Friday, October 16, 2015
Carroll Community Bank celebrates Grand Opening in Bethesda (Photos)
Several elected officials attended the opening event, including Maryland State Senator Michael Hough (R-District 4), as well as a representative of Maryland Gov. Larry Hogan's administration. Attendees enjoyed beer and wine from an open bar, and catering by Bethesda-based Ridgewell's.
The bank's President and CEO, Russell J. Grimes, said the advantage customers will have at CCB is that a community bank gives them "access to decisionmakers." Two other policies further distinguish Carroll Community Bank from other community banks. First, CCB customers can use any ATM, anywhere in the world, and the bank will reimburse them for the fee. Many small community banks don't offer that, and may have a limited network of ATMs in inconvenient locations.
Second, many banks will charge a small business a fee after processing the first 50 items in a month. Carroll Community Bank won't charge until after the 150th item.
Bank Director Gilbert Fleming said the sweet spot for Carroll Community Bank in Bethesda will be loans in the $1.5 to $3 million dollar range, such as for luxury home purchases or business loans. The bank can offer loans above $5 million if it partners with other lenders. Fleming said he doesn't expect the bank to fund high-rise apartment buildings at this stage, such as the one rising across Miller Avenue from it.
The bank has 4 free parking spaces on Miller Avenue for use by customers. On its website, the bank offers potential customers an online Switch Kit to help you switch over from your current bank.
Carroll Community Bank is the second longstanding Maryland bank to enter the Montgomery County market in recent months, with Bowie-based Old Line Bank opening two branches soon in Rockville.