Business briefs: Taneytown bank promotion; addition to Coldwell Banker office; ag lender posts second quarter results
By Times Staff
Carroll County Times|
Sep 26, 2020 at 5:00 AM
Gesell receives bank promotion
ACNB Bank has promoted Belinda A. Gesell, community banking manager at the Taneytown office of NWSB Bank, a division of ACNB Bank, to assistant vice president.
In her role, she is responsible for welcoming customers to the bank’s Taneytown office located at 222 E. Baltimore St., fulfilling customers' needs for banking products and services, building relationships within the local community, and managing the office staff.
Gesell joined the bank in 2005 and has been working in the banking industry in northern Maryland for more than 20 years. Her banking career includes positions in community banking, consumer lending, and training and development. The Taneytown resident is a graduate of Francis Scott Key High School in Union Bridge.
NWSB Bank, a division of ACNB Bank, serves its local marketplace with banking and wealth management services via a network of seven community banking offices located in Carroll County.
Addition to Coldwell Banker office
Theresa Church has joined the Coldwell Banker Residential Brokerage office in Carroll County as an assistant branch vice president.
Church has worked in various aspects of the real estate industry representing buyers, sellers and tenants in both the residential and commercial market for more than 12 years. She was most recently affiliated with Century 21 Redwood Realty in Frederick and was affiliated with Long & Foster Realtors before that.
During her real estate career, Church has acquired the real designations ABR, SRES, and has excelled in the areas of marketing, strategic planning and communications. She has been involved with Habitat for Humanity since 2002.
Coldwell Banker Residential Brokerage is a residential real estate brokerage company with 28 sales and resort rental locations and about 2,400 affiliated agents serving the communities of greater Baltimore, greater Washington, D.C., including Northern Virginia, and the Maryland and Delaware beaches.
Ag lender announces second quarter results
MidAtlantic Farm Credit, a members-owned cooperative and an institution of the national Farm Credit system, reported its second quarter financial results for 2020.
Accruing loan volume for the first six months of 2020 was $2.78 billion, an increase of 0.95% compared to the same 2019 period. Net income for the quarter was $11.9 million, a 3.7% decrease compared to the second quarter of 2019. For the first six months of 2020, net income of $24.9 million, a 0.83% decrease from the same period in 2019. The decrease is a result of the impact of a loan payment deferral program in response to the COVID-19 epidemic. Net interest income for the second quarter was $17.3 million, a 4.6% decrease from the same time period in 2019. Nonaccrual loans of $52.8 million at June 30, 2020, were up $6.5 million from Dec. 31, 2019, and up $3.2 million from June 30, 2019. The association distributed cash patronage to its member-borrowers of $27 million in 2020.
The agricultural lending cooperative, headquartered in Westminster, provides farm loans for land, equipment, livestock and production; crop insurance; and rural home mortgages.
Business briefs offer information about Carroll County-based companies, employees and their operations, news of awards, promotions, new business openings, new hires, etc. Send your release to the Carroll County Times, P.O. Box 169, Westminster, MD 21158, or email@example.com.