In January, a Washington County group gave similar reasoning for wanting to start a new "community-centered, consumer-driven" bank.
That bank, called Centra Bank, opened a Washington County branch on Frederick Street in Hagerstown at the end of June.
Centra Bank is based in Morgantown, W.Va. It has affiliates, with local management and control, in Morgantown, Martinsburg, W.Va., Uniontown, Pa., and Hagerstown.
Blue Ridge Bank will be based in Frederick.
Ausherman owns Ausherman Development Corp. of Frederick, which is involved in residential and commercial projects. The company has at least one significant Washington County project: the Westfields development off Sharpsburg Pike.
Blue Ridge Bank's 10-member board of directors is primarily tied to Frederick, Ausherman said.
J. Brian Gaeng, formerly of Fidelity Bank, will be Blue Ridge Bank's president and chief executive officer, organizers said in a press release. Gaeng also was with Fredericktown Bank for 16 years.
Richard C. Marshall III, another former Fidelity Bank executive, will be executive vice president and senior lending officer.
David L. Hoffman, who worked for Farmers & Mechanics Bank, will be executive vice president and senior credit officer.
Ausherman said the group plans to apply to the Maryland Department of Labor, Licensing & Regulation and to the Federal Deposit Insurance Corp. this week.