grants to groups involved in education, arts, conservation and health and social services.

"I have always wanted to do something post-retirement to put back in the community and serve the community," Schaefer said.

He had planned to retire between ages 60 and 65 to begin his second career.

Forty-five years at one job and at the same company is "long enough, even though, technically, it is early retirement," he said.

Schaefer joined First National as a clerk in the credit department on June 4, 1951, when he was 17, at a salary of $1,500 a year.

At age 25, he was named controller, a position he has held ever since.

"I was in the right place at the right," Schaefer said. "Counting up, I think I've worked for six CEOs. Although the CEOs changed, they all kept me."

Pub Date: 7/04/96

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