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Business briefs from 10/20

October 21, 2002

F&M Bancorp



FREDERICK, Md. - The Board of Directors of F&M Bancorp recently declared a regular quarterly cash dividend of 28 cents per share payable Nov. 15 to shareholders of record as of Nov. 1.

F&M Bancorp had total assets of $1.993 billion on Sept. 30.




Tower Bancorp



GREENCASTLE, Pa. - Tower Bancorp Inc., parent company of The First National Bank of Greencastle, recently reported earnings of $1,140,478, or earnings per share of 66 cents, for the quarter ending Sept. 30.

For the first nine months of 2002, net income was $3,732,300, or $2.15 per share, an increase of 16 percent over last year. Return on equity and return on assets were 17 percent and 1.94 percent, respectively, for the first nine months of 2002.

As of Sept. 30, assets stood at $264,294,000, an increase of 10 percent or $24,963,000 over their quarter-end totals for the year 2001. Total loans reached $188,199,000, an increase of $23,561,000, or 14 percent, while deposits at the quarter-end increased 4 percent to $188,039,000.

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Fulton Financial Corp.



LANCASTER, Pa. - Fulton Financial Corp. announced recently it will pay a quarterly cash dividend of 15 cents per share on its common stock on Jan. 15 to shareholders of record as of Dec. 23.

Fulton Financial Corp. is a financial holding company that operates 192 banking offices in Pennsylvania, Maryland, Delaware and New Jersey. Its holdings include Hagerstown Trust.

The Manitowoc Co.



MANITOWOC, Wis. - The Board of Directors of The Manitowoc Co. recently declared a cash dividend of 28 cents per share of common stock payable Dec. 9 to shareholders of record as of Dec. 2.

The company owns Grove Worldwide, a crane manufacturer based in Shady Grove, Pa.

Associated Builders and Contractors



The Cumberland Valley Chapter of Associated Builders and Contractors Inc. held its monthly dinner meeting Sept. 19 at the Plaza Hotel.

Speakers for the evening were Robert Worcester, president of the Maryland Business for Responsive Government; Eric Rosedahl, ABC National Region 5 field representative; Dan China, CVC Maryland Legislative chairman and Jeff Deardorff, Pennsylvania Legislative committee member.

To register for an upcoming meeting or to obtain additional information about membership, contact ABC President Joan Warner at 301-739-1190.

Tristate Electronic Manufacturing



Tristate Electronic Manufacturing Inc. received ISO-9000:2000 certification from Intertek Services Corp. on Oct. 4.

Thomas Automotive



McCONNELLSBURG, Pa. - The Thomas Automotive Family began breaking ground on Sept. 19 for a new facility that will be next to the Thomas Chevrolet-Oldsmobile dealership at the intersection of the U.S. 30 Bypass and U.S. 522 North in McConnellsburg.

When completed in mid-2003, the six-acre facility will house a 20,000-square-foot building that will be the new home of the sales and service departments of Thomas Ford-Mercury, currently at the west end of McConnellsburg.

P&W Excavating of McConnellsburg is completing the first phase of the construction.

City of Frederick



FREDERICK, Md. - The City of Frederick's Department of Community Development will hold a free information session on its Sold on Frederick program Nov. 4 from 7 to 8 p.m. at the C. Burr Artz Library.

Sold on Frederick is a second mortgage program designed to assist individuals in fulfilling the dream of becoming a homeowner.

For more information, contact Eileen Barnhard at the City of Frederick's Department of Community Development at 301-228-2842.

Women's Business Institute



FREDERICK, Md. - The Women's Business Institute will hold its third annual Procurement Fair Nov. 18 at the Holiday Inn on U.S. 40 in Frederick.

The daylong conference will bring together dozens of government procurement officials and companies seeking to do business with government.

The fair will feature several workshops, including such topics as procurement opportunities for women and minorities, teaming agreements and teaming with prime contractors.

Among the government agencies to be featured at the event will be the Small Business Administration, the U.S. Army Medical Research Acquisition Activity at Fort Detrick and the Office of Small and Disadvantaged Businesses.

Registration is $45 in advance or $55 at the door.

For information or to register, call Pam Amberman at 1-410-756-2334.

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