Carroll Community Bank closes in downtown Bethesda

Carroll Community Bank has ended a five-year run in downtown Bethesda. The branch of the Carroll County-based bank at 7126 Wisconsin Avenue has permanently closed. Accounts of customers here that were not closed have been transferred to the bank's Sykesville branch.

It's interesting that Carroll and Bowie-based Old Line Bank entered the Montgomery County market at the same time, and now Carroll has closed its branch, while Old Line was absorbed into Wesbanco Bank.

Starbucks, Jos. A Bank & Carroll Community Bank to be replaced with apartment tower (Photos)

The Montgomery County Planning Board and County Council's claim that the Bethesda Downtown sector plan would be built out over decades is becoming increasingly laughable. Another downtown block is now being proposed for redevelopment, raising more questions about school capacity and the total allowable number of units being reached under the sector plan. A new proposal for a residential tower at 7126 Wisconsin Avenue would replace the Starbucks, a Jos. A. Bank menswear store, and a recently-opened Carroll Community Bank branch.

7126 Wisconsin's developer will leverage excess density from the Montgomery Women's Farm Market site across the street to add bonus density to the project. That project will consist of a 225', 22-story tower with 260 residential units, and 7200 SF of retail space. Vehicle access to the building (parking and loading dock) will be from Miller Avenue, and parking will be in a 4-level underground garage.

The plan again leverages the farm market across the street as the green space, as opposed to providing open space on the site of the building. Giving developers credit for not redeveloping a site that legally can't be redeveloped anyway isn't helping increase the amount of open space downtown.

The farm market is at bottom, facing the proposed new
residential tower across Wisconsin Avenue

Carroll Community Bank celebrates Grand Opening in Bethesda (Photos)

Carroll Community Bank is now open at 7126 Wisconsin Avenue, and leaders of the Carroll County-based bank were on hand for a grand opening celebration yesterday evening. While new to Montgomery County, the bank has several connections to Bethesda, including that a number of the bank's officers reside here. And Vice President and branch manager Homer Hervey, a graduate of Little Flower School and Gonzaga High School, is one of several OBA Bank veterans who have moved over to CCB.

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.

Carroll Community Bank expanding to MoCo with new Bethesda branch (Photos)

Downtown Bethesda is suffering from bank overkill, but the latest addition is actually an intriguing and newsworthy one. Carroll Community Bank is expanding outside of Carroll County for the first time, and their first external branch will be in Bethesda. They're taking over the former Sandy Spring Bank space at 7126 Wisconsin Avenue.

Carroll Community Bank has a long history, having formed as the Sykesville Perpetual Building Association in 1870. It currently has locations in Sykesville and Westminster.