Middletown Valley Bank to Open Second Hagerstown Branch
December 3, 2018
Middletown Valley Bank announced Saturday, December 1st, 2018 that they will open a full-service retail branch in Hagerstown, MD at 13418 Marsh Pike on the corner of Longmeadow Road and Marsh Pike. It is expected to open for business January 2019 and will be the banks second Hagerstown branch location.
“Our expansion into Hagerstown’s north end market allows us to provide the Absolutely Exceptional Experience to existing and future customers, and demonstrates our strong commitment to Washington County,” said Ryan Lampton, SVP and Director of Commercial and Retail Services.
In addition to the new branch, the bank also plans to open a new Operations Center on North Potomac Avenue in Hagerstown in early 2019 as previously announced.
“Our additional Hagerstown facilities greatly increase our operational infrastructure and allow us to provide additional conveniences across our footprint,” said BJ Goetz, President & CEO.
Middletown Valley Bank (MVB) is a wholly owned subsidiary of Community Heritage Financial, Inc. (OTCPink: CMHF). MVB provides full service commercial and retail banking services through six branch locations in Frederick and Washington County, Maryland. As of September 30, 2018, Middletown Valley Bank had total assets of approximately $428.8 million, total net loans of $340.2 million, total deposits of $375.4 million, and shareholders’ equity of $44.3 million. For more information, visit www.mvbbank.com.
This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the use of forward- looking terminology such as “believes,” “expects,” “intends,” “may,” “will,” “should,” “anticipates” or similar terminology. Such statements, specifically regarding the Company’s intentions regarding transparency, growth and market expansion, are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, changes in interest rates, stock market liquidity, deposit flows, loan demand and real estate values, as well as changes in economic, competitive, governmental, regulatory, technological and other factors which may affect the Company specifically, its existing and target market areas or the banking industry in general. The realization or occurrence of these risks or uncertainties could cause actual results to differ materially from those addressed in the forward-looking statements.
Contact
Brian M. Ropp
Executive Vice President, Chief Financial Officer
Middletown Valley Bank (301) 371-3029