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.
another bank... ;_;
ReplyDeleteSo if banks are entering the Montgomery County market, does that mean the economic in MoCo is still "moribund"? Just sayin!
ReplyDeleteThe banks seem to feel there is a demand in the MoCo economy.
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ReplyDeleteThat was unnecessary.
DeleteThis piece is more fine example of the turnaround of Robert's side with straight news reporting. Much improved! Kudos!
The must have seen the county's job creation rate and decided that they needed to get into the Montgomery County market.
ReplyDelete10:27: I think the booming real estate market, which has never been affected by the County's poor effort on job creation, is the bigger draw for banks in this area. As well as the rapidly increasing population. All those people need banks, and may be looking for a smaller bank like Carroll where they aren't just a number coming in.
DeleteSeems like the banks see a booming residential economy in MoCo. That's good for MoCo. More property taxes and larger tax base.
DeleteHey Dyer, do you have any data to support your contention regarding the county's "poor effort" on job creation?
ReplyDelete(Answer: No, you do not)
G. Money, are you that out of touch that Fairfax beating Montgomery by miles in job creation is a new idea for you? This was a huge topic of discussion even in 2010.
DeleteWould be more inclined to believe you if you cited sources.
DeleteHow is asking for a source for your claim out of touch for g money?
DeleteWhy are people so eager to move to MoCo, if the economy is supposedly moribund?
ReplyDelete3:41: Good schools, low crime, and housing near booming job centers in NoVa and DC. Thanks to Uncle Sam, we've been able to coast awhile even with a County Council inept at economic development and transportation policy.
Deleteif I understand you here, MoCo does better than nova in schools, low crime, and housing, and NoVa and DC do better in economic development and transportation policy. So people prefer to live in MoCo over nova and DC?
DeleteIs it really that hard for you to cite an actual source for your claims, Dyer?
ReplyDeleteThere clearly is no data he is using to make these claims. He would have provided it by now.
ReplyDeleteDyer, you may be aware that job creation numbers change over time. So even if I accept as fact that this was "a huge topic of discussion even in 2010," we are now in 2015, and should consider more recent job creation numbers. You have also repeatedly stated that you only accept BLS data on job creation. BLS data is publicly available. Where is the data that you are referring to?
ReplyDeletehttp://www.lpcwashingtondc.com/research/
ReplyDeleteLincoln Property says:
NoVa 17%
Suburban Maryland 17.4%
And DC sitting pretty at 10.8%
Deletehttp://mobile.reuters.com/article/idUSL3N0UK37W20150105
DeleteReuters says nationally it was 16.7% in 1/2015.
So .4% is the difference between a moribund Montgomery County economy and NoVa's thriving business economy?
Delete8:08: Nope. Office vacancy rate doesn't represent job creation, average wage rates of private jobs, or how many Fortune 500 companies a jurisdiction has. Fairfax and Montgomery Chambers of Commerce are laughing at your .4% assertion.
ReplyDeleteI think office vacancy was initially brought up by yourself is why Flynn posted it as a source for your own claim. So you're saying the laughable .4% difference in office vacancy is not a contributor or difference for MoCo and nova?
DeleteWhat are the comparable numbers then for the factors you indicate do matter?
- job creation
- average wage rates or private jobs
- how many Fortune 500 companies a jurisdiction has
What assertion are they laughing at, btw? You mean that question I was asking for clarification on your perspective? I didn't realize due diligence and asking for an explanation counted as assertion nowadays?
10:45: No, Fairfax has schools as good as MoCo, and low crime. They have plenty of housing, too. That's why George Leventhal commissioned a report to study why we spend so much, have higher taxes, and yet have no better schools and far less jobs created than Fairfax in 2010.
ReplyDeleteAt 5:20 Robert dyer said "3:41: Good schools, low crime, and housing near booming job centers". Just basing on what you said is all.
DeleteSo back to the question of why people keep moving to MoCo then if there is such a moribund economy then?
10:49: Fairfax is far ahead of MoCo on all 3 of those categories. They're laughing at anyone who would claim MoCo created more jobs than Fairfax County in any of the last 10 years, or 2015.
ReplyDeleteHi yes I was pulling out the three points you made. I am not disputing your specific claims. But can you provide numbers and sources to verify those three claims?
Delete